The Pain Trade

At the end of last year, everybody with an hedge fund was long the U.S. Dollar and short the Euro, short the Yen, short the Australian Dollar, short the Canadian Dollar, you name it. Some of these guys were short the Chinese Yuan. The Yuan had a pretty good quarter too, the strongest quarter in 2 years. So everybody who was long the U.S. Dollar and short another currency got killed in the first quarter. The on ly people that lost more money than the people shorting the U.S. Dollar were the people who were shorting gold!  (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.

Markets: Not Investing In U.S. Stocks

First of all, remember, the U.S. stock market is only up (YTD) in dollars but in almost every other currency in the world the U.S. stock market is down. So, I would caution people against investing in U.S. stocks because I think the Dollar is going to fall a lot faster than U.S. stocks will rise.

Related Exchange Traded Funds: SPDR S&P 500 Index ETF (SPY), SPDR Dow Jones Industrial Average ETF (DIA), iShares Russell 2000 Index ETF (IWM), 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.

Yellen`s Dovish Speech is Bullish For Gold

Janet Yellen gave a speech in front of the Economic Club of New York and this is probably one of the most dovish speeches, if not the most dovish speech she ever gave. As a result of this speech the price  of gold was up about 20 dollars on the day. (SPDR Gold Trust ETF (GLD), Market Vectors Gold Miners ETF (GDX), 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.

The Fed Cannot Raise Interest Rates

If the Federal Reserve tries to raise interest rates we will have a worse financial crisis than the one they caused in 2008. And so you cannot say that this is a success, it is a complete failure but people just do not know it yet because the high has not worn off. (Select Sector Financial Select Sector SPDR ETF (XLF), 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.

The Recent Gold Sell-Off Explained

When a market does not rally on good news it generally means it is overbought or ready to go down. And the people might have jumped on the failure of gold to sustain a big rally on what was perceived to be good news for gold as bad news. So that might be one of the reasons that you have the selling. To me that is a non event.

I do not buy gold because I am worried about a terrorist attack, it has nothing to do with the reasons I buy gold. I would not rush to buy gold because there was a terrorist attack. Why would I? Because when the attack is over the price goes back down. So it does not make any sense.

The real reason I buy gold  has to do with inflation, the central banks creating it, artificially low interest rates, negative interest rates, quantitative easing, all of these things.

Related trading instruments: SPDR Gold Trust ETF (GLD), Market Vectors Gold Miners ETF (GDX), Newmont Mining (NEM), Goldcorp (GG), Barrick Gold (ABX), NovaGold (NG)

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

We Will Go Back To A Gold Standard

Ultimately we will go back to a gold standard and it is going to work. Because what we have now, a fiat system does not work! (SPDR Gold Trust ETF (GLD), Market Vectors Gold Miners ETF (GDX), 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.

U.S. Dollar: The Trend Has Reversed

Looking at the trend, I think the trend in the U.S. Dollar has reversed. Because the Dollar gained for years based on the idea that the Federal reserve was going to be raising interest rates. But I know they cannot do that because the minute they raise interest rates they put us right back into recession. (SPDR S&P 500 Index ETF (SPY), iShares Russell 2000 Index ETF (IWM), 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.

Why Gold Traded Down Today?

Gold went down today because people are afraid of the Federal Reserve raising interest rates. But what happened the last time the Federal Reserve raised interest rates? Gold went way up! (SPDR Gold Trust ETF (GLD), Market Vectors Gold Miners ETF (GDX), Newmont Mining (NEM), Goldcorp (GG), Barrick Gold (ABX))

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 Chinese Recognize The Mistake

The Chinese are recognizing that they have too many U.S. Dollars. They recognize it was a mistake to peg their currency to the 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.

The American Consumer Is Not Confident

There is nothing to suggest that the American consumer is confident. All of the information shows that he is not confident!

Related stocks: Wal-Mart (WMT), Tiffany`s (TIF), Sears (SHLD), 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.

Markets: U.S. Dollar, Dividend Paying Foreign Stocks

The U.S. Dollar is falling across the board and that is going to produce spectacular returns outside the United States. So if you want to buy corporate bonds look for companies that are going to pay you in a currency that is not going to go down. But I would rather invest in dividend paying foreign stocks in countries that are going to see substantial appreciation against the dollar but also countries that have much better macroeconomic outlook. (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.

