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Peter Schiff

Peter Schiff

Schiff Gold

Peter Schiff is an economist and investment advisor specializing in the foreign equity, currency, and gold markets. He became internationally known by successfully forecasting the…

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Gold 2014 Half-Time Report

Highlights:

1:00 - Gold's rise has confounded Wall Street banks that advised their clients to sell in expectation of a big correction.

1:40 - Even though the financial media has focused on the Dow breaking 17,000, gold has actually outperformed the Dow this year.

2:10 - Mainstream forecasters have bought into the narrative of a genuine US economic recovery and the ability of the Fed to effectively withdraw its monetary stimulus. In fact, the economy is not recovering and will relapse into recession, perhaps beginning in the second half of 2014.

3:17 - The price of gold is putting in a bottom, supported by the mining stocks. They led the market down in 2013, and are now leading it up.

4:15 - There is going to be a short squeeze as gold sellers try to buy back their positions when they realize the economy is not recovering.

5:30 - Even though the Fed's own inflation measure has passed its target of 2%, Janet Yellen continues to claim inflation is under control.

 

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