GDP Report Misses Expectations

I guess this is the last time they are going to be able to blame weak GDP numbers on the weather. Although how they can blame the first quarter`s number on the weather is beyond me but they are getting away with it.

The government reported that the first quarter GDP was up 0.1 percent... 0.1 percent? That is basically flat!

Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.

The Fed Will Reverse Course On QE

I do expect the downward trend in job gains to continue, which is why I believe the Fed will do an about face on QE.

 Related ETFs: SPDR Gold Trust ETF (GLD), SPDR S&P 500 Index ETF (SPY)

Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.

Video: Creating Poverty By Fighting Poverty

Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.

More Money Chasing A Given Supply Of Goods

"Efforts to combat recession through stimulus measures mean more money chasing a given supply of goods. Being the very definition of inflation, that simply pushes up  prices while doing nothing to improve underlying economics." - in The Little Book Of Bull Moves

Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.

Video: Free Market Capitalism

Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.

Gold: The Rally Will Gather Momentum As The Year Progresses

All of the gold that the speculators unloaded in the second half of 2013 has been bought by entities that have no intention of ever selling it.

Once the market turns around and probably it has already bottomed, we are surprising everybody with the rally thus far in 2014, which I think it will gather momentum as the year progresses, especially when we get more of the economic data coming out this spring which does not show an improvement over the winter. In fact it may even continue to deteriorate because everybody has been dismissing all the bad news as if it was solely related to the cold weather. 

Related ETFs: SPDR Gold Trust ETF (GLD), Market Vectors Gold Miners ETF (GDX)

Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.

U.S. Dollar: The World Has A Lot More Confidence Than They Should

They can`t keep printing money without collapsing the Dollar. And I think that is the real collateral damage. The Federal Reserve will keep printing money to keep the bond market propped up, to keep the equity market propped up, the housing market propped up and the Government in business to enable them to keep borrowing and spending. So they will keep on printing and printing and printing until the bottom falls out of the Dollar, which will happen eventually. It should have already happened. But the world has a lot more confidence in our money than they should. Eventually they won`t and the confidence will fail and that is the crisis that we are heading into.

Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.

Video: Confiscating Excess Wealth

Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.

Dow Jones Industrials & Gold Parity

I don`t know how much the Dow Jones is going to decline. I think most of that is going to be made up with gold prices going up, not so much the Dow Jones Industrials going down because I do believe that they will print enough money to put a floor beneath the stock market. So, I don`t think they will meet at 2,000 or 3,000. I think they are going to meet at a much higher level.

By the time they are one-to-one again it will probably be with gold and the Dow Jones at 5,000 to 10,000 if not higher. So, I am not looking for a collapse in the Dow Jones but the Dow could certainly move down. The Nasdaq I think its the most vulnerable.

Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.

Video: The Federal Reserve Will Not End QE

Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.

Deflation: A Stupid Concern

Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.

What Is Full Employment To Janet Yellen?

What is full employment to Janet Yellen? Is it when the government has driven enough people from the workforce so the remainder can work the fewer jobs left?

Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.

Momentum Stocks Are Having Trouble

I don`t think that the Nasdaq is out of the woods just yet. I still think these momentum stocks are having trouble.

Meanwhile the stocks that are on my screen that are making new 52 week highs, its all the energy stocks which having been lagging and lagging all last year. They are finally breaking out, making big moves as the price of oil approaches 105 dollars a barrel.

Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.

Quantitative Easing (QE) Is An Euphemism For Inflation

Inflation is the expansion of the money supply. Quantitative Easing (QE) is an euphemism for inflation. All the Central Banks are inflating. That is what they are doing. That is inflation. Looking at the effective inflation as measured by the government`s CPI index is meaningless.

Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.

China: No Evidence That Demand For Gold Will Slow

Contrary to news from Goldman Sachs and the Wall Street Journal, there is no evidence to suggest that China is going to buy less gold in 2014.

Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.