Silver Stocks Are Doing Even Better Than Gold Stocks

This long dollar trade is going to unravel fast because everyone is on the wrong side of it.

Gold is trading around 1265, it is still about 15 to 20 dollars off the highs but these gold stocks made new highs for the year and what is even better than the gold stocks are silver stocks. (SPDR Gold Trust ETF (GLD), Market Vectors Gold Miners ETF (GDX), iShares Silver ETF (SLV), Goldcorp (GG), Newmont Mining (NEM), Barrick Gold (ABX))


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

Silver Stocks Are On Fire

Silver is now leading after having lagged, and I see a lot of people out there saying, "Buy gold, short silver." And I thought, what a foolish trade!

Silver now is making new highs for the year, it is now leading gold and the silver stocks are really on fire.

Stocks: Hecla Mining (NL), iShares Silver ETF (SLV)

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 Federal Reserve Keeps Pretending That The Economy Is Strong

If the Federal Reserve were honest they would acknowledge how weak the economy is but they cannot do that for political reasons so all they can do is not raise interest rates. They have to keep pretending that they will raise interest rates so they can keep pretending that the U.S. Economy is strong. (SPDR Gold Trust ETF (GLD), iShares Barclays 20+ Year Treasury Bond ETF (TLT), 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.

This Commodity Move Is Real, We Are In A New Bull Market

The commodity currencies that have been rising are going to continue to rise against the U.S. Dollar. You are going to continue to see strength in latin America currencies, you are going to continue to see strength in Asian currencies and this means this commodity move is real, we are in a new bull market. (United States Oil Fund LP ETF (USO), Market Vectors Gold Miners ETF (GDX), SPDR Gold Trust ETF (GLD), Energy Select Sector SPDR ETF (XLE), Nymex Copper Futures, 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.

U.S. Dollar: The Fed Is About To Launch A New Easing Cycle

The Federal Reserve is about to launch a new easing cycle. As the European Central Bank (ECB) is ending its easing program, we are beginning our easing program, we are ending our tightening program.

Related: Euro / U.S. Dollar (EURUSD)

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. Elections: There Is No Chance Hillary Would Be A Good President

A lot of people are under the impression that I am endorsing Donald Trump because I have said some positive things about him and his campaign. But I want to make it clear that I am not doing that. I am not convinced that he is going to be a good President although it is possible that he could. I think there is no chance that Hillary Clinton would be a good President, I am pretty sure that is clear but Donald Trump is a wild card.

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 Economy Is Rapidly Losing Momentum

The economy is rapidly losing momentum, in fact the jobs number that came out, everybody wants to pretend that was such a great report. 90 percent of the jobs that were created were part time jobs.

Believe me, people want full time jobs, they do not want part time jobs.

ETFs: SPDR Gold Trust ETF (GLD), SPDR S&P 500 Index ETF (SPY), iShares Russell 2000 Index ETF (IWM), 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.

QE4 Will Push Commodity Prices Up Even Faster

I think we are going to do QE4 before the election and that is really going to push commodity prices up even faster. (United States Oil Fund LP ETF (USO), SPDR Gold Trust ETF (GLD), Nymex Copper 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.

Commodities: The Supply And Demand Dynamics Are Beginning To Shift

As the Dollar comes down, it increases demand for commodities because they are priced in dollars and so when the U.S. Dollar goes down it brings down the price of commodities and demand is very sensitive to price, the lower the price the bigger the demand.

The supply and demand dynamics are beginning to shift and I think we are going to see much much higher prices as the year progresses and in the following several years. (United States Oil Fund LP ETF (USO), Nymex Crude Oil Futures, 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.

Commodities Are Going Higher

It is the Dollar going down and also supply. The price is a function of supply and demand and there is a lot of reduction in exploration and production so that is also causing prices to go higher. But the Dollar has also been weakening, the Dollar is at a 7 month low against the Australian Dollar (AUD). The U.S. Dollar has been weakening considerably in recent months, weeks. (United States Oil Fund LP ETF (USO), Nymex Crude Oil Futures, 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.

