Tag Archives: Economics

Q&A With Peter Schiff: Silver Looking Golden

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“cHQ: You recently launched the EuroPac Gold Fund (MUTF:EPGFX) with Adrian Day. What sets this fund apart from the gold investing space?  PS: I launched my mutual fund family about three years ago, and I did not want to launch a gold fund then because the sector was pretty hot and the prices were high. Even though I was buying gold as a part of a diversified portfolio, I did not want to create a fund that was exclusively gold and then watch it suffer a big correction. I wanted to wait for the timing to be right.  When I launched it a little over a month ago, I think the timing had never been better and the valuations in the gold sector were as good as I have ever seen them.”

http://www.minyanville.com/trading-and-investing/commodities/articles/Peter-Schiff-Silver-Looking-Golden-silver/10/14/2013/id/52224

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The Biggest Scam In The History Of Mankind (Debt Ceiling Truth)

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“You are about to learn one of the biggest secrets in the history of the world…it’s a secret that has huge effects for everyone who lives on this planet. Most people can feel deep down that something isn’t quite right with the world economy, but few know what it is. Gone are the days where a family can survive on just one paycheck…every day it seems that things are more and more out of control, yet only one in a million understand why. You are about to discover the system that is ultimately responsible for most of the inequality in our world today. The powers that be DO NOT want you to know about this, as this system is what has kept them at the top of the financial food-chain.”

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Bill Bonner: The Fed Chief America Deserves

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“If it were that easy to create real wealth, of course, everybody would be doing it. Real wealth – like everything else that is precious – takes time, patience, and forbearance. You don’t get it by using cheap tricks and economic gimmickry. Instead, you have to pay for it. That is, you have to give something up in the present to gain more prosperity in the future. The feds’ programs promise the opposite: Americans will get something now… and pay (dearly) later. Eventually – sooner or later – Mr. Market will come down hard on investors’ heads, like a murderer armed with a claw hammer.”

http://www.bonnerandpartners.com/the-fed-chief-america-deserves/

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More on Default

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“I fully concede, a default of any kind would be harmful to individuals and institutions holding Treasury bonds in their portfolios. It would cause investors and analysts to rethink the role that T-bills play in the financial system and could cause some painful adjustments. But why should these be the only costs under consideration? What about the cost to the US taxpayer from raising the revenues needed to pay the interest on T-bills? What about the costs to everyone holding  assets denominated in depreciating dollars — depreciation that will continue as long as the Fed maintains its policy of monetizing the debt?”

http://bastiat.mises.org/2013/10/more-on-default/

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The Most Qualified Fed Chair Since Arthur Burns

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“It is not possible for any one human to have the knowledge needed to accomplish the goals established for the Federal Reserve. No person can assure Mr. Wolfers’ daughter her economic future will be bright. Ironically, that might only happen if Yellen took the job but then stepped aside to let the market determine interest rates and the flow of capital.  Given Yellen’s views and experience, best case, the professor’s daughter can look forward to a world of no-growth punctuated with the occasional banking crisis. In the worst case, Ms. Yellen will conjure up the memory of Arthur Burns.”

http://dailyreckoning.com/the-most-qualified-fed-chair-since-arthur-burns/

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Ron Paul: New Fed Boss Same as the Old Boss

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“The news that Janet Yellen was nominated to become the next Chairman of the Board of Governors of the Federal Reserve System was greeted with joy by financial markets and the financial press. Wall Street saw Yellen’s nomination as a harbinger of continued easy money. Contrast this with the hand-wringing that took place when Larry Summers’ name was still in the running. Pundits worried that Summers would be too cautious, too hawkish on inflation, or too close to big banks.  The reality is that there wouldn’t have been a dime’s worth of difference between Yellen’s and Summers’ monetary policy. No matter who is at the top, the conduct of monetary policy will be largely unchanged.”

http://www.thedailybell.com/editorials/34667/Ron-Paul-New-Fed-Boss-Same-as-the-Old-Boss/

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Venezuelan Inflation Rate Tops 49 Percent

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“Venezuela’s Central Bank says prices have risen nearly 50 percent since last September as the country struggles to rein in a quickening rate of inflation and widespread shortages.  The country’s leftist government has spent heavily on social programs, rapidly increasing the amount of currency in circulation. It also tries to control prices while restricting access to bolivars at the official rate of exchange of 6.3 per dollar. That leads many to pay seven times as much for dollars on the black market.  Officials say speculators are to blame for soaring prices and shortages.  The inflation rate for 2012 was 20.1 percent.”

http://abcnews.go.com/International/wireStory/venezuelan-inflation-rate-tops-49-percent-20541914

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David Stockman Explains The Keynesian State-Wreck Ahead

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“‘What has been growing is the wealth of the rich, the remit of the state, the girth of Wall Street, the debt burden of the people, the prosperity of the beltway and the sway of the three great branches of government – that is, the warfare state, the welfare state and the central bank… What is flailing is the vast expanse of the Main Street economy where the great majority have experienced stagnant living standards, rising job insecurity, failure to accumulate material savings, rapidly approach old age and the certainty of a Hobbesian future where, inexorably, taxes will rise and social benefits will be cut…’ He calls this condition ‘Sundown in America’.”

http://www.zerohedge.com/news/2013-10-05/david-stockman-explains-keynesian-state-wreck-ahead-sundown-america

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Jim Rogers: An ‘even worse catastrophe’ is coming

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“‘The U.S. is the largest debtor nation in the history of the world,’ Rogers told CNBC.com Wednesday night by phone from Singapore. ‘We may well have a big, big rally in the U.S. stock market, but it’s not based on reality. I would encourage investors to know you’re in a fool’s paradise, be careful, and when people start singing praises, say, ‘I’ve been to this party before, and I know know it’s time to leave.”  For Rogers, the author of ‘Street Smarts: Adventures on the Road and in the Markets,’ it is only a matter of time until the U.S. stock market runs into devastating problems due to the Fed’s quantitative easing program and the prevalence of similar stimulative programs around the world.”

http://www.cnbc.com/id/101083671

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PBS: Bitcoin gains mainstream interest after ‘outlier’ appeal

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“Bitcoin, a digital currency, has appealed to high-tech skeptics of government-issued money, as well as global criminals who are eager and able to capitalize on a totally free market. But mainstream investors are taking notice. Paul Solman reports on the potential, advantages and risks of this crypto-currency.”

http://www.pbs.org/newshour/businessdesk/2013/10/what-can-bitcoin-buy-no-more-h.html

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