Video: The Bullish Case For Gold

Related stocks and ETFs: SPDR Gold Trust ETF (GLD), iShares Silver ETF (SLV), Newmont Mining (NEM), Barrick Gold (ABX), Goldcorp (GG),

Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.

People Are Starving For Yield

Will all this cheap money, because Central Banks have got interest rates too low, people are starving for yield even if it means lending money to Greece. But if this was a free market, if there was no moral hazard, if there was no government bailouts, Greece would not have a chance of borrowing this money, which would be good for Greece because going deeper into debt is not the solution to their problems, its compounding their problem.

Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.

Markets: Everything Is Reversing From 2013

It seems like everything is reversing from 2013. A lot of the hot momentum stocks that were doing well in 2013 are the ones that are getting clobbered in 2014. Gold did poorly in 2013, doing really well in 2014. So a lot of the insanity of 2013 being reversed now in 2014. I expect that to continue.

Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.

What The Stock Market Really Wants

I think what the markets really wants is for the Federal Reserve to halt the taper. And they may not have to wait much longer, in my opinion they are going to get just that. Especially if the stock market keeps going down.

Related ETFs: Select Sector Financial Select Sector SPDR ETF (XLF), SPDR S&P 500 Index ETF (SPY), Nasdaq 100 Index ETF (QQQ)

Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.

Why the Fed Can`t Raise Interest Rates

This is what is so unique to this situation. They had to bring rates all the way down to zero, which is the lowest they can go. They had bring them down to 1 percent in the last Greenspan recession and at that point it was the lowest they had been. Now they had to go all the way to zero. But what is different is that not only did they have to bring their rates down to zero to get the recovery but they could`t even raise them at all. We now have so much debt that we can`t even handle the slightest increase without going into recession.

Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.

U.S. Economy: Recovery Or Closer To A Recession?

From a historical perspective, 5 years after the recovery began, you are closer to the next recession. You are still talking recovery when statistically speaking we are probably coming to a recession.

Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.

What Separates A Rich Country From A Poor Country

"What separates a rich country from a poor country is the production of goods, not the creation of demand." - in Schiff Radio

Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.

Jack Lew: Germany Needs More Inflation

What was the advice that we had for Germany? Create more inflation! That was his advice. According to jack Lew, Europe and Germany in particular has a demand problem and the solution to the demand problem is more inflation. This from the Secretary of the Treasury of the United States of America, you create demand by creating inflation!

Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.

What Makes The Economy Grow?

Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.

Australian Dollar (AUD): Clear Sailing For Much Higher Levels

It seems like its clear sailing for much higher levels in the Aussie dollar (AUD). In fact, the Canadian dollar (CAD) look like its in the process of putting in a bottom, the USDCAD putting in a high. So that`s an interesting market.

Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.

Market Volatility Is The Big Story

Market volatility is again the big story. Yesterday the markets were hammered again. Remember that we opened higher, sold off and closed near the lows. Dow went down around 160, Nasdaq down 50. So, another drubbing for the high P/E stocks.

The market did open higher again this morning which I think its a negative sign. I think we will sell off again.

Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.

U.S. Economy: The Weather Excuse

Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.

Hedge Funds: They Are Like Ultra-Long Risk Funds

Over the last few years the interesting thing about hedge funds is that none of them are hedging. They are like ultra-long risk funds. Some of these funds were long/short, now they are long and longer. That is the attitude that the Federal Reserve has created.

Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.

A Real Collapse In Real Estate Prices

I do not look for a nominal collapse in real estate prices. But I do look for a real collapse, priced in gold, adjusted for inflation.

Now, if the Federal Reserve actually did what I don`t think its going to do, which is end QE and raise interest rates and unwind its balance sheet, then the stock market would collapse, the real estate market would collapse but that is why they are not going to do it.

Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.

What Is Going To Happen When the Fed Stops Supporting The Economy?

Low paying, part-time, temporary jobs. That is what we got. And is all we are going to get. That is the problem. We are not going to get the types of jobs we need, we are not going to get any improvement on the unemployment front.

