The FED is debasing the value of its bonds by printing more money

Peter Schiff : Printing money to buy bonds is decisively negative for the bonds , because the worse thing that could happen to a bond holder is inflation is that the value of their bond in real purchasing power is diminished and that is what is happening , treasuries and dollars will buy a lot less gold and of course over time the number of ounces you will be able to buy for your dollars will continue to diminish

Peter Schiff : Paul Krugman is probably insane

Peter Schiff Radio Monday 8/29/11 : Peter Schiff : Paul Krugman is now not only proving that he deserves to win Nobel prize for stupidity but he may in fact be insane , I am not joking on that , one of the best definition of insanity is doing the same thing over and over again yet expecting a different result this describes Paul Krugman's attitude ....

Peter Schiff : Avoid Disaster, Get Out of U.S. Assets

Peter Schiff on Yahoo Finance 03 Aug 2011 : "Unfortunately, because we raised the debt ceiling, because we continue to spend money, the cost of government is going to be born by those foolish enough to hold U.S. currency," "You can't have a portfolio that's entirely gold and silver, and we don't," "If you look at the value of U.S. stocks in terms of gold, the Dow peaked in 2000 at about 43 ounces. We're now at barely 7 ounces of gold for the Dow [7 x $1650 = 11,550]. Ultimately, I think we see that ratio come down closer to 1 to 1,""There are a lot of ways to protect yourself from this disaster that awaits the U.S.," Schiff says. While he thinks "the U.S. is in more serious trouble right now than Europe," There are a lot of currencies you can own to get out of the dollar without being in the euro," and Switzerland, Norway, Sweden, China, Singapore, Canada, Australia and New Zealand are suitable alternatives.

Ultra-low interest rates are among the biggest impediments currently preventing genuine economic growth in the U.S

Peter Schiff : Ultra-low interest rates are among the biggest impediments currently preventing genuine economic growth in the U.S. economy. By committing to keeping them near zero for the next two years, the Fed has actually lengthened the time Americans will now have to wait before a real recovery begins. Artificially low interest rates are the root cause of the misallocation of resources that define the modern American economy. As a direct result, Americans borrow, consume, and speculate too much, while we save, produce, and invest too little. - in CNBC

Peter Schiff : I think the S&P is going to downgrade again

Peter Schiff : “The dollar used to be the safe haven, Treasuries used to be the safe haven, well if you are downgrading U.S. Treasuries, obviously they are not the safe haven anymore,” “For those people who believed foolishly that Treasuries were the safe haven, S&P is finally saying they’re not,” he continued. “In fact they (Treasuries) are on negative watch for a reason. I think S&P is going to downgrade again … by then, I’m sure Moody’s and Fitch will have also downgraded U.S. Treasuries.” - in www.beaconequity.com

Peter Schiff : Warren Buffett does not know what he is doing

Peter Schiff : Warren Buffett has invested 5 billion dollars in BOA Bank of America a lot of people are going to read into this Oh this is great we should buy the financials Warren Buffett he knows what he is doing he is making this big bet , he does not know what he is doing , remember the last time he did a major investment in the financials he bought into Goldman Sachs he did that as the financials first start to go down way before the financial crisis before the bankruptcy of Lehman before the government had to bail everybody out with TARP and stimulus and so had the government not come to the rescue of the banks they would have gone bankrupt and Warren Buffett would have lost it all , now it turned out that Warren Buffett ended up profiting fro the stocks that he bought but only because of the government's bailouts so the fact that Warren Buffett would have put so much money into the financials just before the financial crisis really proves that really he did not have any clue about the severity of the problem in the banking sector and he got lucky that his friends in Washington bailed him out ....

Peter Schiff : Bernanke is going to continue printing money that is all he knows

Peter Schiff : I have been buying gold for over ten years it has been good for me , people who bought stocks ten years ago have lost money and I think people who are buying bonds are going to lose even more , the rising gold prices are telling us that money is so cheap , interest rates are too low , Ben Bernanke is going to keep printing money that's all he knows to do , people were telling me that gold is in a bubble since it was at $500 , look you do not compare gold to stocks gold is money compare it to the dollar , compare it to the Euro compare it to the Yen , and so if you are going to compare it to other currencies what is more likely to maintain its purchasing power over time ? something that is scarce like gold that has intrinsic value that can't be printed or something with no intrinsic value that has been run off the printing presses like it was going out of style ...people are accumulating gold they use it the things that they need but if you understand money and gold , you save your gold and you spend your paper that's what I am doing that's what my clients are doing we are holding gold and we are spending paper , gold has always been money our founding fathers made it money ....Gold is an excellent store of value , oil is cheaper today than it was 30 or 40 years ago if you are paying for it in gold , it is more expensive if you are paying for it in dollars but not if you got real money

Peter Schiff on Ron Paul betting on Gold

Peter Schiff : there was an article on Barron's on the fact that Ron Paul was buying a lot of Gold talking about Ron Paul's portfolio being a major bet against the US economy , which in fact I guess it is but it really does not point out that it was a winning bet , betting against the US economy has been much more profitable than betting on the US economy and rather than giving Ron Paul credit for having bet correctly the idea is well he is unpatriotic for betting against America ...