Commodities Are Turning

Commodities are turning, the U.S. Dollar is turning, gold is turning and this is just going to compound the problem for the Federal Reserve. Because now they are not going to be able to hide behind the fact that there is not enough inflation. We are going to get more inflation but it is going to be stagflation.

(SPDR Gold Trust ETF (GLD), Market Vectors Gold Miners ETF (GDX), 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.

U.S. Economy: We Are Already in A Recession

I think we are already in recession. I think it began last year in the fourth quarter. Although I believe we have been in a recession for the entire recovery. I never believed that this was a legitimate recover. I think the government has been understating the amount of inflation and therefore overstating the amount of growth. That game is over.

The economy was so weak in the forth quarter that by the time they redo the numbers later in the year they are going to go back and revise that 1 percent growth to negative. And there is a very good chance that we are going to have another negative number for the first quarter of this year.

(Select Sector Financial Select Sector SPDR ETF (XLF), 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.

Will Draghi Take Europe Deeper Into Negative Rates?

There are some rumors that they are going in that direct. And I think there are nearing the end of the negative interest rates experiment. It has been a disaster, it has blown up in their faces, it is clobbering the European banks which in many cases the stocks are trading lower than they were at their lows in the 2008 financial crisis and negative interest rates are just making the problems bigger.

(Deutsche Bank, Banco Santander, Societe Generale, BNP Paribas, Credit Agricole, ABN Amro, BPI, BCP, Banco Popular)

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 U.S. Will Monetize The Debt Eventually

When foreign governments or foreign individuals buy our bonds, then the U.S. Dollar can stay strong but if we have to print dollars to buy those bonds then the supply of dollars worldwide is exploding and people can see what we are doing, they can see that we are just monetizing our debt and every country that has collapsed has collapsed for the same reason. You can look for examples of what happened to the countries that have monetized their debt. (iShares Barclays 20+ Year Treasury Bond ETF (TLT))

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

All of America`s Creditors Are Going To Stop Lending Us Money

All of America`s creditors are going to stop lending us money because we have already borrowed more than we can possibly repay.

The U.S. Dollar and U.S. Treasuries are probably the most over owned assets in the world. And if the creditors are going to stop lending us that just leaves the Federal Reserve. Because we either default which would be honest but politically almost impossible or the easier rout is to have the Federal Reserve monetizing the debt. (iShares Barclays 20+ Year Treasury Bond ETF (TLT), U.S. Treasuries)

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: Is The Bottom In? Depends On The Fed.

This is all about the Federal Reserve. Wether or not we hit bottom depends on wether the Fed capitulates.

I heard a Fed governor talk about how great the economy is and how it is going to continue on improving. It was Bullard. And Bullard was saying that this year economic growth is going to be a lot faster than it was last year. Last year we were at 1.8 percent and he is saying it will be about 2.5 percent this year.  I do not know where he is getting that number from because this year off to a much worse start than last year.

So, I do not know why he is so optimistic. So, as long as the Federal Reserve has this type of rhetoric it is going to be hard for the market to bottom. (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.

Economic Problems Are Made In America

One of the only things that are still made in America are economic problems. To try to blame things on China... This has nothing to do with China. Some of the weakest stocks in the U.S. market are stocks that derive all of their earnings (or the vast majority) 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.

The Fed Wants Inflation And They Will Get It

All the people out there that do not expect inflation, they are going to be surprised. And by the time they figure out how much inflation is coming they are going to have huge losses. That is going to be a fine example of to be careful of what you wish for because you just might get it!
When the bondholders  wake up and realize how much inflation they are going to get relative to what they expect, that is a nightmare scenario for the Federal Reserve.

(Select Sector Financial Select Sector SPDR ETF (XLF), 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.

Even Jim Cramer (CNBC) Can See There Is A Recession

Even Jim Cramer (CNBC) can see there is a recession. Cramer is saying that the Federal Reserve is blind and they cannot see a recession. That is exactly what I have been saying. Maybe Cramer has been listening to my podcasts! (SPDR S&P 500 Index ETF (SPY), SPDR Dow Jones Industrial Average ETF (DIA), Select Sector Financial Select Sector SPDR ETF (XLF), 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: What Will Happen Next

Overall the market is now recovering because I believe more and more people are beginning to realize that the Federal Reserve is not only not going to be raising interest rates in 2016 but they are going to be cutting them, they are going to be doing another round of economic stimulus and that is what is saving the stock market.

