Gold Will Smell Blood of Negative Rates-Peter Schiff
By Greg Hunter’s USAWatchdog.com
Money manager Peter Schiff says forget about the Fed raising interest rates. The next move is down. Schiff explains, “I think there is a pretty good chance we’re going to get 0% interest rates before the end of the year, and I think we’re going to get QE4. We will see if the Fed is going to go negative, but they are going to do it eventually.”
On the falling markets, Schiff says, “Every decline, the Fed has come in and either launched another round of QE or hinted that another round of QE is coming. I said if they raised rates in December (2015), they would take that off the table because they would lose too much credibility to go back to QE so quickly. So, that’s why the market keeps falling and the Fed can’t stop it. I got that right.”
On the December Fed rate hike, Schiff points out, “They all said if the Fed raises rates, the dollar is going to go up and gold is going to get crushed. Well . . . the dollar got crushed and gold went up. The dollar is at a four month low, and gold is up something like $100 an ounce. That’s exactly what I said would happen.”
On the coming Fed rate cut, Schiff also predicts, “The Fed is going to cut rates because they are going to claim that the last time they did it, it worked so well. They are going to say it really worked beautifully before, and so we’re going to do it again. We are going to QE4. We’re (Fed) going to take rates back down, but we are going to go negative this time because we are starting our rate cuts from a quarter of a percent. So, you don’t get much bang from a quarter point cut, we have to go negative. This is what they are going to do. They are not going to admit that what they did, did not work. So, they are going to do it again.”
What does this do to gold? Schiff says, “The price of gold is going to skyrocket, and it’s going to go up so much more than this because we are just getting started. What is really going to power the rise is not only are we going into a recession in the U.S., but it’s going to be an inflationary recession. When the dollar tanks, because the Fed doesn’t raise rates, then consumer prices are going to take off, and they’re going to rise so rapidly there is going to be no way the government is going to be able to hide them. . . . We are going to start to see inflation rates, annual inflation rates well north of the Fed’s 2% target level. They are not going to do anything to rein in inflation because it’s impossible. Gold is going to sense this. It’s going to smell blood. You’ve got a lot of people who are shorting the gold market. They are going to get crushed.”
On inflation, Schiff contends, “I think people who have been selling gold over the last few years have been making the biggest mistake. I know CNBC wants to make fun of me because gold was at $1,700, and I was still telling people to buy it. I was telling them to buy it when it was under $300. I have been very consistent. I am not a short term trader, and I understand everything I am buying could go down. . . .Ultimately, I think anybody who bought gold at $1,700 is going to make a lot of money, and, hopefully, they were smart enough to average down when it went down in price. . . . eventually, gold is going way up.”
On CNBC and his guest appearances, Schiff says, “CNBC used to have me on all the time before the 2008 financial crisis. Even though they thought I was saying all kinds of things they thought were crazy, they had me on just to be balanced. No one knew who I was, and I was saying all these outrageous things, but ever since all the outrageous things came true, they barely have me on—ever. I make their other guests look like fools. I make the announcers look like fools, and that’s the problem. . . . You would think they would care about their audience, but I think they care more about their advertisers and their other guests that want to shill Wall Street products.”
Join Greg Hunter as he goes One-on-One with Peter Schiff, President and Founder of both Euro Pacific Capital and Schiff Gold.
(There is much more in the video interview. There is a lip sync problem that was unavoidable during the recording process. Please watch and listen anyway because the content is illuminating.)
After the Interview:
Both of Peter Schiff’s websites, EuroPac.com and SchiffGold.com, have free information and analysis. If you would like to get an updated copy of Mr. Schiff’s book, “The Real Crash, How to save yourself and your country,” please click here.
Real Americans pay their taxes not play word games about whether they think the law is good enough for them to approve of their legal obligation to do so. By the way, your interviewee must agree with me because he didn’t do as his father did. He does file and pay his share.
You do realize that making threats to abuse your position as a government agent means that you can go to prison, for a felony, for many years, right?
If you really work for the federal government I hope you are caught, and fired.
Say Greg now that you are on the IRS’s radar screen perhaps you could interview Ann Barnhardt. While she connects the dots on a host of topics as well as any I’m sure she could give you a few hints to watch out for from the old play book of Lois Learner. Stay strong and watch your back!
Greg, you should not reply to this trolling scum. I doubt he is really IRS.
If this person is a genuine fiduciary (as he claims), agitating disclosure of personal information on a public forum and interfering in the operation ongoing legitimate enterprise. Get legal advice DONOT reply to this person & sue his ass from Detroit to Alaska.
Being an Australian, I gather the IRS, stands for Internal Rectal Scans and our friendly Girard, works very closely with the PPT, Provoking Penetration Team……………call me psychic.
1. No real IRS agent would publicly say something like this – it is troll time. It’s not like you are to be held accountable for the opinions (or for the parents) of your guests!!!
2. Print the page as evidence, tho, “just in case” anyone in the government ever does try to strong-arm you, ’cause this “Agent” has just screwed their case by showing a bias against someone for the free speech of their guest!
Catherine Austin Fitts knows about persecution from the government, and when they want to go after a person, they don’t use on-line threats like this wannabe. This person is probably just an angry Hillary supporter!
Nothing ever happened to Lois Learner. EPA is out of control, NSA too. Hitlary is getting away with yet another crime. One set of laws for them, one for us… Chip
Now we have to bear the “Sins of our Fathers” in Amerika?
The point is Jerry they are losing control of this manipulation that the Rothschild’s started in 1919. Whether of not China will continue these controls when they become the centre of the gold market remains to be seen. There may be more suppression of silver because it is so important industrially. Those in control of the AIIB and BRICS banks would no doubt see the power of new fiat currencies have huge influence like the IMF and World Bank. China ,India and Russia are not going to buy all this gold just to let it amount to nothing. With real inflation running at 10% and banks in dire straits, there are few safe havens left.
So Called IRS agent,
How dare you show such disrespect to Peter Schiff as his father recently passed away.
Shame on you!!!! By the way, are you making a threat to Greg? Perhaps you could give us your Name, IRS ID and Phone number so we can ask you to provide us with Tax Advice
and we can all get acquainted. I am calling your bluff!!!
Wow you really ARE a nasty piece of work! As they say in my country, “May you have a long and awful life”
Joker. IRS don’t scare me. Pick on someone that don’t have anything to lose. I got one with your name on it.
Greg, this guy is just being facetious. He’s no IRS agent.
I couldnt help notice your very rude and cruel stance toward your fellow human beings by deriving enjoyment from someone elses suffering as you describe. You should be relieved of your duties and I believe you will be once Hillary Clinton is elected president. Government service is not a power trip. It is just that – service that you owe to the people.
Gina. If Hillary looses to barney will you support him?
That was quite crude and insulting. If you are a government employee then your character fits that of the usual alphabet agency employees…
Dear IRS agent,
Being grateful that someone has passed is the lowest form of life on this planet. But that is to be expected from you Democrats. Your only talents are name calling, taking kick back , bribes and payoffs. You don’t go after Dems do you? But soon you will all be exposed for what you are. If you had read(assuming you are able to read) his book you would see that he is 100% correct, that the income tax is unconstitutional.
In my opinion he has demonstrated more (true)Patriotism and backbone then all you Democratic a**holes put together. He is not infamous, he is a martyr. He stood up for what he believed. And he was right to do so. He was a good man and deserved better than he received. You should show at LEAST some respect for this man that has passed, but of course you and your Dems are incapable of such decency. Obama could have, and should have let him live his last few months at home with him family. But as all Democrats try to do, they inflicted as much pain as possible on this man.
God bless Irwin Schiff and his family.
gregd, very well said, Schiff was a martyr and a very brave man, he could have just paid the robbers and evoid problems but he stood by the principles of not becoming a serf to the most corrupted and powerful.
Well said !!
Not only is the IRS an illegal organisation but so too is the FED.
IMHO Irwin was a courageous American hero who was not afraid to stand up for his convictions.