The only way to actually create jobs is to get the government out of the way

Peter Schiff : The only way to actually create jobs is to get the government out of the way , President Obama has to understand that one of the reasons that jobs are not being created is because of him because of his policies because of the rules and regulations and government spending that are getting in the way of legitimate job creation ... unfortunately a lot of republican ideas are still about government spending some of the republicans do want tax cuts but they do not want offset it with spending cuts and the real burden that the government places on the economy is not the tax but what it spends because those are all resources that the private sector no longer have to invest and grow the economy , so we need to have a much smaller government in order to have a more riving economy that could produce legitimate wealth and jobs all we got before was stimulus induced high we did not have a real recovery that's why it is fading away and that's why we are headed back into recession

Peter Schiff : Treasuries are not a safe heaven

Peter Schiff on RT America 19 Aug 2011 : Gold is a safe heaven treasuries are not , people who buy Treasuries think they are safe heaven they are mistaken and when they will figure it out they will go to gold , Gold is not in any bubble because if this was a bubble or a mania you would expect gold stocks to be outperforming the metal because that's where all the speculative money flows ...there is no floor to the fiat currencies as they keep printing them so there is no ceiling for gold to go to , Gold is like a thermometer on the economy , the yield on treasuries is negative , so how you get safety with a negative yield ? I think the people who are going to lose the most money are the people who are in bonds , people will lose more money in bonds than in stocks ...Gold is the one place there is not a bubble because gold is reflecting the loss of purchasing power of fiat currencies , Gold is not going up it is paper currencies that are losing value ... Gold is money everything else is a poor substitute Related ETFs : Ishares Silver ETF (SLV), SPDR GOld ETF (GLD) SPDR GOld ETF (GLD), Powershares DB SPDR Gold ETF (GLD), Newmont Mining (NEM), Barrick Gold (ABX), GoldCorp (GG)

What The S&P is saying is get out of the US Dollar and US Debt

Peter Schiff :  “In Wall Street parlance, any downgrade means get the hell out … If they ( The Rating Agencies) go from a Strong Buy to a Buy, it means, you know, look out below,” “What S&P is saying, as far as I’m concerned, is get out of U.S. debt, any dollar-denominated debt, because what they’re really downgrading is not Treasury bonds, but the dollar.” “Because S&P knows—as Alan Greenspan said, and Warren Buffett said—they don’t have to default, they can print,” Schiff explained. “But that’s worse, especially if you’re a bondholder; you get paid back in Monopoly money.” - in the Keiser Report at Russia Today

Peter Schiff : the smart money is buying Gold the Dumb money is buying treasuries

Peter Schiff : Gold going up 35 dollars a new record high , the Swiss national bank was in there all night selling the swiss franc trying to debase the Swiss franc , but the Swiss franc is basically unchanged as is the Japanese yen , one of the reasons that so many people are piling into treasuries is because other safe heavens like the Swiss franc and the Japanese yen are kind of taken out of the mix because central banks are undermining them to prevent the safe heaven flows , so money is going to two places , the smart money is buying Gold the Dumb money is buying treasuries

Peter Schiff : we are headed back into recession

Peter Schiff On Fox Business News - 17 Aug 2011

Peter Schiff : The only way to actually create jobs is to get the government out of the way , President Obama has to understand that one of the reasons that jobs are not being created is because of him because of his policies because of the rules and regulations and government spending that are getting in the way of legitimate job creation ... unfortunately a lot of republican ideas are still about government spending some of the republicans do want tax cuts but they do not want offset it with spending cuts and the real burden that the government places on the economy is not the tax but what it spends because those are all resources that the private sector no longer have to invest and grow the economy , so we need to have a much smaller government in order to have a more riving economy that could produce legitimate wealth and jobs all we got before was stimulus induced high we did not have a real recovery that's why it is fading away and that's why we are headed back into recession ....

Peter Schiff : Get out of the US Dollar NOW !!!

