QE Will Raise Poverty In Europe

Topics: The European Central Bank (ECB) launches the QE program;

Related indexes: CAC 40 Index, DAX Index, Eurostoxx 50 Index;

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

Obama Is Taking Credit For An Economic Recovery That Does Not Exist

Topics: State of the Union address, U.S. economic recovery;

Related ETFs: SPDR Dow Jones Industrial Average ETF (DIA), 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.

You Never Want To Win A Currency War

How many more dollars are the Chinese going to buy before they give up, just like the Swiss, before they surrender? And when you surrender in a currency war, your people is victorious, they win. You never want to win a currency war. You want to lose. Unfortunately a currency war is the war the Americans are going to win, to our own detriment.

Related trading instruments: Swiss Franc, Chinese Yuan, U.S. Dollar;

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

European Deflation Fears: A Simple Solution

Topics: ECB`s quantitative easing program, European deflation worries;

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

Swiss Franc Episode: This Is A Lesson

This is a lesson in why central banking does not work, that these types of monetary policies are doomed to fail, that the central banks were trying to swim against the tide and eventually they had to give it up. And this is going to happen with all these managed exchange systems. In fact, Switzerland is a small microcosm of the bigger peg-relationships that are going to end and when they do it will be much more spectacular. This was a tremor. When the Chinese decide to abandon their peg both for the Hong Kong dollar and the Yuan, that is going to be a 10.0 on the Richter scale of economic activity. It is going to be huge!

Related trading instruments: Swiss Franc, EURCHF, Euro Currency, Hong Kong Dollar, Chinese Yuan

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: Philly Fed Crashed To 6.3

Topics: The deterioration of the U.S. economic recovery; Philly Fed Index comes below expectations;

Related trading instruments: SPDR S&P 500 Index ETF (SPY), SPDR Dow Jones Industrial Average ETF (DIA), Nasdaq 100 Index ETF (QQQ), iShares Russell 2000 Index ETF (IWM)

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: More Bad Data

Topics: The strength of the U.S. Economy; Rising Initial Claims mean less job creation going forward;

Related exchange traded funds: SPDR S&P 500 Index ETF (SPY), iShares Russell 2000 Index ETF (IWM), Nasdaq 100 Index ETF (QQQ), SPDR Dow Jones Industrial Average ETF (DIA);

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 Update: Gold, Stock Market

Topics: The state of the U.S. Economy, gold prices and the stock market.

Related exchange traded funds: SPDR Gold Trust ETF (GLD), SPDR S&P 500 Index ETF (SPY), Nasdaq 100 Index ETF (QQQ), iShares Russell 2000 Index ETF (IWM)

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

Chinese Gold Demand Picks Up

Related stocks: Barrick Gold (ABX), Newmont Mining (NEM), Goldcorp (GG), NovaGold (NG)

Topics: Gold demand;

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 Will Happen To Stocks When The Fed Raises Rates?

Topics: Will the Federal Reserve raise interest rates in 2015?

Related trading instruments: Select Sector Financial Select Sector SPDR ETF (XLF), SPDR S&P 500 Index ETF (SPY), SPDR Dow Jones Industrial Average ETF (DIA), 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.

Gold Stocks Are Leading The Market

Gold continued to trade very well through out the week. It finished in another positive note, we are above 1220 in dollars.

Gold stocks were extremely strong on the day, on the week, leading the markets thus far in 2015. In fact it is one of the only sectors, maybe the only sector that is actually positive on the year.

Despite the big run up we had on Wednesday and Thursday, we did give back a lot of that on Friday and its still been weak thus far in 2015 for stocks.

Related stocks: Newmont Mining (NEM), Barrick Gold (ABX), NovaGold (NG), 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.

U.S. Economy: Auto Loan Default Rates Are Rising

Topics: Auto loan default rates are now at the highest level in 6 years;

Related stocks: Ford (F), General Motors (GM), Tesla Motors (TSLA)

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 Crash May Be A Sign Of Things To Come

Topics: The drop in oil prices may be a sign of things to come;

Related trading instruments: United States Oil Fund LP ETF (USO), Nymex Crude Oil Futures, Energy Select Sector SPDR ETF (XLE)

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 Is In A Bull Market In Just About Every Currency

Related stocks: Newmont Mining (NEM), Goldcorp (GG), Barrick Gold (ABX), NovaGold (NG)

Related Exchange Traded Funds: Market Vectors Gold Miners ETF (GDX), SPDR Gold Trust ETF (GLD)

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 Prices Were Propped Up By The Federal Reserve

Oil prices were propped up by the Federal Reserve, so were home prices, so were stock prices. And if the Federal Reserve is not going to be there anymore, all the prices that were influenced by QE are going to come down. And since the U.S. recovery is a function of inflated asset prices, as the asset prices deflate, then the recession is going to return.