The question is, will the Federal Reserve meet those expectations and actually come out and validate them or they are going to throw cold water on it and in this that case this rally will fizzle out and the market is going to go to new lows. (SPDR S&P 500 Index ETF (SPY), SPDR Dow Jones Industrial Average ETF (DIA), iShares Russell 2000 Index ETF (IWM), Nasdaq 100 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.

Stock Market: This Is Not A Lasting Bottom

We are not going to get a lasting bottom until the Federal Reserve makes that bottom. It is not going to be a Jamie Dimon bottom, it is going to be a Janet Yellen bottom. I think it is exactly what we are going to have to do to get a real low in this market. Remember, every single decline that the market has experienced since 2009, the bottom has been set by the Federal Reserve, not by individuals trying to pick it. It has been the Federal Reserve forming that bottom by coming to the rescue with interest rate cuts, QE programs, operation twist, hinting about another QE program. And so far the Federal Reserve has done none of that.

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 Only Reason it Rose And Why Its Now Falling

The only reason that the U.S. Dollar has risen these past few years, although it is now falling so far in 2016, but the reason it rose was because everybody was convinced that what the Federal Reserve did actually worked, that we had a real recovery, that the Federal Reserve was going to be able to raise interest rates. I knew all along that it was not true!

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: U.S. Stocks, The Economy

What really should get people nervous about the economy is the economy! The economy is really sea, it is one of the reasons the stock market is going down, the other one is of course that the Federal Reserve pricked the bubble and the air is coming out. (Select Sector Financial Select Sector SPDR ETF (XLF), SPDR S&P 500 Index ETF (SPY), SPDR Dow Jones Industrial Average ETF (DIA), 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.

Gold Stocks Making New Highs

Several gold stocks that I follow, that I own, made new 52 week highs and several others did not quite make 52 week highs but are trading at the highest point of this calendar year.

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.

Why Is Goldman Sachs Picking On Gold?

Goldman Sachs (GS) came out to encourage their clients to short Gold. And you can think of all the potential shorts out there, why even short Gold? I mean, if Gold is at 1,200 and Goldman thinks its going to 1,000, if a stock is at 12 and you think the downside is 10, there is really not a lot to short there.

Why is Goldman Sachs (GS) picking on Gold with so many other good shorts out there? Most likely it is because Goldman Sachs (GS) is short gold itself and needs to cover it or just wants to buy Gold and they want to push the price down so they can buy at a better price. (Market Vectors Gold Miners ETF (GDX), SPDR Gold Trust ETF (GLD), 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.

Gold: A Bull Market Climbing A Wall Of Worry

There is still more fear than greed in the gold market. People are more worried that the market is going to crash and they want to cut and run. They are more anxious to get out, more nervous that gold is going down than they get excited when gold is going up. Well, this is a good sign of a bull market climbing a wall of worry. (SPDR Gold Trust ETF (GLD), Market Vectors Gold Miners ETF (GDX), 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.

Markets: Stocks, Gold & Gold Stocks

The stock market and the gold market are really the mirror image of each other right now. Gold tends to be trading off of stocks, if stocks are going down, gold is going up, if stocks are going up, gold is going down. So that is the dynamic that is in play right now.

Ultimately I do believe that stocks, gold and gold stocks will be going in the same direction because they will all be responding positively to the Federal Reserve admitting that is not going to raise interest rates, that it will be cutting interest rates even to negative and launching QE4. (SPDR S&P 500 Index ETF (SPY), iShares Russell 2000 Index ETF (IWM), 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.

As Long As The Fed Keeps On Bluffing, The Markets Will Keep On Falling

Whenever the Federal Reserve raised interest rates there was going to be a disaster. The fact that they waited so long means it is going to be a bigger disaster.

We are only going to have a crash if Janet Yellen continues to pretend that the economy is healthy and that the Federal Reserve is planning more interest rates hikes. I think the Federal Reserve will launch QE4, I think the next move by the Federal Reserve is to cut interest rates, not to raise them again. As long as the Federal Reserve keeps on bluffing, the markets will keep on falling.