Peter Schiff : The whole idea is to get out of the US Dollar to get out of a currency that is on the verge of collapse , because the people who do get out they think they are playing it safe they do not want to take any risks so they keep their money in the dollar they are going to be broke , they are going to be completely broke and that is obvious , it is obvious to me that that's what is going to happen ....and if you did not believe me up until now , you got to believe me now , look at what Ben Bernanke did he slashed interest rates to zero , Interest rates are zero now the money is free , there is no more cuts , the FED can't keep cutting interest rates anymore , they are out of bullets , and what's Ben Bernanke says he is going to do in the future to stimulate the economy , he is going to run the printing presses as fast as he can and he is going to buy government bonds , he is going to buy mortgages he is going to buy credit cards debts he is going to buy all the crap that no one else in the world wants , and this is pure inflation Latin America style , this is hyperinflation , this is Zimbabwe this is the identical monetary policy this is what the Weimar Republic did and we are going to have the same results , you can't revive the economy by printing more money they are going to suffocate it to death it is going to die by hyperinflation....

Peter Schiff on FOX Business News 15 Aug 2011

Peter Schiff : the stock market gets all the headlines but I think the markets that we should really watch are the Foregn Exchange market and the Bond market , because the FED can always prop up the stock market by printing money at least nominally , but if we get a crack in the dollar and a crack in the bond market that's really the beginning of the end , I think that's happening right now and the Bank of Japan is trying to fight this other foreign central banks are trying to prop up the dollar but I think ultimately they are going to be overwhelmed by selling ....

Peter Schiff : we are in a depression

Peter Schiff on 4 Aug 2011 BBC Newsnight : "....what happens is a lot of people who control a lot of money around the world were making bad bets on an economic recovery but the reality is all the stimulus and the bailouts in the United States did not generate any recovery it generated some debt financed consumption but that was not a recovery , in fact that actually exacerbated the underlined fundamental problems with the economy , the US is actually headed for a more severe recession than the one we think we just emerged from and in fact I think we are in a depression , and the depression is interrupted by government stimulus which only sowing the seeds for the next downturn , the markets are only beginning to come to grips with this and the less the FED comes in with more quantitative easings or stimulus the markets are going down , but the problem is weakening and undermining the economy we need higher interest rates we need the government to cut back on spending but none of that is going to happen because the politicians do not ant the voters that taste that medicine but that's the only thing that's going to cure this economy ...." Peter Schiff said

Peter Schiff on FOX News 11 Aug 2011

Peter Schiff : a politician to get elected promiss people something for nothing and we have created a dependent class but we have borrowed all sort of money to provide for it , Europe has made the same mistakes ....the governments are broke and they have to tell the people that the gravy train is over that happened in Europe now it is going to happen here in the United States and I am afraid that we are going to have some very violent reactions by the people in this country when they lose that something for nothing , who knows what's going to happen ...

Peter Schiff - Low interest rates are financing Wall Street and destroying the Dollar

Peter Schiff - FOX Business News 09 Aug 2011

Peter Schiff : The FED did not do nothing , they did something unprecedented in committing to keep interest rates practically to zero for another two years , One of the biggest problems for the US economy is that rates are too low and by keeping them low for another two years we are going to delay any real recovery , I predicted that QE2 won't work and I said that as soon as they stop the Quantative Easing the economy will be back into recession and the reason we are in recession is because of the stimulus that preceded it , and what is the FED doing , rather than allowing the market to heal and the economy to re-balance they are trying to shoot back up with more stimulus , this is going to sink the dollar it is going to rob Americans of their purchasing power ...the DOW actually lost value in terms of the Swiss francs

Peter Schiff on Zero Percent Interest Rates

Fox Business News with Lou Dobbs - Peter Schiff : unfortunately rather than learning from its past experiences the FED is repeating them , they got to keep interest rates at zero and the biggest problem facing the US economy is that rates are too low , low interest rates or zero interest rates is causing severe structural imbalances in our economy , resources land labor and capital are mis-allocated , the market needs to allocate them where they need to be , but the FED won't let that happen because the reallocation is going to be a painful process and the politicians have no stomach for the faint pain , so rather than letting the economy checking the rehab they shooting up with more drugs and we are going to overdose ....