Related trading instruments: Energy Select Sector SPDR ETF (XLE), SPDR S&P 500 Index ETF (SPY), United States Oil Fund LP ETF (USO), Nymex Crude Oil Futures;

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

Services PMI Drops For The Sixth Consecutive Month

Topics: U.S. Economy, Economic Data;

Related trading instruments: 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.

Wall Street Is Not Understanding Why Oil Prices Are Crashing

We are trading just under 50 dollars per barrel. Of course most people are still talking about how great low oil prices are going to be for the U.S. Economy. But again, not understanding why oil prices are coming down.

Sure, lower oil prices will be a consolation prize, it will be a benefit but there are going to be many things that are going to be happening that will more than offset that benefit. Just the way falling oil prices in 2008 were a benefit but they did not stop the stop financial crisis and it did not stop the Great Recession.

Related: Nymex Crude Oil Futures, United States Oil Fund LP ETF (USO), Energy Select Sector SPDR ETF (XLE)

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 New Gold Bull Market In Euros & Swiss Francs

Related topics: Gold bull market;

Related currencies: Euro Currency, Swiss Franc;

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: Is The Weak Data A Prelude To An Actual Contraction?

All of the coverage that I am hearing on the news about the economic numbers coming in weak is all, "the glass is half full." People are saying, "oh, well, the numbers are lower than we expected but the economy is still growing. Yes, it is growing a bit more slowly than we thought but it is still growing."

Well, if we are going to go from growth to contraction, we have to slow down first. Yet everybody is assuming that these trends that are now entrenched are not going to continue. If you see a sharp decelaration in growth, how do you think it is not a prelude to an actual contraction?

Related exchange trade funds: 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.

U.S. Economy: More Bad Data

Related topics: U.S. Economy Outlook, ISM Manufacturing Index;

Related exchange traded funds: 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

The only way that we can avoid the inevitable is to keep creating inflation and to continue to blow air into the asset bubbles that undermine real economic growth. So, right now the Federal Reserve is unwinding QE3 and they are pretending that they are going to raise interest rates. But they actually cannot do that because of the enormity of the debt that we have. If interest rates actually went up, we would lack the ability to pay. We cannot service the debt at a normal rate of interest. The Federal Government cannot do that. And so, ultimately what is going to happen is the Fed will end up doing QE4, rather than raising interest rates, they are going to do more stimulus.

Related exchange traded funds: SPDR Dow Jones Industrial Average ETF (DIA), SPDR S&P 500 Index ETF (SPY), SPDR Gold Trust ETF (GLD)

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: Where Is The Global Demand?

I think the bigger problem is, where is the global demand? I think if the demand is contracting, it is because economies are slowing down. And I think this is going to include the United States.

Related exchange traded funds: SPDR S&P 500 Index ETF (SPY), Energy Select Sector SPDR ETF (XLE), iShares MSCI Emerging Markets Index ETF (EEM)

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: The First Of Many Bubbles To Pop?

Most of the good jobs that have been created over the past few years were created in that sector. And now these jobs are at risk. And I think this is somewhere between the dot com bubble  and the housing bubble. I think it is bigger than dot com, smaller than housing. But again there were also positive effects of falling home prices because it made cheaper for people to buy houses. But there was a lot of debt that was accumulated and a lot of layoffs in the sector, so we are looking at the same  possibilities in the oil sector burt here is a bigger equation. If it turns out that oil was just a bubble created by cheap money, well what about the stock market? What about the housing market? What about the bond market? What if they are all bubbles? What if the oil bubble is just the first of many that are going to pop?

Related exchange traded funds: Energy Select Sector SPDR ETF (XLE), SPDR S&P 500 Index ETF (SPY), Nasdaq 100 Index ETF (QQQ), SPDR Dow Jones Industrial Average ETF (DIA), iShares Dow Jones US Real Estate (ETF) (IYR)

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

Lower Oil Prices Will Push The U.S. Economy Into Recession

Long term of course, it is always a good thing. Contrary to what Central Bankers and the economist are telling us, it is always a good thing when consumer prices fall. Even Janet Yellen acknowledged the benefits of lower gas prices. Well, the same thing applies to all prices.

But here is the problem. If it turns out that we had a bubble in the energy sector, if the Federal Reserve really does raise interest rates, and I don`t really think they are going to, but if they do and the oil prices stays at these prices or goes lower, all of the activity in the oil sector for the last past several years turns out to have been a bubble and the layoffs that we are going to get in the short run and the credit losses and the Capex spending declines will be significant enough in the short run to push the U.S. Economy back into recession. I think it is a bigger impact than the bursting of the dot com bubble.