I have said this on WD until I am becoming blue in the face…..
“America will continue to descend into financial and social ruin until the broken model that is the Fed is completely dismembered.”
“History will judge the informed and the financially literate very harshly. Those with this knowledge who stood by passively are the guilty parties. These people chose to look the other way and even to opportunistically line their pockets. They knew full well that Mainstreet was being robbed blind and that Bankism
[not Capitalism] would ruin the economy and the social structure of the US and have an enormously destructive influence on the entire global economy.
In all of this tragedy, the heroes are sadly very few and far between. The small select group that have loudly proclaimed the truth in last 50 years whom I would mention are JFK, Ron Paul, Rand Paul, Bernie Sanders, Ellen Brown, G Edward Griffin, and Alan Grayson. This is a pathetically small group. No doubt I have missed a few important names but the above are the ones that have made enough noise for me in the antipodes to hear their courageous message.
No fiscal, social or economic progress will be made by America until this lying, thieving and constitutionally illegal institution is completely disbanded. Perhaps the next presidential election is the only real opportunity that would avoid a continuation of another 4 years of a truly farcical central bank model to add to the previous 102 years.
History tells us that this will be a very dangerous road indeed for anyone to tread. Getting to the White house to begin the task without being hobbled will be a huge feat. Carrying through the process of the dismemberment of the FED will be truly monumental and absolutely life threatening.
Hey troll, oh sorry Mr. Friendly IRS Agent,
Let’s assume for a minute that you could be an IRS agent. Then I would CHALLENGE YOU TO SHOW US ANY LAW THAT REQUIRES AMERICANS TO PAY INCOME TAX.
I’ve researched the issue for several months. You will find nothing on irs.gov that states any legal statutes that require American citizens to pay income tax. Of course, you may find tables that say “how much” one should pay given their income bracket; but no specific clauses that say they are obligated/obliged/require/fill-in-any-synonym to pay.
The only thing you may find is reference to the ‘Internal Revenue Code’ and the ‘Revenue Act of 1913’ (which is supposed to be the legal basis under which a national income tax can be levied, purportedly through authority of the 16th Amendment, on individuals). I’ll also dare you to find the full text of the ‘Revenue Act of 1913’ anywhere on the internet (other than http://archive.org/stream/cu31924062059419/cu31924062059419_djvu.txt – search that text and tell me where it says you are required to pay). Isn’t that fishy?
Also, the IRS is merely a Collection Agency for the Federal Reserve to funnel the money it collects directly to its shareholders (private bankers, big family and rich elites). Search online ‘The Grace Commission report’ (performed under Reagan in the 1980’s) and you will find that: “… 100 percent of what is collected is absorbed solely by interest on the federal debt and by federal government contributions to transfer payments. In other words, all individual income tax revenues are gone before one nickel is spent on the services [that] taxpayers expect from their government.”
The IRS is not a lawful organization. I can elaborate on this if anyone wants me to, but for now I’ll just quote the following from an article: “Assessing whether the IRS itself is a lawful government agency is something that must also be considered. Firstly, if we refer to the relevant section of the U.S. Code (Title 31 – MONEY AND FINANCE) under Chapter 3 – DEPARTMENT OF THE TREASURY – Subchapter I – ORGANIZATION we can easily notice that there is no mention of the ‘Internal Revenue Service’ that falls under the Department of the Treasury (as it does for the ‘United States Mint’ for instance). There are no existing records that show that the IRS was created by an act from Congress.”
So Greg, I wouldn’t even bother with submitting any IRS forms. Income Taxes in the US are completely voluntary:
Paying income tax in America is Voluntary – Harry Reid reference (YouTube Video), https://www.youtube.com/watch?v=R7mRSI8yWwg&feature=youtu.be
Ex IRS agent (Sherry Jackson) tells it like it is (YouTube video), https://www.youtube.com/watch?v=s1UT2Ms5E2k and https://www.youtube.com/watch?v=F9PSYkWIuIs
If you are afraid that not paying will lead the local Sheriff or IRS Agent to come to your home and seize anything from you, be informed of the following (quoted from that article previously mentioned):
“As an example, when an IRS agent wants to seize property from a citizen in a county, he or she must first contact the sheriff of the country to assist in the seizure (because the IRS agent has no legal authority to seize any property at all); if the sheriff agrees to seize the citizen’s property, the sheriff is actually breaking the law and committing a crime (Second Degree Felony – Conversion of Property). Moreover, in this case the citizen is unaware of his or her lawful rights and may too easily give up the property. It’s also worth noting that, in reality, the sheriff is the highest constitutional executive authority in the county, even over federal agents, with the added authority to throw them out of his or her jurisdiction.” (Just google anything on “Sheriff Mack” about this topic and you will get a lot of relevant info; I also have links to his related articles and videos if you want).
If you need any more proof or facts about any of the above, I’d be glad to clarify or add more; just let me know. Other Gov’t trolls and IRS agents, I challenge you to disprove anything I’ve written. If your employer automatically deducts income tax before you get your pay check, there’s an easy way around this – just ask and I will tell you.
It’s time for people to get properly informed about income taxes and the IRS. Stop paying what you don’t need to pay folks!
Taxes is an euphemism for stealing and you are a small time crook
Dear Friendly IRS Agent. You are an indescribably vile piece of sub humanity.
Love the work you do Greg Hunter, you should be extremely proud of the invaluable service you provide, I love it when i see a new interview has been released.
Please keep up the brilliant work.
I agree with Peter Schiff in that a crash probably won’t happen in 2016. It’s election year and the dems. don’t want to take credit for a collapse and so they’ll do ANYTHING to prevent this right now. We’ll most likely see it happen in 2017 (the Phoenix bird rises from the burning paper currency….as shown on the front cover of the magazine).
Crash 2017 with new currency 2018 (Phoenix)
What an amazing prediction! Wonder if anyone else thinks no crash in 2016? Because the collapse is in process…
Unless Linda they crash the market, marshall laws, no election, Obama stays…!!!!!!
C.A. Fitts notes the market is ready for a correction, of up to 30% (12000 – ?) which could allow a rebound in time for the elections, and if timed with the euro crash, could allow the Dow to hit M. Armstrong’s 25000 figure in 2017.
Wasn’t the last crash in 2008? I believe that was an election year.
Greg: It is amazing that not enough people realize that the FED, US Treasury, BIS, and the PPT are part of the biggest criminal conspiracy that has ever existed. This group has papered over all economic problems with feel good propaganda while continuing to rape the global community, and especially the US. The collapse of the middle class is no accident; it is purposeful. I am awaiting the day when at least one of your very knowledgeable interviewees spills the beans about the true agenda of this criminal cabal, even though the fate of JFK (and many others) looms large.
That isn’t going to happen.
The most knowledgeable people in the business know exactly the true agenda of the cabal.
Rob Kirby springs to mind. Listen to what he has to say. Almost gets there.
greg, sig; Peter said, silver will eventually out perform gold, why didn’t u jump on that and ask how will it out perform gold?” also, sig, how does one short a market?
greg; “forced simplification”
When this happens most folks will undergo a “forced simplification” of their lifestyles (as well as their financial portfolios), which they will experience as disruptive and emotionally difficult. That’s not fear-mongering; it’s just math. (And it’s the reason why we encourage developing a resilient lifestyle today, to…..http://www.peakprosperity.com/blog/96701/return-crisis
BUTTE , MONTANA
11 YR OLD WHO SHOT ILLEGALS thanks FOX NEWS for reporting it. A Shotgun Armed Preteen vs. Illegal Alien Home Invaders…
Two illegal aliens, Ralphel Resindez, 23, and Enrico Garza, 26, probably believed they would easily overpower home-alone 11-year-old Patricia Harrington after her father had left their two-story home. It seems the two crooks never learned two things: they were in Montana and Patricia had been a clay-shooting champion since she was nine.
Patricia was in her upstairs room when the two men broke through the front door of the house. She quickly ran to her father’s room and grabbed his 12-gauge Mossberg 500 shotgun. Resindez was the first to get up to the second floor only to be the first to catch a near point blank blast of buckshot from the 11-year-old’s knee-crouch aim. He suffered fatal wounds to his abdomen and genitals.
