Stock Market: Banks (J.P. Morgan (JPM), Bank of America (BAC), Citigroup (C), Wells Fargo (WFC)) & Interest Rates

Any meaningful increase in interest rates is not a positive for the financials. It is just wishful thinking that these financials are going to do well when the Federal Reserve raises interest rates.

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

Exchange Traded Fund: Select Sector Financial Select Sector SPDR ETF (XLF)

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: Shaking Out The Weak Hands

Gold and silver stocks got obliterated. Most of the gold and silver stocks were down 8 to 10 percent on the day. That is a huge move but remember the biggest moves in a bull market are down and the biggest moves in a bear market are up and that is what you got. You get these huge moves that are there to shake out the weak hands, to shake out the speculators.

All this rate hike talk, this is just a bunch of talk but it provides fear in the wall of worry this bull market is climbing.

Stocks: Newmont Mining (NEM), Barrick Gold (ABX), NovaGold (NG), Hecla Mining (NL), Goldcorp (GG), Yamana Gold Inc. (USA) (AUY), Eldorado Gold Corp (USA)(NYSE:EGO), Kinross Gold Corporation (USA) (NYSE:KGC), Gold Fields Limited (ADR)(NYSE:GFI), Harmony Gold Mining Co. (ADR) (NYSE:HMY), Randgold Resources Ltd. (ADR) (NASDAQ:GOLD)

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

Stock Market: Will the Fed Raise Rates In June?

If Wall Street actually believes that the Federal Reserve is serious about rising interest rates in June, which I do not believe, but if WallS treat believed it, the market would be tanking.

As we got closer and closer to the date that the Fed was theoretically going to raise interest rates, the market would be so low that any talk of a interest rate hike would be dead because now the Federal Reserve would have to deal with tighter financial conditions which is the way they refer to it.  (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.

The Next Crisis Will Be A Currency Crisis

People are still refusing to admit what should already be obvious. But the problem is people who believe that the Federal reserve solved the problems, they never understood the problems in the first place, that is why they were surprised by the 2008 financial crisis. That same people will be even more surprised by the next crisis which will not just be a financial crisis, it will be a currency crisis which is going to be a whole lot worse than the financial crisis.

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 Stock Market: Earnings, Federal Reserve

The stock market right now is caught between earnings going down but the belief that the Federal Reserve will come back in the game with an interest rate cut or more quantitative easing to let the market back up. (iShares Russell 2000 Index ETF (IWM), Nasdaq 100 Index ETF (QQQ), SPDR S&P 500 Index ETF (SPY), Select Sector Financial Select Sector SPDR ETF (XLF))

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: We Are In A Earnings Recession

I think we are in a earnings recession in addition to the economic recession but imagine how much worse earnings would be if the Federal Reserve did not have interest rates close to zero. So all this is artificial. (SPDR S&P 500 Index ETF (SPY), iShares Russell 2000 Index ETF (IWM), Nasdaq 100 Index ETF (QQQ), Apple (AAPL), Macy's (M))

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