Call Me Stormy

Finding righteous currents in turbulent times

Archive for the tag “Peter Schiff”

U.S. Facing Currency Collapse

Money manager Peter Schiff warns that the United States is headed for a currency collapse. And the main culprit, he says, is the debt ceiling. “This phony crisis, it’s not about not raising the ceiling. That’s the solution,” says Schiff, CEO and founder of Schiff Gold and Euro Pacific Capital. “The crisis is continuously raising it.” Schiff lays out a gloomy scenario for the economy in an interview with Greg Hunter on the USA Watchdog Channel.

Devaluing Huan No Big Deal

China has rattled the global economy by declaring its very own currency war. Financial pundits are warning that China’s devaluation of the huan spells disaster for the American economy. Not so, according to Peter Schiff, author, financial analyst and CEO of Euro Pacific Capital. “There are a lot of problems for the U.S. but this is not one of them,” Schiff says. “China’s economy is not failing. This is a small devaluation–2 percent. The Chinese currency has increased in value dramatically over the past several years along with the U.S. dollar. So this move was motivated not by the exchange rate between the huan and the dollar, but by the huan and all the other currencies because the dollar is in a bubble right now. The dollar is very overvalued.” Schiff explains further to Newsmax Prime’s J.D. Hayworth.

U.S. Facing Financial Calamity

Investment guru Peter Schiff says the financial problems plaguing Greece and Puerto Rico are eerily similar to ours here in the United States. “The reality is, we’re in worst shape than Puerto Rico,” Schiff tells Reason TV’s Matt Welch. “The debt to GDP there is only about 70 percent. Here’s it’s over 100 percent, and that’s just the tip of the iceberg. But the reason Puerto Rico has had to face the music, while we’re still dancing to it, in the United States, is because interest rates have risen in Puerto Rico and it’s the higher rates that create the problem. … The only reason we can pretend we’re solvent, is that interest rates here are at zero.”

Bailouts For Billionaires

Six years ago when America’s banks proclaimed that everyone should have a mortgage, some think they had good intentions. But as history tells us, the housing bubble burst, sending these financial institutions reeling and extending their proverbial hand in search for a government bailout. Is this the right path for our governemnt? Join consumer advocate John Stossel and Euro Pacific Capital CEO Peter Schiff for some answers as they discuss bailouts and subsidies for the financially well-connected in this edition of Liberty Pen.

Stay Tuned for Dow Doldrums

The stock market’s rise to astronomic highs in the last couple of years is not the result of a robust economy, as the Obama Administration would have you believe. But its record advance has come from a little help from a friend, specifically, the Federal Reserve Bank and its quantitative easing, or QE, plan, an unconventional monetary policy used to stimulate the economy. “We never have recovered from anything,” says financial commentator Peter Schiff. “We just got sicker. Except we just didn’t feel the pain because we had all this QE novacaine.” The QE policy, at its height, was pumping $85 billion into the bond markets, thus easing interest rates and driving the stock market to record levels. In recent months, the monetary infusion has been pared to $65 billion, prompting Schiff to predict the markets are going to collapse unless they get another fix from the Fed.

How the CPI Masks Inflation

Investment broker and financial commentator Peter Schiff says the public is right to distrust the CPI or Consumer Price Index.  It is no longer a tool to accurately measure inflation, but an instrument of propaganda the government uses to hide accelerating inflation from the public and financial markets.

To demonstrate his point, Schiff created a basket of 20 goods that consumers regularly purchase, ranging from eggs and beer to gasoline and housing rentals.  Prices for these items rose 44.3% during the last decade, but the government reported a rise in the CPI of just 27.5% during the same time frame.

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