When Garza ran to the foot of the stairs, he took a blast to the left shoulder and staggered out into the street where he bled to death before medical help could arrive. It was found out later that Resindez was armed with a stolen 45-caliber handgun he took from another home invasion robbery. That victim, 50-year-old David 0’Burien, was not so lucky. He died from stab wounds to the chest.
Ever wonder why good stuff never makes NBC, CBS, PBS, MSNBC, CNN, or ABC ews……..?
An 11 year old girl, properly trained, defended her home, and herself……against two murderous, illegal immigrants…….and she wins. She is still alive. Now THAT is Gun Control!
Thought for the day….
Calling an illegal alien an ‘undocumented immigrant’ is like calling a drug dealer an ‘unlicensed pharmacist.’
Look what GS is trading and go the opposite, later on you will realize what you shorted was exactly their CLOSES position.
“And just like that anyone who followed our suggestion to do the opposite of Goldman’s trade recommendations can take the rest of the year ago.”
– Short sell = Vanilla
Open Margin account with a Broker , Place orders , Sell the stock(s) , Take the proceeds
Buy the stocks back at a later date (when you are ready) , Length of position = ??
Available capital ?? Stop losses to protect unfavourable upside moves/covering.
Can do the index as opposed to individual stocks … SPDR 500 = SPY
– Put Options = right to sell a stock at a given price by a certain time.
– Inverse ETFs = RYURX , SDS , SRTY or SZO (Crude Oil Short) 😉 ;-)…. these babies go up when the market goes down….act as a hedge when you stop out of your stocks and take profits then ride the inverse etf… accumulating gains until markets bottom.
That’s it in a practical sense. Many pitfalls and traps so do some homework and get some advice.
Shorting doesn’t take / require a lot of capital ….depending on what method used…gains can be magnified….and can in some instances make up for losses taken on stocks outright (when using leveraged etf’s).
Silver outperforms Gold when the gold/silver price ratio changes in favor of silver. The price ratio is currently something like 1:78. So if the price ratio went lower to say 1:60, regardless of price, silver’s performance would have increased. And if the price ratio went to say 1:85, regardless of actual price, Gold would be outperforming Silver.
I believe that is what Peter means. Tks!
Allen Simple…silver will outperform gold because it is even more manipulated and will rise faster……. ” how does one short a market? ” Buy a short ETF or buy puts on QQQ or SPY. FAZ is my choice as banks are going down(literally).
Personally I own FAZ , QQQ puts and SDS. But the gold miners are where everyone should put their “extra” money.
We have reached a milestone
Bernie Sanders has crushed Hillary Clinton in NH
This is a good thing!!!
Why is it a good thing?
This pushes Bernie’s viewpoints into the mainstream as top topics to address.
Topics like Money paid by Wall Street to politicians and more important the Glass Steagall Act!
Yes they will vilify him but many people are listening to what he says and are seeing that what he says about what’s wrong is true!
Yes the removal of the half of the Glass Steagall Act that protects the FDIC is wrong!!
And when big banks go down you will see how wrong that was.
Yes all this money from Banks and Wall Street flowing into the hands of politicians is wrong!!
The Glass Steagall Act either needs to be restored or we need to close down the FDIC.
I had this conversation with Peter Shiff and he agrees with me.
Although he believes that closing the FDIC is better my belief is that it is required.
I don’t think any private company would replace the FDIC so if it’s done away with we will be back to the same problem that brought about the creation of the Federal Reserve in the first place.
An organization which they promised would stop bank runs.
History has proven Glass Steagall prevents Bank Runs!
But again even Glass Steagall would not help much if we don’t have sound money.
Stopping money from Wall Street will be hard but that too needs to be done.
Donald Trump has also railed against the big money interests but has not addressed sound money or the age old problem of the useless Federal Reserve.
I hope Bernie wins on the democratic side as these topics need to be addressed.
I would hate to see him win the White House but the way things are now in this country this too is a real possibility.
Fear is a good tool for change.
Those supporting Bernie Sanders are the completely uninformed young college students who haven’t a clue. I hope they don’t get their wish. How in the world do they think we’re going to pay for all his ridiculous ideas/promises. The country is already 19 trillion in debt as it is, not counting unfunded liabilities. We will NEVER pay this off, regardless who’s in the WH; but we don’t have to exacerbate the situation by adding free college, universal health insurance, etc. to the mix.
Yesterday I watched one of the cable business channels and listened to some “expert” who was perplexed because people just aren’t spending. If only people would spend things would be so much better. He said that there’s no inflation, the unemployment rate is below 5%, wages are up, there are over 5.5 million job openings; everything is so rosy. I guess this man doesn’t pay for healthcare, doesn’t pay property taxes, doesn’t go to the grocery store, hasn’t bought tires for his car in the last few years, doesn’t get utility bills. All this stuff is up. I just got my natural gas bill. Now you would think that gas is down in price so I should be seeing some savings. Well, yes in that portion of my bill I am. But that portion, the actual supply cost, only represents about 30% of the total bill. Distribution cost actually went up 10% since my last month’s bill. Then there are other charges such as customer charge, gas cost adjustment charges, pass-through charges, weather normalization charges. In all these other charges added $200 to the bill. Water, electric, sewer, trash collection; all these go up every years at a rate of 4 to 6 times the official inflation rate. Food is up continuously. Are these experts really that stupid?
We just got our house insurance bill for this year; it went up 24% from last year. My husband was livid; he said – just think, if this keeps up it will be double from last year’s rate in just 3 more years!!!
Anne, call them and request a review. I have a maximum deductible.
Same for if property taxes increase. File an appeal and push it. If the system is clogged up by too many demands, oh well. Let it be clogged.
Anne mine went from 2K to 3.5K so I sold the house Crazy criminality to do that to people
Yea, let me answer your question, they are not that stupid, just bought and paid for. P.S. loved your comment!
He’s just been way to early. Gold still needs to come down to $800 and force more people out before it will go up to $5000. This might take until 2017-2020. Loss of confidence in government is the key to golds future.
Greg, so glad you mentioned that. The reverse supply demand(due to manipulation) has created the false belief that with falling prices’ & rising demand you will still actually be able to get metal. It’s all an illusion folks. Peter loved it.
Ive been hearing about that 800 dollar gold forever now and Im truly beginning to wonder if we are ever going to see that price at this point Ron
People aren’t spending because they are helping relatives pay for utilities and groceries…it’s like England in the 1970s…no spending money.
Many of us use clothes horses for drying and other old favorites.
People are avoiding debt at any cost…enjoying little space heaters. From what I hear the children are getting more quality time and attention. That may pay off in a generation that prefers people and animals over consumer goods and pot and pills…can’t argue with that one.
I don’t see this as all bad…we’ve made some inhumane choices for 45 years now. I saw this coming when Hugh Downs on the Today show starting crapola about valuing “quality of life” instead of simply living. It was 1970.
Time to renew our fondness for simply living more than swank, bling, and 401Ks. Bye, Bye, American Eagle and other slave stores.
If it goes to 800 it will be for one reason only, and that is to reck what ever mine producing gold there is.
We have to keep in mind that those mines to remain open they have to sell at a loss.
They need to keep their equipments, workers, sites operating per standard of the industry , they will still operate at a loss piling loans to NOT CLOSE THE MINE.
If they close the mine they will have to go through another set of expenses that are hard to reverse, like sealing the mines per standards so environmentally it is safe, also liquidating their equipments, squaring off their books, so forth.
More and more mines are closing (one way traffic) at this level of price set by the cabals.
At 800 there will be much worse closures of mines and when the price reverses, when valuation comes in, then those closed mines will not keep up with the pace. There will be LAG, there will be exacerbated shortage of the gold supply ON PURPOSE by those cabals that put those mines out of business.