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 Still Have Upside

These stocks are still so far from their 52 week high. Gold just made a 52 week high. I think we still have another 25 percent to go in gold stocks for them to get back to where they were last time gold was at this level.

Stocks: Newmont Mining (NEM), Barrick Gold (ABX), Goldcorp (GG)

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.

Gold: Headed Higher Short Term And Long Term

The Federal Reserve raised rates but I still believe that the next move is down. Meanwhile, gold now has to reverse the past 3 years of losses because they were based on the fantasy of a legitimacy of a U.S. economic recovery where the Federal Reserve could raise interest rates. I think gold is headed a lot higher in the short term, in the intermediate term and in the long term.

Related: SPDR Gold Trust ETF (GLD), Market Vectors Gold Miners ETF (GDX), Newmont Mining (NEM), Goldcorp (GG), Barrick Gold (ABX)

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: "I Am Telling People To Buy Gold To Hold"

You do not have to know how high the price of gold is going to go. If you think it is going up, you buy it. It does not matter how much it is going up, I mean, I am not telling people to buy gold now and sell it later in the year. I am telling people to buy gold to hold. (SPDR Gold Trust ETF (GLD), Market Vectors Gold Miners ETF (GDX), 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.

Markets: Sell-Off In European Banks

These big banks in Europe are lower than they were at their lows in 2008/2009 financial crisis. And the big one is Deutsche Bank AG (NYSE:DB) which had to come out and assure everybody that they do not have any solvency problems which is very reminiscent of Lehman Brothers or Bear Stearns.

Related stocks: Bank of America (BAC), Citigroup (C), Morgan Stanley (MS), Goldman Sachs (GS)


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: Up $120/ Ounce Since The Fed Raised Interest Rates

Gold was up 5 percent on the week. The price of gold has now risen 120 dollars an ounce since the Federal Reserve raised interest rates in December.

Related: Newmont Mining (NEM), Goldcorp (GG), Barrick Gold (ABX), 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.

The Vast Majority Of Nasdaq Stocks Are In Bear Markets

The vast majority of Nasdaq stocks are in bear market.s. Many of these stocks are down 40 or 50 percent or even more. In fact there are a number of Nasdaq stocks that are down 40 percent in a day! (LinkedIn Corp (LNKD)) The Russell 200 Index is already in a bear market. It is down 24 percent from its high.

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

Interest Rates: We Are Going Negative

The Federal Reserve is only pretending to go the other way. I said this before, if the Federal Reserve actually raised interest rates the next thing they would do was to cut them. Everybody wants to pretend that the Federal Reserve is going to raise interest rates because the U.S. is supposedly the only example that quantitative easing (QE) actually works. But it did not work. It was a complete failure! But everybody wants to pretend that it was a success, they want to pretend that they are going to raise rates. We are going to go back to zero interest rates, in fact we are going to go negative, we are probably going to be lower than Europe or Japan. We are going to back up the truck with QE4, which is going to be bigger than QE3 but none of it works!

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 Only Reason Jobs Are Being Created

The only reason jobs are being created is because so many Americans now have two or three part time jobs. We are destroying real jobs, goods producing, full time jobs, we are replacing them with service sector jobs, low paying, part time work. That is the real story!

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 Recession Will Be Longer & Deeper

The U.S. Economy is in recession right now and this recession is going to last longer and be even deeper than the Great Recession of 2008-2009. So we are going to have to rename that recession because this one will be greater!

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 Reason Why The Stock Market Is Going Down

The reality is the market is going down because it is a bear market, that is why it is going down. The market is going down because the U.S. Economy is in a recession and there is nothing the Federal Reserve can do about it unless it wants to lose its credibility or acknowledge that the economy is much weaker than they thought. (Select Sector Financial Select Sector SPDR ETF (XLF), Energy Select Sector SPDR ETF (XLE), 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.

National Debt: There Is Going To Be A Crisis Along The Way

Barack Obama might have already doubled the national debt since he was sworn in. We doubled the debt, doubled it! We added as much debt under Obama as we did from George Washington to George W. Bush. And of course if this continues, the next president is going to double the 19 trillion to what? 40 trillion, that is impossible right? So there has to be crisis somewhere along the way. There is no way we can continue on this tranjectory.

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