Peter Schiff on Gold reaching $1800/oz for the first time in history

Peter Schiff : you just described the meeting that is about to take place with Obama , Geithner and Bernanke , nothing is going to come out that meting but more inflation , so if you own gold now you better hold it , you better have some gold when that meeting comes to a conclusion , there is no ceiling to the price of Gold because there is no floor to the dollar , what is our economic policy ? print money , Gold is not just a commodity it is a monetary metal and the real people are buying real money it is because they are losing faith and rightly so in Fiat money in paper money , it dos not work and you have Ben Bernanke coming out yesterday and saying he is going to keep interest rates at zero for at least another two years , how does he do that ? he has to monetize a lot of government debt , he has to keep printing money that destroys its value and so the people who are smart are moving into gold , the problem is most people have not done it yet , hardly anybody owns gold that's the problem

Peter Schiff : we are going to be in this depression for a decade may be more

Peter Schiff on FOX Business News 08/08/11

Peter Schiff : ....ever since it hit 500 people have been asking me that exact same question , and I am going to give you the same answer it is not too late to buy , Gold is going a lot higher the dollar is going to lose a lot more value and I disagree with one of your guests saying the economy was growing six months ago it was not we were hyped up on stimulus it was artificial and now the stimulus is wearing off we are in deeper ditch than we were before the stimulus and the bailouts , a lot of these financial companies that they bailed out companies like the Bank of America they are going to fail again we are going to bail all these financials it is going to cost us even more and we are going to dig the economy into deeper ditch ....we are in a depression it was interrupted by some stimulus that actually exacerbated the underlining economic fundamentals we are going to be in this depression for a decade may be more if they keep doing the wrong thing , what we need is to clean up all the excesses we need higher interest rates we need lower real estate prices , we need more savings we need more investments we need more production we are not getting any of that ...they are clueless and his speech (Obama ) today was pathetic ...

Peter Schiff : AA+ is still a too high rating - FOX News 08/06/11

Peter Schiff : the Americans should be worried about the debt that we have , , the S&P did not go far enough , downgrading the US is a good thing but I think that AA+ is still a too high rating , what you are rating is how likely a nation resorts to the printing press to pay its bills and of course in the United States that's the only thing we can do , we owe so much money that it is legitimately impossible to pay it back

Peter Schiff : S&P did not Downgrade America low enough

Peter Schiff : S&P did the right thing and downgraded them , I think the only thing that they did wrong is they did not downgraded them far enough ,they did leave it at a double A+ with a negative watch and they did mention that they might bring it down to double A in the next couple of years if the fiscal situation deteriorates which it surely will , but I do not think the US deserves to be AA+ after all New Zealand is AA+ the New Zealand dollar is making record highs net public debt in New Zealand is about ten percent of the GDP , they're far more solvent than the United States , I'd much rather buy New Zealand's Government Bonds than US treasuries

Peter Schiff : Recession is coming back - Aug 4, 2011

Peter Schiff Interview with Lou Dobbs - Aug 4, 2011
Peter Schiff :    The president is right about one thing , If Bush Had Been A Better President We Would Not Have Elected Obama! , the markets are selling off because people are finally coming to the conclusion that the stimulus  did not work recession is coming back and people calling it a double dip , I think it is all part of one big depression

Peter Schiff - BBC Newsnight 03 Aug 2011

Peter Schiff : you want to invest with the creditors you want to invest in a nation that produces all the goods that the west ius consuming they are the ones that have viable economies they do not need us , in fact having to subsidize the American consumer is actually undermining the Chinese economy and other emerging markets so to the extent that they allow their currency to appreciate they can begin to consume their own production and kind of leave the rest of the world twisted in the wind...which can happen and I agree that the problems in Europe are bad but they are more severe here in the United States

Peter Schiff : this debt deal is the biggest tax increase of all

Peter Schiff : This is a complete victory for the democrats there are no spending cuts whatsoever in this plan , and in fact the republicans are claiming that there are no tax increases that's a lie too , because the enormous increase in the national debt represents a tax increase we have to pay it back , and I think you are wrong on one thing we are not leaving it to our kids we are going to pay for it with massive inflation we going to have to run the presses 24/07 ..., which is massive inflation which is a tax on this generation not our posterity ....."
"The President Thinks They Have Raised The Debt Ceiling Enough To Get Through The Next Election I think he is probably wrong , I think the economy is going to be so weak between now and then that the debts are going to be so much worse that they think it might be , that we might run into this debt ceiling long before the November 2012 election " "the only reason the US dollar is not weaker is because people are preoccupied with European debt problems which in perspective are smaller than our own problems that is the tax we gonna pay this massive deficit trillions of dollars of debt a year it is going to be financed by the FED they are going to print money thy are going to call it QE whatever it is , but it is a tax and it hits every American who has savings who has investments who works for wages and so if you want to avoid the biggest tax increase of all you cannot own US Dollars or any debt denominated in dollars including treasuries