And remember this is what the economy is doing with all the Fed`s help. Yes, they have tapered ever so slightly their QE program but the QE program is still here. Interest rates are still at zero and this is the best the economy can do.  So, ask yourself, what is going to happen if and when the Fed stops supporting the economy?

Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.

Employment Report: We Did Not Gain Any Good Jobs

Average hourly earnings went down. Probably because we did not gain any good jobs. We actually lost 1,000 manufacturing jobs in March, compared to a gain in February.

Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.

Why The Fed Wants Inflation? To Sustain The Bubbles.

We have bubbles in the stock market, we have bubbles in the real estate market and we need inflation to sustain them. That is the truth! But they do not want to cmd up with the truth so they come up with these BS explanations.

Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.

Inflation Will Bail Out The Debtors

In the U.S. where everybody is massively in debt including the government the debtors will have relief if inflation bails them out. But that is not an argument that inflation is a good thing it just allows the debtors to default on the creditors. So the debtors win and the creditors lose.

Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.

U.S. Economy: The Old Saying About Lies

There is the old saying about lies, if you repeat them often enough and say them loudly enough eventually people will accept it as being the truth. And I think everybody has succeeded on that when it comes to blaming the bad news on the weather.

Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.

Inflation And The Minimum Wage Hike

Inflation papers over the economic consequences of the minimum wage hike by reducing the value of the money earned.

Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.

Wall Street Traders Are Getting Gold Wrong

We have nothing but bad economic news nothing but more promises of more inflation and more money printing and we have still the price of gold under pressure because I think a lot of Wall Street traders who are shorting and are as bold as ever in their predictions that gold is going back down to 1,000 dollars. They just don`t understand the economy, they just don`t understand inflation or monetary policy. But I think its a great opportunity for people to load up on gold and silver because everything that Janet Yellen said and everything she is going to do, which is more important, will be bullish for gold.

Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.

Inflation Is Going To Wipe Out The Savers

Inflation is going to wipe out the savers. When the government wants to wipe out their debt they are wiping out someone else`s assets. If the governments were going to allow deflation and they were going to default then being a saver would be a good thing unless of course you were a saver in one of the institutions that failed and there is no bailout.

Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.

The Dangers of Removing Monetary Accommodation To Slowly

What Janet Yellen wants to do is to remove the punch bowl very, very slowly so as not to abruptly end the party. That is exactly what Greenspan did. He inflated a big bubble and he thought if he let the air out gently that there would not be any kind of adverse consequences. He was wrong.

Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.

High Frequency Trading (HFT), Short Term Traders Are Not To Blame

I don`t think you can blame what may or may not be happening in the gold market on High Frequency Trading (HFT) or even about the volatility in the stock market. You are always going to have program traders, you are going to have people that are buying and selling based based on technical indicators, based on momentum indicators.

By and large, this creates extra liquidity. If it wasn`t for all the people speculating in the market, the markets would be thinner. It would be a little harder to buy and sell stocks if the only people selling stocks were long term investors who wanted out and if the only people buying stocks were long term investors that wanted in - there would`t be that much trading going on.

So I don`t think its the traders that are responsible for the problems.

Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.

Federal Reserve: Dealing With The Genie They Let Out Of The Bottle

At some point its not going to be, "inflation is too low", its going to be, "inflation is much too high." And the pressure on the bond market will be intense, the amount of money the Federal Reserve is going to have to create to artificially supress interest rates will be too much for the economy to bear in the way of dollar depreciation and consumer price increases.

So at some point they are to have to deal with the genie they let out of the bottle. How long can they wait? I do not know. But they are going to wait as long as they can and believe its going to be a huge, huge problem at the time they try to do something about it.

Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.

What Economists Assume About Deflation

It is just accepted as economic truth that if consumers felt that prices were going to fall and be 1 percent lower next year, they would not shop. They would not spend any money at all. They would wait a year to get that savings. They would wait a year to save 1 percent.