That sling shot upwards is meant to happen to capitalize those banks on DIGITAL RESERVES/CURRENCY, so more price per ounce the more leverage they will get and i bet you that same cabals will go long on that trade of gold.
It will take a much longer time for those mines to open up and become operative to catch up with the demand to equalize supply / demand and find the true price, and that is the intention of the Babylonian banksters.
Just a thought…!
The way other things have gone globally with our lack of leadership; I wonder how much control we have over when a fanacial calamity of the size being contemplated comes to fruition? The tech wreck started off of a financial report of a reletively small company. Unanticipated.
Ron and Greg. I was thinking the same thing. Harry Dent may be right after all. For today I will keep stacking copper and nickel. Poor mans gold. I would love to see 900.00 OZ gold.
Not trying to get rich just to stay close to middle class.
$800 gold aint happening…
As with David Stockman’s interview on CNBC I was glad you mentioned them again in regards to Peter Schiff. The latest folly interview was yesterday on their ever-slanted Futures Now show. I get a headache listening to keynesian trader Scott Nations and the host who refuse to accept the reality Peter lays out time after time.
They are just pitchmen for the stock market and will suck in as many sheeple as possible to support our rigged financial system. For those who didn’t see the latest interview Peter had with CNBC here it is and try not to laugh too loudly…
Nice Mark. Appreciate that link.
It never cease to amaze me about the fortitude that guys like Peter possess.
I saw a recent interview with David Stockman the other day on Bloomberg.
Exactly the same set up with the bozos at the desk taking David to task.
What is it with this mandate to propagate nonsense and fantasy. Absolutely clueless….anchors on MSM…..
My respect for David has suddenly gone Supernova because he is not afraid to stand out and call a spade a spade in the public domain.
Worth watching this one multiple times. I laughed so hard I was crying by the end….
Without taking away from Peter’s offering and to further your point Greg about the propaganda…here are the links to part II of David Stockman….
AND part III
this stuff is really entertaining…highest praise for David.
Wish someone would tell these guys to shut their collective mouths while someone is talking. Notice the looks on their faces when David’s finished with the tongue lashing…..PRICELESS.
Always liked and still like Peter Schiff.
Concentraded one can follow his reasoning and it does make sense.
Peter is, compared to that puppets at CNBC, smart and makes the effort as to why he comes to his conclusions, while the puppets have no clue ( even not to their own ideas).
I am always outraged watching those interviews. And always if esp. this [email protected] while hair rugby guy – dont know his name – doesnt know another way or facts, he starts to insult Peter in person to his person and not for the subject they are talking about.
Recently because of Peters forcast (If the FED raises, the market goes down) didnt set in immediately after they raised and just a month or so later (Christmas and New Year in between). Here you can see how short term and perverse the thinking of those talkheadguys is.
I admire Peter for puttung up with this stuborn and bad mannered folks, there, bad frankly – I wouldn t do it.
I was wondering, since I really can’t afford gold at the moment but can afford silver, would that be a good buy?Or should I just continue to stock up on food?
Stock up on food. It will be worth more than Gold or Silver. With hyper-inflation on the way,everything now is on sale! Get at least 6-12 months worth for your family. Then start putting extra $ in your utility accounts. Gas, water, electric, phone, cable…..Imagine how you would feel with 1 years worth of payments put away in each account. If the crash will be ass bad as some say, say hello to temperary un-employment until the reset takes place. Darren
Thanks…I didnt know you could pre-pay utilities.
And what makes you sure those accounts will not be looted?
It is not guaranteed that food will be worth more than Gold or Silver. It all depends on the situation and on what kinds of food. During the hyperinflation of the Weimar Republic, Gold increased in value more than most products. And it is not easy to store 6-12 months of food for most people. And what happens if it is that bad you got to “bug out”? How are you going to haul around 6-12 months of food? Also why would you want to pay for a 1 years worth of utilities in advance, especially cable, when in a complete financial and economic collapse those utility companies may not even be delivering anything? Just asking.
I know my bank accounts, 401K & savings will be looted. That’s a given….I would rather take my chances on putting the extra cash in my utility accounts for the benefit of my family….Just my thoughts..
What does your opinion that your bank account or 401k will be looted have to do with the discussion? How about if Mike, who seems to have already have stocked up some food but currently has no real money, that being precious metals, buys some silver?
You know how utility rates go up. If you pay a year in advance and if they are still providing their service, what happens in a hyperinflation situation like most think we are in for? I know what will happen to the money that you deposited in your utility accounts and what will happen to the price of precious metals. I would rather put extra money in precious metals in that situation, wouldn’t you?
JMILLER….I think all of us need to think through the steps that they can take to look out for themselves and families. I can’t see the reset taking longer than 6 months. If people can get through the first 6 months, I think they will have a good chance of coming out on the other side. As far as precious metals…..I heard they go good with salt and lots of ketchup. Lol… Good luck getting change for your Gold…and you better have a strong back to carry all that Silver around. I’ll choose food and neighbors who are like minded. Good luck…:)
Since no one has a crystal ball, it is unwise to be undiversified. Having some extra food and water, some precious metals, some cash, firearms and ammo and some extra gasoline is highly recommend by many people and for good reasons. Not having all in any one of these things. Since you do not believe it is worth having any or much in precious metals hopefully you have some kind of firearms and some extra gasoline.
JMILLER…I understand your concern with the food…But I would rather have plenty than not enough. The average American family has 9 meals in there homes. Once the EBT Cards get turned off…all hell will break out and the last place I want to be or my loved ones…Is a grocery store..Concerning the utilities….Rather put it there than in the banking system…It will surely be looted there….Just my thoughts…:)
Darren I’ve been prepping for years, always buy food, meds, etc.I’m not sure about the utilities, if things get that bad, i don’t think many things will be up and running(would you work if you weren’t getting paid?) So I’ll just keep adding to my food etc thanks.
Mike…..Utility companies can switch to an auto pilot too run. Only interruptions in service are addressed and men are deployed to fix it. Upgrades and basic non service related maintenance can be put off for a while. Pay your utilities ahead.
An ounce of silver now is the cost of two mcDonald meals…..Ridiculously cheap…!
Mike, silver bullion coins like the US silver eagle and the Canadaian maple leaf are affordable and a way to preserve wealth. Mr. Hunter has a link above, “Learn how to buy gold and silver.” That is a great place to start.
I saw Darren recommend buying food and paying your utility bills in advance. There is no way I would give any of my money to the utility company in advance! With regard to storing food. Be careful. I just threw away a 5-pound bag of rice from 2014. I didn’t use it and it went rancid. Also many of the premade storable food has a lot of salt in it, it is not organic, and highly processed.
If you can I would suggest you start a small garden. Good luck!
Faith, Try washing the rice with hot water to remove the oil that has gone rancid before you throw it out… Mrs. cooper
Faith, oh I’m with you about the utility companies, I work for a telecomm company and know what techs like me will do if we’re not guaranteed a paycheck. And I’ve been prepping for years now, foods covered for the next couple years or so(but can one really have to much in the way of food?) Methinks not. I guess I should have simply asked where Peter thought silver was headed since I’ve been buying it off and on for years.
Got the garden already too but thanx:)
Mike, can you get both silver and food? Silver tends to follow gold. Schiff and Mannarino have both recommended silver.
The question on the economy is settled now, but the ultimate effect on society is now the subject to consider. Gregory Mannarino believes blood and fire in the streets; others don’t look for it to be that bad. It seems that crime is on the rise in many places, unemployment is rising, and when oil & other commodities rise, there’s going to be a lot more hungry folks. It’s looking pretty rough to me. Great information and good interview! Fiddlin
Ive been following Peters work for years and he will most probably get the last laugh at the expense of the MSM clowns relatively soon and Im buying the bloody dip in physical gold and silver
Not yet Mr. schiff, not yet…!
To kill the shorts China’s reserves should not bleed much:
37 billion or so.
To be killed by the shorts China’s reserves bleed much:
200 billion or so.
To confuse, they like every one else doctored the books and came with a confusing number in between (smack in the middle):
100 billion or so.
