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.