And they say that and is just accepted without anybody bothering to think how completely ridiculous or asinine such an assumption is. Can you even imagine a circumstance where you need something or wanted something and it costed 100 dollars but you were convinced that at the end of the year you could buy it for 99 dollars, that you would hold off on shopping, that you would not buy it, that you would wait a year and then buy it because it would be a dollar off? That you would go without it for an entire year in order to save that dollar. And then if at the end of the year you thought that it would be at 98 dollars if you waited another year that is what you would do even if you needed it. 

We know that this is ridiculous yet every economist is making that assertion with a straight face.

Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.

Yellen: Higher Inflation Coming

The only thing Janet Yellen is going to succeed in doing of all the things she wants to do, she wants to help the economy, she wants to create jobs - she is going to fail these. The only goal that she is going to succeed at is raising inflation. Because there will be a lot more inflation thanks to Janet Yellen. And its not going to stop at 2 percent. But I can only imagine how high inflation will actually be if the official numbers were at 2 percent.

Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.

Economic Weakness & The Weather Excuse

The news is bad. It`s not because of the cold weather, it`s because of the chill in the economy that is only going to get worse. The economic data is going to get colder and colder and it does not matter what happens to the weather.

Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.

Oil & Gas Portfolios

You compare the dividend yields, the interest income that you get on bonds, compared to the cash flows that you can get on oil and gas investments. You get much more income on those portfolios and I think personally it is better because you have the inflation hedge, even though you have more volatility, you trade the volatility.

What is the dollar going to be worth in the next 5 or 10 years? I have no idea. Maybe its going to be worth anything. But I am very confident that oil will have value. The world is not going to stop using oil, as much as these environmentalists in their fantasies want to see the entire planet powered by wind or by solar. It will not happen. I mean, maybe in 100 years but it is not going to happen in the next 5 or 10 years.

Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.

U.S. Banks: Not Enough Stress in The Tests

There is not enough stress in these tests because they don`t test what is really going to go on. Nobody tests a weak economy and a big spike in interest rates at the same time. The Federal Reserve always assumes that if the economy is weak, interest rates are going to be low and the only way they assume rate hikes is if its a vibrant economy which lifts asset values and makes it easier for people to repay their debts. But they don`t have a stress test that stresses a big drop in the stock market and the real estate market and in the bond market. That we have a repeat of the stagflation of the 1970`s. That is what I think its coming, except even worse than in the 1970`s.

Related stocks: Citigroup (C), Bank of America (BAC), Wells Fargo (WFC), J.P. Morgan (JPM)

Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.

Bullish On Energy Investing

I am a big believer in energy investing and we own a lot of oil companies around the world and we are actually investing privately here in the United States.

Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.

Markets: I Think They Have Already Peaked

The bubbles are already there, the only question is are they going to get any bigger or are they already in the process of deflating? I believe that if the Federal Reserve continues tapering they are already deflating. I do not think it is going to be like in 2004 to 2006 where the markets kept going higher while the Federal Reserve was raising interest rates very slowly.

I think that if the Federal Reserve continues on this taper path and if the Fed raises interest rates I think the markets are just going down. I think they have already peaked.

Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.

Crude Oil Is Going to 150-200 Dollars

I think you are going to see 150 to 200 dollars oil, maybe even this year. Certainly by 2015, 2016. I think that if we successfully alienate  Russia and we see more Russian oil going to China, meaning that Europe and the U.S. will become even more reliant on the unstable supplies coming out of the middle east as we drive all this Russian oil into China.

Russia is the biggest oil exporter. They export more oil than Saudi Arabia. Prices are going to go even higher for us and so domestic oil in the U.S. is going to be a lot more valuable.

Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.

Major Bubbles In Stocks And In Real Estate

The bubbles that we have now in stocks and in real estate are already bigger than they were at their peaks in 1999 or 2006 and the Federal Reserve has not even started to take away the punch bowl yet. That is how enormous these bubbles are. That is the scale, that is the magnitude of what we are dealing with.

Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.

Video: Paycheck Fairness?

Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.