Related stocks: Exxon Mobil (XOM), Marathon oil (MRO), ConocoPhillips (COP), Chevron (CVX), Halliburton (HAL), Schlumberger (SLB)

Related exchange traded funds: Energy Select Sector SPDR ETF (XLE), United States Oil Fund LP ETF (USO)

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 Lot Of Disconnect In The Markets

There is a lot of disconnect right now in the markets. I think there is too much confidence in the legitimacy of the U.S. recovery, they are expressing that by bidding the U.S. dollar higher.

Related trading instruments: Euro Currency Futures, EURUSD forex cross;

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 Is In Rapid Deceleration

Related exchange traded funds: SPDR Dow Jones Industrial Average ETF (DIA), 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.

What Falling Oil Prices May Be Signaling

Topics: Falling oil prices may mean that the world economy is about to go into recession;

Related Exchange Traded Funds: Energy Select Sector SPDR ETF (XLE), SPDR S&P 500 Index ETF (SPY), United States Oil Fund LP ETF (USO)

Related stocks: Exxon Mobil (XOM), Halliburton (HAL), Chevron (CVX), Schlumberger (SLB), ConocoPhillips (COP), Marathon Oil (MRO)

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 Longer The Federal Reserve Waits To Raise Rates The More Painful It Will Be

If the Federal Reserve wanted to raise interest rates they would have already done it. Rates have been at zero for about 6 years. Why has the Federal Reserve not raised rates?

The reason Janet Yellen is not raising rates right now is because she does not want to. Because she is afraid of the effect it might have on the economy, on the markets. How is that effect going to be any different if she waits until April or June? It`s not.

In fact, if she is afraid to raise interest rates now, she should be even more afraid to do it in April or June because it will be a bigger bubble by then. The longer the Federal Reserve waits to raise rates the more painful it will be when she does.

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 Yellen`s Paradox

Topics: Janet Yellen`s view on falling gas and oil prices;

Related trading instruments: United States Oil Fund LP ETF (USO), Nymex Crude Oil Futures

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

Bitcoin & The Russian Crisis

Topics: Russian ruble crisis, Bitcoin, digital currencies;

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

Without QE4 Real Estate Will Look Like Oil

Topics: Housing starts, U.S. Economy, QE4;

Related exchange traded funds: iShares Dow Jones US Real Estate (ETF) (IYR), United States Oil Fund LP ETF (USO)

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 Real Reason Why Stocks and Oil Are Falling

Topics: Stock market correction, Oil crash;

Related exchange traded funds: United States Oil Fund LP ETF (USO), 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.

Russia: Central Bank Raises Rates To 17%!

Related exchange traded funds: Market Vector Russia ETF Trust (RSX), iShares MSCI Emerging Markets Index ETF (EEM);

Topics: Ruble crisis, Crude Oil downtrend;

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: More Evidence Of Economic Contraction

Topics: U.S. Economy, Empire State Manufacturing Index (December)

Related exchange traded funds:  Select Sector Financial Select Sector SPDR ETF (XLF), SPDR Dow Jones Industrial Average ETF (DIA), 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.

Stock Market: Technicals Look Pretty Weak

The technicals in these markets look pretty weak. Remember we rallied very far, very quickly and now we are in a kind of no man`s land. If you look at some of these charts there is a lot of air beneath the market before you get some real technical support. So certainly there is the potential for another big decline in the markets.

Related exchange traded funds: SPDR Dow Jones Industrial Average ETF (DIA), SPDR S&P 500 Index ETF (SPY), Nasdaq 100 Index ETF (QQQ), iShares Russell 2000 Index ETF (IWM)

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

Stock Market: A Change In Trend?

Earlier in the week I made a podcast and I was wondering wether or not the volatility that we were seeing in the markets may have been portending a change in trend and it looks right now that certainly could be the case.

The Dow Jones Industrials Index finished down 315 points on Friday to cap the worst week for the Dow in over 3 years.

Related exchange traded funds: SPDR Dow Jones Industrial Average ETF (DIA), 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.

2014: Gold vs. World Stock Markets

Topics: Stock market performance in 2014 compared to gold;

Related exchange traded funds: SPDR Gold Trust ETF (GLD), SPDR S&P 500 Index ETF (SPY), iShares MSCI Thailand Market Index Fund (THD), WisdomTree India Earnings Fund ETF (EPI), Ishares MSCI Turkey Market Index Fund (TUR), Market Vectors Vietnam ETF (VNM)

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

Retail Sales: The Economy Is Not Driven By Spending

The economy is not driven by spending, its driven by savings and production, which we do not have. But you can keep the bubble going with the spending and people do not really make a distinction between a bubble economy and a genuine economy. Just as long as the bubble can keep inflating, that is all everybody really cares about. And the evidence of that is the fact that they are still spending.

