U.S. Economy: The Fantasy Is Going To End

The weather excuse is going to run dry soon, we are going to get into Spring, it is April and it is not going to be as cold, its not going to snow but it may rain on the Wall Street`s excuse parade., that is for sure.

Because if we continue to get weak numbers as I expect, through out the Spring, then this all fantasy is going to come to an end.

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: The Next Crisis

The crisis that is coming is going to be a dollar crisis. The dollar was down 1 percent in a thin holiday trading session immediately following the release of this very disappointing March jobs report. But the decline in the dollar is just getting started.

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: A Dismal Jobs Report

The actual number was 126,000 jobs. That is it. That is the fewest number of jobs that we have created since December of 2013. That means we did better in the Polar Vortex during January, February and March of 2014. This was worse than those numbers.

Now to add insult to injury, they went backwards and they took 67,000 jobs away for the last 2 months.

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. Dollar Rally Is False

The U.S. dollar is still on the defensive, it has not imploded yet, but it is not making new highs anymore. And I think that the speculators that have been buying up dollars (and again, this is the most crowded trade, long the dollar, short just any other currency), the speculators who are on this trade are having a hard time acknowledging that it is not working out. It is very tough to break this trend. You get all this news that keep coming out that should be lifting lightbulbs on people`s heads.

The whole rationale for the strong dollar is based on a strong U.S. Economy and the Federal Reserve raising rates. Well, if the U.S. Economy is not strong and if we are getting back into recession, if the Federal Reserve is going to be doing QE4 then the U.S. Dollar`s rally is all false.

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 & Gold: Searching For A Bottom

Oil really looks like it is searching for a bottom just like Gold is searching for a bottom. We had a very, very strong day in Gold. The price of Gold is now back above that psychological important 1,200 level.

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

Currency Markets Are Prepared For The Opposite Of What Is Going To Happen

I think what you are going to have is Central Banks increasing interest rates around the world at the time the Federal Reserve is doing QE4.

So, I think the currency markets are prepared for the opposite of what actually is going to happen. They think everybody in the world is going to be easing and the Federal Reserve is going to be the only central bank tightening. We will be doing QE4 and other central banks are going to be trying to put out the inflationary fire that they lit on purpose.

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