So not yet, they are still bleeding reserves, and not out of the woods.
WAIT UNTIL FEBRUARY TO CONFIRM…..LOL
How smart Chinese are and patient, keeping every one on tip toes…..!!!!
Peter Schiff is savvy and consistent. His advice is sound.
WatchDogs know that gold (and silver) is real money. CNBC viewers will be the last to know.
Diane, yes. I agree. I was watching the mad money guy yesterday for a few minutes. He was talking up the FANGs. (Facebook, Amazon, Netflix, and Google). The prices for those companies are insane. I changed the channel after a few minutes. The guy sounded like a raving lunatic.
I’m convinced that if Yellin had announced future ZIRP or NIRP rates today, Gold would’ve spiked $50 by COB. The PMs will still spike as the central banks (DB!) sputter over their bad, energy & PIIGs related derivative bets.
I disagree with Schiff on Oil going back up this year; Oil will be Down for quite some time as industrial demand is in the toilet and they’re running out of places to store it.
DID YELLIN JUST LIE TO CONGRESS —OR ARTFULLY DODGE THE QUESTION?
AM I WRONG OR DID NOT ELLEN BROWN REPORT THAT ‘BAIL INS’ WERE PASSED IN THE LAST G-20? or did I miss hear Ms. Brown?
Bail ins have been passed in Europe. I don’t think they’ve been passed in the US yet, but they’re probably coming.
Peter Schiff has been all over this for years. He gets it right once more. No one is better.
Thanks for having him on and thank you, Greg, for this site and all you do for us.
If the Fed takes rates down to the negative side, they will have one VERY big problem.
That being actual cash. Physical, folding, paper federal reserve notes. And coins.
Physical cash will act as a detriment to negative rates, in that cash in your hand does not have a negative ‘pull’ with the exception of inflation. To make negative rates do what the central banksters want it to do, they must outlaw actual physical cash and take the entire global financial system digital. Including within countries that have negative rates. This is aimed at control. The powers that should not be want and hunger for this depth of control over the monetary system. Or stand in immediate very real danger, of losing control.
The type of inflation that Peter is referring to is monetary. Which invariably leads to price inflation. Those who have access (the 1%) to the flood first will benefit. Not so for the remainder (99%) of society. Ultimately, hyperinflation is the outcome.
Out: I can’t stand talking about inflation because people usually get the two types of inflation confused. However, I have reached the same conclusion. The monetary supply will be inflated which will lead to price inflation (the cost you pay for goods and services). What is typically used to hedge against inflation? Gold (and silver).
Greg: Great interview with fast talking Peter Schiff, he gets out a lot of good advice fast and with great passion.
Right on George. Sometimes I think he is on speed. Personally I like someone who knows what there saying and don’t waste a hour telling it.
Any way the substance is good…!
Another great interview, Greg! I appreciate you’re hard work bringing these guests to us. If you can, please ask these guests their opinions about farm commodities. Some of us would like to hear their thoughts on what to expect from corn, cotton, wheat.. prices in the future. Right now, these commodities are very low in dollar terms. Thanks again for all that you do!
Jim Rogers said when things spike down they do so be careful, but for sure it will reverse.
Trade ….. be careful.
Position for long term…..Rest assured it will be worth it:
Thanks for doing that! I know the farm commodities are a little different than the metals but they are so essential to daily life. I wonder what these commodities are currently doing in places like Venezuela or Brazil. What is it currently like for the average person in these places? It seems we are heading in that direction. I’m wondering too if farm commodities is a good place to park investment money in the coming correction. Thanks
I am tracking commodities in foreign currencies and they like but not as much as gold are up!
Thanks M and S. I have to believe that anything real will be of more value with a currency crisis. I wonder if the global market for farm commodities will stabilize such investment. In other words, the down prices now in the US is due to strong dollar. If the dollar inflates, commodities will benefit in nominal terms. It makes sense to me but I’d like to hear the opinions of the guests as well as the readers.
A comment about interest rates……I think the Fed WILL continue to raise interest rates and a big reason, not the only reason, is that since we have a Democrat in the White House the narrative the democrats want us all to think is that ‘stuffs gettin’ better!!!!! So elect democrats so things can continue to improve. To quote a phrase anyone who says the economy is getting BETTER is peddling FICTION but who cares if the masses think that is the case. The Fed, being a political animal, will go along with that narrative and one way to do so is to say that the economy is getting so good that we can RAISE interest rates. It’s obviously a blatant prevarication but will the average American question the nonsense. So interest rates will go up regardless of the REAL effect on the economy; it’s only the percieved reality that matters especially in an election year.
Mr. Schiff recommends getting out of the American Stock Market, investing in the foreign stock markets (Singapore/Switzerland etc). Unless one is an experienced short term trader, isn’t this also quite a risky venture at this point? I’d think that if the American Stock Market came tumbling down right now that they’d all be in severe trouble? Wouldn’t it be a safer route to invest in precious metals, buy land in a remote area if one has the means to purchase it, and have all the food/supplies you can store, forgetting all the stock markets?
Greg and doggers, in regard to the irs shill … back about the time Irwin Schiff was thrown in prison we were asking the irs to prove to us that we are tax payers and to give us an accurate accounting of what we owed … what we did get was a Notice of Lien which is not a lien in fact but is a threat. Never did get a real response … just a lot of headache and expense. Also does anyone have any more info about the Stop-lose Feb 18/19?? Haven’t really heard too much about this except that it may be very interesting/damaging. Yours in Faith and Liberty, FN, DB.
I will maintain saying that the ridiculous drop in oil price is ENGINEERED.
Yes economy is slowing but the oil drop is the pin to bust Germany and Russia and prevent their marriage, (Deutsche Bank has tremendous oil exposure).
This what Putin said in 2014:
He states the obvious reason:
“The obvious reason for the decline in global oil prices is the slowdown in the rate of [global] economic growth which means consumption is being reduced in a whole range of countries”
Then THE PUNCH LINE:
“Mr Putin also referred to a “distinct direct link” between physical oil markets and “the financial platforms where the trade is conducted”, in explaining part of oil price changes.”
To all the knuckle heads saying that (28.change) the oil trading as we speak is merely a slow down, i say BS.
It is the “WARREN” program by GS top notch guy they recruited just before that plunge, same guy who deployed another program called “KIODEX” just ONE MONTH before the dotcom bubble was burst.
(Circumstantial evidence but no proof).
And here is a rub:
“Four years later, Chavez quit Goldman to join Credit Suisse as the head of its energy-derivatives business”
I just hope Greg if you bold face energy-derivative business….
If you do not call this a smoking gun i do not know what is…!!!!
Its absolutely criminal.
Looks like with the blessing of US , Turkey and Saudi’s are reading to invade Syria.
This if it happens will trigger WWIII.
Looks like it will happen.
Time will tell.
Peter Schiff is 100% correct!
Now we have got the troubbles in Europe with Deutsche Bank, Credite Swiss, etc.
but people have to know, all this big banks can print their own “money”. So do not waste your time wathing to this big banks, they are allready bankcrupt since many years and if the share of one bank is on 10 or on 100 it does not matter.
The only interesting thing on the financiel markets is the gold (and silver, but more the gold) price!! They can print everything they need to save all banks in this world and they did since many years, but they can not print Gold!
Greg, you know me by now after hundreds of post, I have been hammering CNBC for years now and their “buy signal junkies” anchors/broadcasters. Glad Peter S. jumped one them, they deserve it. Frankly, CNBC are becoming not relevant due to their biases, the “bears” want out!
When the blindfolded here will see?
It is in front of their noses screaming at them but they remain oblivious…!
What do i know…?!
Just heard a discussion on NIRP today with a former Dallas Fed Prez that may be of interest… It starts at the 2:19 mark.
When he pretended he forgot the question which was the most important one, and when his face wiggled and mouth pieces started moving in the opposite direction of the face wiggle, I KNEW HE LIED.