Related stocks: Ford (F), General Motors (GM), Tesla (TSLA)

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 Sharp Oil Reversal

I think this oil decline is temporary. It is a market driven phenomenon, it is technical and again it has to do with the anticipation of a tighter Federal Reserve and a strong dollar. The dollar has strengthened but the Federal Reserve has not tightened and I do not believe it is going to tighten because I think the recovery is a mirage.

And as more people figure this out in 2015, and the dollar trade reverses, I think you are going to see a sharp reversal in oil as well.

Related stocks: Exxon Mobil (XOM), Marathon Oil (MRO), ConocoPhillips (COP), Schlumberger (SLB), Halliburton (HAL), Chevron (CVX), Diamond Offshore Drilling (DO)

Related exchange traded funds: Energy Select Sector SPDR ETF (XLE), United States Oil Fund LP ETF (USO)

Topics: WTI Crude, U.S. Dollar, technical analysis, market dynamics.

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

Stock Market: No Sure Bets

Related trading instruments: SPDR Dow Jones Industrial Average ETF (DIA), SPDR S&P 500 Index ETF (SPY), Energy Select Sector SPDR ETF (XLE), Select Sector Financial Select Sector SPDR ETF (XLF), 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.

This Is Going To Light A Fire Under The Gold Trade

When people figure out that the Federal Reserve is going to print more money than Japan and Europe combined, we are not getting ready to tighten, we are getting ready to launch QE4. That is going to light a fire under the gold trade.

Related stocks: Goldcorp (GG), Newmont Mining (NEM), Barrick Gold (ABX), NovaGold (NG)

Related exchange traded funds: Market Vectors Gold Miners ETF (GDX), SPDR Gold Trust ETF (GLD)

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

If The Fed Raises Rates, All Job Creation Will Disappear

The Federal Reserve has been in a box for a long time. The jobs report is not putting it in that box. If the Federal Reserve were to raise rates, all the jobs would disappear because the recovery in only here as long as the Federal Reserve is propping it up. We got 4 economic reports that came out, the jobs report was only one. All the other 3 were bad. The Trade Deficit, the Factory Orders and the Consumer Credit. All came out much worse than expected. Most of the economic data that has been coming out has been bad.

Related exchange traded funds: SPDR S&P 500 Index ETF (SPY), SPDR Dow Jones Industrial Average ETF (DIA), 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.

Central Banks Are Playing With Fire

Topics: Central banking intervention, monetary policy, consumer prices;

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. Trade Deficit In Manufacturing Goods Hits Record High

Topics: China`s trade surplus, U.S. record trade deficit;

Related trading instruments: SPDR S&P 500 Index ETF (SPY), SPDR Dow Jones Industrial Average ETF (DIA),

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: Trade Deficit & Job Creation

If we were creating productive jobs our trade deficit would be going down but because we are not creating those type of jobs we have to import what our people are not making even if they are working, they are working in goods producing areas, which is where they need to be.

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

Is Germany Opposing An European QE?

Germany is not just one country. Germany has a lot of weight. And my guess is if the Bundesbank does not want QE, it is not going to happen. It is not like it is going to happen over their objection.

So they are going to have to convince the Germans that QE is necessary and that QE is helpful. And I think that is going to be a very difficult hurdle to overcome.

Related indexes: Dax 30 Index, Eurostoxx 50 Index;

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

Europe: QE or No QE?

The disappointment was that Draghi was not more forthright with, "Yes, we are doing QE for sure, and here is when it is going to start, and these are the particular sovereign bonds we are going to buy." He was still being evasive, he was still saying, "Well, if the circumstances are right, if we feel it is necessary, then maybe we will do it. There`s no guarantees."

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

ECB: Considering Buying Everything Except Gold

Topics: European Central Bank (ECB) asset buying program, gold;

Related trading instruments: SPDR Gold Trust ETF (GLD), Gold Futures

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

Falling Oil Prices Are Good For The European Economy

Falling oil prices are a good thing. They are good for the European economy. The only problem is that the low prices are not going to last, I think it is temporary. But the idea that Europe needs inflation is a complete and utter nonsense. Economies benefit from falling prices. Imagine if crude oil was free, if Europeans could have all the oil they wanted and did not cost anything. Wouldn't that be fantastic?

Related exchange traded funds: Energy Select Sector SPDR ETF (XLE), United States Oil Fund LP ETF (USO)

Related stocks: ConocoPhipllips (COP), Exxon Mobil (XOM), Marathon Oil (MRO), Schlumberger (SLB), Halliburton (HAL)

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: Falling Prices Would Help The Economy

Topics: Central Banking interventions to prevent deflation, Inflation defined as expansion of the money supply;

Related exchange traded funds: SPDR Gold Trust ETF (GLD), iShares Silver ETF (SLV), SPDR S&P 500 Index ETF (SPY), SPDR Dow Jones Industrial Average ETF (DIA)

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