PETER SCHIFF

PETER SCHIFF

Friday, September 4, 2015

FED's Rate Hike Coming on September ?


Did August Jobs Ready Fed for Sept. Rate Hike?






Peter Schiff is a well-known commentator appearing regularly on CNBC, TechTicker and FoxNews. He is often referred to as "Doctor Doom" because of his bearish outlook on the economy and the U.S. Dollar in particular. Peter was one of the first from within the professional investment field to call the housing market a bubble. Peter has written a book called "Crash Proof" and a follow-on called "The Little Book of Bull Moves in Bear Markets". He is the President of EuroPacific Capital, which is a brokerage specializing in finding dividend-yielding, value-based foreign stocks.

Wednesday, September 2, 2015

No Fed Rate Hike Coming, They Never Intended To - Peter Schiff





KITCO NEWS -- Peter Schiff, CEO of Euro Pacific Capital, joins Kitco News to talk about gold, the Federal Reserve rate hikes as well as the current state of the U.S. economy. According to Schiff, the central bank does not actually want to raise interest rates, as markets perceive. 'I don’t think they’re really considering it,' Schiff said. 'I think they know that if they raise rates, everything is going to collapse and they’re going to have to cut rates back to zero and look like complete fools.' Schiff also noted that the Fed’s best course of action is to simply let markets take their course and face the crisis the Fed ‘interrupted’ a few years back with its easing measures. 'They never actually committed to [raising rates], it’s just the markets that have made that assumption,' he said. 'The Fed has not gone out of its way to correct that assumption, but I think that’s by design.' The Euro Pacific chief also commented on gold, noting that the metal is set up for higher prices. 'I think when people realize that there is no [rate] lift off from the Fed, that's when the gold rocket ship will really take off,' he said. 'I think it's going to be spectacular.'



Peter Schiff is a well-known commentator appearing regularly on CNBC, TechTicker and FoxNews. He is often referred to as "Doctor Doom" because of his bearish outlook on the economy and the U.S. Dollar in particular. Peter was one of the first from within the professional investment field to call the housing market a bubble. Peter has written a book called "Crash Proof" and a follow-on called "The Little Book of Bull Moves in Bear Markets". He is the President of EuroPacific Capital, which is a brokerage specializing in finding dividend-yielding, value-based foreign stocks.

Saturday, August 29, 2015

08-25-15 - Peter Schiff talks Crypto-Currencies & Financial Repression w/FRA







Your single global source on the Internet.

FINANCIAL REPRESSION

"Governments finds all sorts of ways of repressing their citizens and certainly do it for the banking system. In America today if you have a bank account you have no privacy anymore. Your banker is basically an unpaid spy working for the government trying to monitor your activities for anything suspicious so they can turn you into the government!"

"Inflation is a form of repression. If you save in the fiat currency the government creates, it will lose value over time as it orchestrates a deliberate plan of depreciation of the medium of exchange. So therefore you have continuous inflation. Of course to the extent you earn any money the government represses you by seizing a good portion of it with Income Tax, Inheritance Tax, The Payroll Tax etc. There all sorts of ways that the government seeks to repress us!"

BAIL-IN'S & A CASHLESS SOCIETY

Bail-ins are a function of government deposit schemes which really don't work! When these government insured banks fail, rather than having to just create a lot of money they will resort to the bail-in where they dispense the loses among the depositors. Actually (the later) is the right thing to do! We shouldn't have any government insurance for bank deposits! If you deposit your money in a bank and that bank fails, your deposits SHOULD BE at risk! In fact if we had deposits at risk we would have a much sounder banking system like we had before the invention of deposit insurance during the Roosevelt era!"

Peter Schiff points out that not all countries have these deposit schemes and the ones that don't have healthier banking institutions becuase now you have the market forces reigning in risky banking activity because "when people have to assume the risk of ther deposits they do their homework! Banks then compete with each other based on SAFETY".

BITGOLD & EURO PACIFIC BANK

"I don't think bitcoin is going to work!"

"The fatal flaw of bitcoin is that there is no true intrinsic value there! There is nothing behind it, like when you have gold."

"People find it cumbersome. How do I spend my gold? It is very easy to spend it bitcoin but how do I spend gold? I solved that problem a few years ago at my bank (Euro Pacific Bank).. which is a 100% reserve bank that doesn't make any loans. We simply charge fees for our services."

"Right now our service is a prepaid service ... but what is coming is a one step process. BitGold copied what I was doing. They are now offering the same type of pre-paid debit card that I have been offering for three years."

"What I am doing, and this change will likely take place in the next 30-60 days is we will have the first true gold backed debit card!"

There is much more in this video on coming world of gold backed debit cards






Peter Schiff is a well-known commentator appearing regularly on CNBC, TechTicker and FoxNews. He is often referred to as "Doctor Doom" because of his bearish outlook on the economy and the U.S. Dollar in particular. Peter was one of the first from within the professional investment field to call the housing market a bubble. Peter has written a book called "Crash Proof" and a follow-on called "The Little Book of Bull Moves in Bear Markets". He is the President of EuroPacific Capital, which is a brokerage specializing in finding dividend-yielding, value-based foreign stocks.