Mr. Hunter, I always like hearing Mr. Schiff’s point of view. I agree with him, it is astounding as to how the system continues to be propped up. This is the first time I have heard anyone dip their toe in the water and advise getting ready to invest in the Renminbi or the Hong Kong dollar. I did ask in the comments section several months ago if anyone was buying those currencies or considering investing in them. The US consumer is tapped out. The Chinese consumers haven’t even started yet. While the US middle class is shrinking the Chinese middle class continues to grow.
I just received a great video montage from Peter Schiff’s Goldnews letter showing the “esteemed” crew at CNBC finally accepting reality about gold….
Hi Greg. Just finished a listen to TFMetals report…Every wed. he has a radio half hour where the cold war with Russia is discussed. In today’s session, Kissenger’s visit to Moscow was discussed…Kissenger is reputed to have said the need is for LEADERSHIP.
Oh Joy, Oh Bliss, i thought to myself….LEADERSHIP is not how i would describe our western societies. I’m very much aware the shit is hitting the fan, but frankly find so many creditable causal agents…. from the banks to the legislators, to the Neocons, to the Supreme Court, to the presidency, to the .01%, to the Military Industrial Complex, to the DEEP state, to the Main Street News …..until finally i agreed with myself to just refer to it as the ‘GREEDY”.
Who leads in the West? The great historic bulwarks of the West are fallen. Europe has been led by the nose into the destruction of its wealth and common weal. I finally realize Europe is still a vassal of the US. I wonder what kind of MOJO the US used on European leaders (there’s that word again, LEADERS) . Was it overt ( as in “Make them a deal they couldn ‘t refuse) … or are we back with the list of usual suspects i mentioned previously….
What does it say when two recognized LEADERS in the world are villified by the west?
These are our enemies, we are told…but upon any kind of impartial inspection, one would have to admit they are leaders and they know what they are doing, and why.
I won’t debate the ins and outs of islands in the south China Sea, or Syria…but let us all recognize that the US gave it’s single greatest strategic asset to China, its industry and its internal consumer markets….in a misguided step to pry them away from the Russians. How did that work out? Who were the LEADERS at the time the decision was made ….or was it made at all (refer to the usual gang of suspects, earlier).
After the Soviet breakup, the West was all agog to help out their poorer cousins . We even designed their banking system they use today. Hell, Goldman’ Sacks ‘ helped in the rape of their vast resources…. and a Russian LEADER decided this wasn’t working for his nation. Suddenly, Russia was a threat….( their GNP is about one seventh of the US ) ….and NATO expanded, and expanded to begin an encirclement of Russia ( see above ‘ An offer they couldn’t reuse’) ….which has lead me to now include ‘Nato’ in the gang of usual suspects.
The point of all this for me is we are now in the ‘Interregnum’ -the time between the fall of an empire and the rise of new empires. China can financially fall apart tomorrow …it won’t matter …they have the industrial might, and a huge internal market . The only thing the Chinese need is commodities to feed their industry….and the last time i looked, commodities were cheap. Russia is used to hardship…there is no question the West can suppress it financially, but its military options are laughable.
The West is a beached whale, thrashing in the shallows, and finding it harder to breathe. Russia and China have leaders who understand not to close with the whale, but allow time to decide the issue.
Where are the west’s LEADERS?
Regarding the price of oil, BP recently said that in about 120 days, global oil storage will be full to the brim and without a big cut in production or increase in demand, prices may he headed lower. Looks like it’s up to the House of Saud. Demand is not going to skyrocket any time soon. The FED also told banks they can be flexible in reporting the value of petro assets impaired by the plunge in the price of oil and suggested they attempt to restructure or jig the contracts to avoid pushing the borrowers into bankruptcy. Creative accounting is justified according to the Yellin group.
Frau Yellin continued her phony message of growth and prosperity today. Our gutless politicians are pathetic as well, in the questions they pose. I wanted to hear about the possibility of bank deposit confiscations, the moving of depositors to the bottom of the creditor list while moving bank derivatives to the top (thanks Citibank), the condition of the FDIC to guarantee deposits and the possible elimination of physical cash. What to we get… mostly just softball questions. From the Black Caucus, we hear members complaining that the Community Redevelopment Program wasn’t working like it was pre 2008 and the hood needs more free money. The CRP was part of the basis for making all the liar loans in the first place. They also complained the banks had removed a lot of brick and mortar locations in the inner city and they have been replaced by payday lenders and such. Wa Wa Wah. All of em are clueless.
We must remain vigilant that the bimbos in Washington don’t get us into WWIII
which would serve them well in covering up the global economic crash which is
A note to the gold naysayers, take a look at all the non-dollar countries that have suffered 20-40% declines in their currencies. Gold is working perfectly in protecting
the purchasing power lost by these devaluations. Just checking with my favorite coin dealer, 10 new gold eagles are $1253 each. Let’s hope the manipulation is over. We need to get to around $2500 oz to reflect our current level of debt. When the debt bubble blows, we could see perhaps $10000 oz in order to rebuild the global currency system with a partial gold backing. Dollar holders not hedged with gold ownership will suffer greatly.
I continue to try and explain to my wife who is a retired teacher, why our money is actually safer in our 500 pound gun safe than in our local bank. Do you agree with my accessment?
“CHINA IS TAKING OUR MONEY…..”
Does this BOZO know a swat about economy?
He may knows how to run casino , gamble and file bankruptcy twice, but ECONOMY?
More narrowed Vid on the subject:
when can we have jim sinclair back..??
Best interview I’ve seen on the Watchdog. You have to listen several times to take it all in.
Thanks for a wonderful interview, no wonder 91% of the ( democratic) electorate trust Bernie!
Greg, I saw Yellin today on cnbc, during the QA session. She said she doesn’t know if it’s even legal for the fed to lower interest rates to negative. Is she saying this to mislead the public or perhaps hide their intentions, or is this true that it could be illegal? If the EU is doing it and everybody else, why would it be illegal in the U.S.? If it is permissible, as the fed chairman, shouldn’t she and the CB know this already at this point?
When the dollar is reduced in trade other currency’s will thrive. Tangibles of all form will be wanted and needed to rebuild a new world.
Off topic While we wait for the day to get out of the city. Why do they care so much if they don’t want what we own ?
Spying is nothing more then modern day peeping Tom. http://www.theguardian.com/commentisfree/2016/feb/09/internet-of-things-smart-devices-spying-surveillance-us-government
Greg, Thanks again for all you do for us!! I pray for you regularly.
Here’s something for each of us to consider: http://z3news.com/w/prophecy-fulfilled-obama-authorizes-12-billion-military-defense-equipment/
People keep going on about China buying gold, but no one knows how much is actually being bought, and no one knows how much gold is being bought by private citizens compared to what’s being bought by the government. What does appear to be known is that Chinese citizens are getting as much of their money out of China as they can by means both legal and illegal. If China’s such an economic threat to the West, why are its citizens determined to get their money out of Dodge?
Are Canadian banks in line after Deutsche Banks?
Why would they sell their gold if it was not for the desperation of liquidity or fear from a run on the banks?
People, the ongoing gyrations in the economy are just part of our reality, but the reality is created through leadership or lack thereof within our government. High inflation and unemployment can strike anytime, but goodness here in America starts with solid proven leadership. We need a nation for all Americans not just a few. My sincere hope is that everyone gets out and supports Hillary Clinton so that we can make the America we used to know a better America for all her citizens of today. You owe it to yourself America. God bless you all. Hillary loves all of you and so do I.
Hill …therefore by deduction…is the most qualified…to be the next President of US Inc.
She will thrive in that environment because I believe “treasonous acts” have been performed consistently by the many holding office who act on behalf of a foreign government.
One day they will all hang for what they have done. When the people wake from their slumber and discover the truth….. they will revolt.
