Peter's Blog

The Fed’s Tightening Pipe Dream

By Peter Schiff Testifying before the US Senate this past Tuesday, Fed Chairman Ben Bernanke made an extraordinary claim about its bloated balance sheet: “We could exit without ever selling by letting it run off.” What Bernanke means here is that the Fed could simply hold its Treasuries and agency bonds until they mature, at […]

Bloomberg Gold Report Misses the Mark

By Jeff Clark from Casey Research Bloomberg reported last week that Russia is now the world’s biggest gold buyer with its central bank having added 570 tonnes (18.3 million troy ounces) over the past decade. At $1,650/ounce, that’s $30.1 billion worth of gold. Russia isn’t alone, of course. Central banks as a group have been […]

This Month in Gold – February 2013

Germany Repatriating Gold in Case of Currency Crisis Forbes – Germany’s central bank announced plans to bring 50% of its total gold reserves back to Frankfurt from the US and France. 300 tons of gold will be moved from the NY Fed to the Bundesbank over the next seven years. A Buba spokesman said they […]

Be Prepared: Get Out of the Dollar

Last week, Peter Schiff spoke with Tekoa Da Silva of Bull Market Thinking about the future of gold and the real crash that is just around the corner. I don’t know where the bottom is [in gold], but I think once we hit it, we are headed dramatically higher, to levels very few people can […]

Buying Gold and Silver Is Not Complicated

You’ve been reading the news and watching the economy. You know things are bad, and likely to get worse as central banks around the world continue to print money for irresponsible governments to squander. You know this means the purchasing power of the dollar is deteriorating, and that holding savings in dollar-denominated assets is probably […]

Schiff in the News: Currency War Means Buy Gold

Both CNBC and MarketWatch ran articles this week about Peter Schiff’s outlook of where the American economy is headed. CNBC wrote about the international currency war, and Peter’s belief that America will ultimately win, therefore destroying consumer purchasing power and bolstering gold.

“Money Is Gold, and Nothing Else”

By Dickson Buchanan The Setting: The Bank and Currency Committee, Washington, DC, 1912. In the Panic of 1907, the stock market fell over 50% in one day and caused massive bank runs. Bailouts had done little to restore confidence. Five years later, all this still lingered palpably in the minds of the crowd packed into […]

Virginia Eyes Monetary Reform

The New York Sun published an editorial this week looking at proposed legislation in Virginia that would examine the viability of a metal-backed monetary standard. If the federal government doesn’t understand the importance of real money, maybe the states will take up the banner. “It’s starting to look like Virginia could yet emerge in a […]

Argentina Prepares for Hyperinflation

The Argentinian government has frozen super market prices for the next two months in a misguided attempt to stop inflation. A new commentary on Zero Hedge compares Argentina’s financial decline to the state of affairs in developed countries around the world. Are you prepared for sudden hyperinflation? “Up until now, Argentina’s descent into a hyperinflationary […]

The Bernanke Shock

By Peter Schiff The financial world was shocked this month by a demand from Germany’s Bundesbank to repatriate a large portion of its gold reserves held abroad. By 2020, Germany wants 50% of its total gold reserves back in Frankfurt – including 300 tons from the Federal Reserve. The Bundesbank’s announcement comes just three months […]