Attention all Watchdoggers I just finished watching a video of Congressman Duffy grilling Janet Yellen on Zero Hedge and it was very informative Highly recommend watching it
If you enjoy watching Fed chairpersons squirming then you are bound to like this one;
very enjoyable indeed Colin thanks I hope you got your 9K of that money Bernanke and his sister in crime Ole yeller are true shysters Why didn’t people back Ron Paul when he said we need to reign in the FED that’s what Id like to know
Col., The questions by Grayson are amazing. Everyone should hear that segment, as it really demonstrates how far reaching the Fed is Globally!
Great interview with Peter. I agreed with everything he said except perhaps his view of the timing of an oil price rally.
The outrageous comments I am hearing from the “GOP” side of the presidential race means that any one of these candidates being successful is a truly terrifying prospect for the world at large to contemplate. Rand Paul was the only Republican candidate that is not a raving warmongering lunatic and he is no longer in the race…go figure!
I will quote from the below link on this disgraceful Repubilican spectacle:
“The Republican candidates have seemingly been competing with one another over who would commit the gravest war crimes if elected. In recent months, one candidate or another has promised to waterboard, do a “helluva lot worse than waterboarding,” repopulate Guantánamo, engage in wars of aggression, kill families of suspected terrorists, and “carpet bomb” Middle Eastern countries until we find out if “sand can glow in the dark.”
I have to say that to hear this sort of narrative at this level is a tragedy for not only America but indeed the whole world. I can only agree with Gerald Celente’s recent description on WD when he described the presidential race as more akin to a “freak show” than a serious attempt to find a leader with any semblance of statesmanlike qualities.
The Democratic side of the equation scares the hell out of me as well. The Neocon dream president Hitlery will not be in the race much longer and will leave front runner Sanders with an unassailable lead. We all know that the establishment and the neocons cannot allow “The Bern” to become president because he boldly challenges their very existence at every single level.
I am truly fearfull that this courageous man will soon be hobbled out of the race and judging by the complete lack of sercurity at some of his recent Iowa street canvassing, I would hazard a guess that he could be taken out relatively easily. With Sanders out I am sure that the moronic Biden would be hastily maneuvoured into position. This fool would be the perfect puppet for the Neocons and the world would face the possibility of enduring a third term of Obamanism!
More wars! What a horrible scenario, yet I think you sum it up.
it is undeniable there are serious shifts in the markets occurring right now,
?YEN is worth watching along with precious metals.
is the YEN where HD is headed?
invaluable commentary from PS, and all those on watchdog
Another post from a year ago.
Jerry 02/11/2015 •
Just a heads up to your readers. While everyone is focusing on Greece (as well they should) right now, Germany in the end will deicide the fate of the dollar. In March 2014 Germany signed a currency pact with China accepting the RMB for payment.
They have already laid the groundwork to transition to the East if things should go bad with Greece. In economic survival, its every man for himself, and Angela Merkel is no different. I wonder why she met with Putin on Monday? Id wager it has more to do with leaving the EU than what’s happening in Ukraine.
Is anybody watching Deutsche Bank imploding right now? The talking heads on Bloomberg can’t figure out why? Dah. Nothing like offloading excess dollar baggage before you go into a new exchange system.
That was 12 months ago. Here is Deutsche Banks news for today.
Mentioning Lehman Brothers in the same sentence should send chills up your spine.
Just in case anybody missed it, Deutsche Bank has close to 100 trillion dollars in derivatives (that we know of) that is getting ready to be dumped back in the market by default. Can anybody guess where they will land?
Big Happenings This Morning.
Markets are crashing steeper. Pandemonium and mayhem in the credit sectors.
Weak global oil prices getting weaker.
Phillips 66 has dumped crude at Cushing Okla. for immediate delivery.
Crashing the 1st – 2nd month spread to 5 year lows in the process!
You can thank Warren. More lay offs coming, err… I mean “cost cutting” measures.
I like this guy personally, but he is fond of telling us how he was exactly right all the time…the problem is that if you go back prior to December he actually said THAT THE FED WOULD NOT RAISE INTEREST RATES. now he claims he never said that.
One thing about your interview that caught my attention is the fact that CNN doesn’t have people like Peter on anymore because they want their message to be consistent (a.k.a., they really want nothing to do with being a real news outlet). Well, I am a consistent viewer of your content (and I really appreciate the work you do) but, the same could be said about usawatchdog.com regarding the similar viewpoints shared. What would be fantastic is to see interviews with people who are on the other side of the fence and believe things are going to get better and that gold/silver will continue to stagnate or go even lower… and learn why they believe these things.
PS, I like most don’t have much spare cash at the end of the month (if any)… so, I can’t donate but I can help… if you ever need some help with syncing up sound/video feel free to ask me… I’d be happy to help (this particular interview with Peter was especially out of sync)
Hay martin, Greg will not have people you are asking for because they are all lier`s , Greg only brings people on that tell the real news, Open your eyes.
Peter Schiff is looking pretty smart today, with CNBC looking like a bunch of fools:
“Market panic pushes gold buying to highest level since financial crisis”, The Telegraph
very enjoyable indeed Colin thanks I hope you got your 9K of that money Bernanke and his sister in crime Ole yeller are true shysters Why didn’t people back Ron Paul when he said we need to reign in the FED that’s what Id like to know
Gold markets will break if the price keeps rising. Supply is not there to satisfy demand in a renewed bull market. One of the funny counter-intuitive aspects of the market. Higher prices begets higher prices.
Either they step back in and knock down the price of gold or they are going to lose control of the gold market.
You have got to respect Peter Schiff, he pulls no punches and tells it like it is.
Greg, CNBC is touting “bottom & buy signals”, their pundits just don’t stop. Fed Chairman in front of Congress is indicating interest rate hike, rate reduction, no change, possible change, all options, whatever; possible QE; no wonder the market has all this volatility, if you want buyers to come in a get a bottom you can’t talk out of both sides your mouth; prediction: continued lower slog as the longs continue to leave before they get completed taken to the slaughter. P.S. hey CNBC, take a look at the dollar index you been billing as the bright side of this latest correction.
Seems like the more Yeller opens her mouth to instill confidence in economy and market she instills confidence in gold…!
I wish she is in a testimony with congress on a daily basis.
We have now reach the infection point. Metals are going higher, because the element of trust has been violated. This is the rally you don’t sell. Out of 21 countries that I’ve looked at, that hit hyperinflation, the money printing factor was all present. Obama has ask for over 4 trillion budget for 2017, so hyperinflation will at some point hit. Most all our leaders would rather continue there attack on the people, and enrich the ones who funnel money to them. Nothing shy of revolution will bring the change necessary to correct the system. We need to cast every politician out of office that has voted for bailouts and budget extention, and take the money creation ability away. Allow only US treasury issued money with know interest, banked by partial gold and silver. A big percentage of the political leaders and big five bank ceo’s should be in jail.
“….the biggest drop since Lehman in 2008. Goldman’s “teens” are getting closer…”
So GS knows it will go in the teens, is it possibly because THEY ARE DROPPING IT WITH THEIR PROGRAM?
Here it is a solid proof to what i have been saying all along that the drop in oil price is ENGINEERED, and whilst the over supply of the glut is a camouflage, it is a program that is dropping or bringing up the oil price and eventually market.
From the link above to zero hedge take a look at the first charts:
Look at the volumes of the orders that dropped the price of oil down in the first chart (at the bottom of that chart the volumes of orders are in pink), there you can see the big spike in bets that brought it down. WELL…..I do not think in those few seconds the supply of oil increased dramatically…RIGHT?
Then comes OPEC mouth pieces move that they are willing to cut production if US caps it first, then voila look at the bottom volume in the same first chart and see the spike in the orders that brought the oil up (eventually bringing S&P 500 up from the critical 1812), AGAIN I do not think that oil supply shrunk all of a sudden to bring the oil all the way up in a blink of an eye.
So whoever is controlling the oil price with that program can crash the market if that entity wants, BUT CHOSE NOT TO…What support this is the spike back in oil that brought the market with it up.
Engineered drop in oil is a given, someone wants to bust the market and is holding US hostage .
YES HOLDING US HOSTAGE.
I have a theory:
I know for a fact that is TURKEY/SAUDS/ISRAEL are on the same page in M.E.
I know that SAUDS will never ever dare to manipulate the oil supply without the approval of ISRAEL. They are doing what they have been told.
I know also that Obama DOES NOT WANT WARS. He wants to finish his presidency safe and sound, and keep his legend as a peaceful person who got a NOBEL price for it.
I know also that Netanyahu is BEEN SILENT after he made a lot of noise to no avail to get OBAMA involved.
I know that the Sauds and Turks are reading an invasion to Syria but they need OBAMA on board, and if any one thinks that an invasion to Syria by turks and sauds is not with the blessing of Netanyahu then that person needs an MRI to the brain.
I also know that Kerry said it clearly that HE DOES NOT WANT A WAR WITH RUSSIA OVER SYRIA.
Just link the dots and see.
Just a theory, just a thought….could be right and could be wrong.
I’ll say it again…its criminal……
Peter doesn’t understand anything. He’s just hammers away at these overly simplified ideas unitl you can’t stand it anymore. Nobody ever gets a word in edgewise.
He is one of these idiots who hates the US because we’re too socialist, but loves China because they’re Communist. China adopted the western banking system, and integrated it into the most dysfunctional form of government ever imagined by man.
As a result, they created debt on such a gallactic scale, in such a short period of time, their economy is riddled with over capacity and mal-investment. China has produced more cement in the last three years that the US did in the entire 20th century. (Think about that, and how unsustainable that is.) The world cannot consume that much cement, so the over capacity that has grown up around that once in a lifetime demand, will collapse faster than it was created. And they have done the same thing with steel, copper, nickel, zinc, etc. etc. They will have to combat that deleveraging by printing more money than the world has ever seen, just to keep from descending into social chaos.
Central planing is always a total disaster, and this time will be no different. China is not run by geniuses, its run by the most corrput kleptocrats on the planet. They will pack up their lives and wealth and take it all to Beverley Hills, and leave China to implode behind them. I’d prefer it if they just shot each other.
China appears to be a country, but it’s really the last colonial empire, and it will follow all the others that collapsed before it: Ottoman, British, French and USSR (to name a few).
Kyle Bass will make Peter Schiff look like a fool.
I like Peter but am skeptical with his outlook on gold. The 10 year chart indicates gold can go lower (below $1000). If the economy really fails gold would be a winner but when will that be? I’d prefer the reset happens now. The stock market is acting sick and it’s the first leg of the reset. Consider this: If the economy is as wonderful as the liberal MSM tells us, why is the stock market now lower than the 2007 high, in inflation adjusted dollars?
This little piece of work came out in 2012.
True nothing in this timeline has occurred …to date….
Some might suggest its alarmist.
I think it hits a few home runs…..
Can’t say watch and enjoy though…..worthy of considering the scenario much along the lines of what Bill Holter suggests with his 48 Hrs hypothesis….and done….
Gertrude, if you know about Cyrus, you surely know about Haman. Is our innocuous(?) president our Haman?
Greg I was seriously worried about you as the 28 comments hadn’t changed all day yesterday which wasn’t normal and I saw that comment Glad to see everything is OK Frederick
No thank you for all you do and I do plug your site wherever possible
So my question is……. Will the DOW hit 6,000 or less as Greg M. says BEFORE we get the QE4 that will prop it back up to 14K-20K or whatever???
A slight disclaimer: I did not read the comments or see all of Schiff’s interview before I ask this. So if the question is already addressed, please forgive me. I am traveling right now. I will catch up. If my question is unique, well then awesome…. thanks all
I would definitely believe that they would do QE4 way before letting the DOW go down to 6,000.
So, since I am stubborn and still actually trade this crazy market….. maybe play my adverse DOW x2 (DXD) as the DOW drops and then once they announce QE4, get out of it. I suppose I could watch the DOW drop to 12,000 by the time they announce it if not all the way to the 6,000 DOW Greg Mannerino is stating. So in this case… Then get back in after the QE4 takes affect (props it back up again) and we hit another shorter term top. Then buy DXD back in and play it down again all the way to 6,000.
The thing that confuses me is that Greg Manarino says it is heading to 6,000 but Schiff says look out for QE4. So, why do you say “definitely” there will be a QE4 before it its 6,000? Will this QE make little difference and it will not prop back up after perhaps a very short bounce and then continue down to 6,000?
Any input would be appreciated.
I myself am using SDS (ProShares UltraShort S&P500 ETF) to take advantage of the stock market decline. Am I not in it right now. I found that it is always easier and safer to trade in the direction of the trend. So I have no plans to go long in the stock market for a trade since this is almost certain to be a bear market, and with the market being so volatile and with so many “black swans”, going long would be more dangerous than shorting. I usually just make low risk trades once in a while since I am not trading for a living and am content just to make some money to pay the taxes and early withdrawal penalty on my IRA distributions which is being done so I can purchase more physical precious metals. Since I started trading about 6 months ago I made about 30% in my trading (brokerage) account which would just about cover that.
You asked why do I say “definitely” there will be a QE4 before it its 6,000?” First I do not know whether they will do QE4 or not. I would think that if they would do QE4 it would be to try to keep the economy from getting worse and probably the stock market. So I see no reason why they would wait till the DOW crashes to 6,000 and probably also the economy before they would do QE4. I am not sure how much of an effect QE4 will have on the stock market. If it goes up in any meaningful way I think it will be short-lived.
Concerning SDS, the ProShares UltraShort S&P500 ETF, I meant to say that I am not in it right now.
I meant to say that DXD is an INVERSE-traded fund, not adverse….. being…. ProShares UltraShort Dow30 DXD:NYSE Arca (Exchange Traded Fund)
Thanks for your insight JMiller
As I have previously stated my opinion on oil prices, it seems logical to agree with you on the political aspect you mentioned. In my previous post on this subject I stated that, IMO, part of the reason for low oil prices could very well be a political move. It’s to my belief this is to force some countries into compliance with certain “Points of view”, or some form of economic warfare.
However, I must disagree with you on a world-wide glut being camouflage for low oil prices. From my research it seems a world-wide slow down in economies is the catalyst and is, at least in part, the reason for low oil prices . I maintain this is a multi-faceted situation as it seems logical both are at play.
It is not coincidence that the moment the NATO is officially on board with Sauds and Turks with Israel behind them, the oil jumps up with all the indices and market is green again.
Of course there has to be glut of oil so people won’t scratch their heads if oil goes down to those ridiculous levels.
However when the glut is abundant, then only FEW people will scratch their heads thinking what the hell is going on, including me….!
Is Tyler reading your site and right after my post on Schiff’s interview he is putting an “EXPLANATION” for the squeeze up in oil price?
SO any thing but GS and any think but Sauds/Israel extorting US to get it involved?????
Timing is odd of this article with the “explanation”.
Time will Tell
Friendly-Corrupt Lois Lerner,Al Sharpton the tax cheating rat,just a few corrupt names to chew on.Imo IRS needs to be audited,prosecuted and shut down corruption is so bad
My post from a year ago following your Peter Schiff interview.
Jerry 02/11/2015 •
When someone starts talking about market trends (like Gold) my brain just shuts off. Its all bovine fecal matter. We all know the markets are manipulated so why talk about it?
If you want factual economic data, check out the Money Velocity Chart, and the Dry Baltic Chart. They both tell the same story. The world economy (especially ours) is dead. The bird of destruction is just looking for a place to land. Its just a matter of where it’s going to be. Greece, Japan, Ukraine, Syria, Russia ,the United States? With a global economy it really doesn’t matter. The result will be the same. Place your bets folks. The wheel of misfortune is spinning.
You do realize that you are interviewing the son of an infamous and thankfully now deceased tax cheat, don’t you ? He was convicted of tax evasion like Al Capone and sentenced to 13 years. Thankfully, the daily inmate interactions shortened his visit last fall and we no longer have to fund his miserable existence. Gee, Greg. Looks like your return for 2015 is still due and outstanding. Hmmm. Never know when someone in our department might want to pay you a more personal visit to get acquainted.