Reality Bites – A Look Behind the Dismal Economic Data
Sunday, June 3rd, 2012 at
9:49 am
The Schiff Report (6/1/2012) Order my new book The Real Crash at www.tinyurl.com/RealCrash Follow me on Twitter @SchiffRadio Friend me on Facebook.com/PeterSchiff
Tags: numbers, obama, treasuries, gold, schiff, crisis, reserve, ipo, deficit, loans, student, producer, inflation, facebook, cpi, economy, qe2, recovery, jobs, qe
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I wish my parents and older brother could understand what peter is saying,? they don't speak english, but they think they are smarter and better off then everyone. In actuality we live on the dumps financially, look rich but feel poor
"A lot of people in government don't understand human nature." - Peter Schiff at 16:41
Exactly!, it makes me think why the Founding Fathers implemented the idea of limited government. They had a concept of human nature. They knew they could? not "perfect man."
It will make no difference if it's Mitt or Barack, they both like big government and have absolutely no clue as to what to do about the economy. They are both puppets of the Banksters and probably have very costly speaking engagements in their future, backed by Goldman Sachs and others.? Barack will spend and spend on Social Programs, and Mitt will spend on the Military for the Military Industrial Complex and Banks, it equals the same. vote Ron Paul now and end this BS, write in.
On Peter's last point - I vehemently disagree.
I think it would be much better to? have Obama as Prez when the next crash comes. If it's Romney - people WILL blame capitalism. Congress will be swept for the Democrats (possibly super majority) and then the White House will be added soon thereafter.
If though Obama is Prez - then enough people will blame him and his policies to allow Congress to go the other direction and there is some hope a real fiscal conservative could be elected.
Exxon? is also starting to look tempting at its current stock price. It offers a yield of 3.5% and it can easily rebound some four dollars. I might get into it if the stock market falls further in the next couple of days. Apple going to near 530-550 is also good.
I woud rather get into? gold company options than actual GLD. You get more for your money and most gold companies priced their future earnings based on gold at 145 an ounce for? the following quarters. Thus, with a new rally on gold, it will bust their earnings and stock in the medium term. Lot's? of them also pay a nice dividend and are far from their highs. You also get for instance Silver Wheaton (SLW) and it's literally half the price it used be a? year ago from its highs.
The other reason why gold will go up is because there's already a bubble on the treasuries-- record low yields-- and dollar already appreciated too much. Thus, the only option to someone is too stay on the side lines because as the above or get into gold or the equity market. I've shorted the euro? when it was at 1.30 to the dollar a month ago and sold my position when it went to 1.26. Last Friday, got into gold.
Gold Corp? (GG) was up 3.17 on? Friday. Hey Schiff, I think gold was up on Friday because after the horrible economic data, traders realized that a new monetary easing will come from Bernanke. Gold was also already very low. Gold was around 1450 before Bernanke came with QE2 last year and then rallied some 300 dollars afterwards. This time will be the same thing. Last month, the trade of the month was shorting the euro. This month will be long on gold.
The first decoupling of gold from the market I've seen in a while.. I guess the banksters just couldn't quash it this time! Great sign!?
thx?
Completely disagree with Peter's last point about Romney. The collapse is coming no matter who's in the White House. The issue is, who will get the blame and in my opinion, if Romney is in charge when the collapse occurs, the socialists will have a field day blaming it all on the free market. However, if Obama gets his 2nd term, they'll have a hard time blaming it all on free market. Of course, I prefer Ron Paul to be the one in charge, but it seems it'll take a? collapse for Americans to wake up
This is all extremely? bullish for both gold and silver.
And Romney isn't? My? big fear with Romney is he is going to start a war with Iran if he gets elected. He is clearly a sociopath, his entire life testifies to that.
I think the Euro is in a much worse position than you seem to think. Politically, it is loosing strength every day. We can't overlook Europe's bloody history, these countries aren't exactly life-long lovers:) We have governments disintegrating, the rise of far right groups, Gypsies being attacked in the streets and alliances breaking down like Germany/France. The Euro might? not exist in 5 years.
Obama? isnt a socialist, he's a fascist.
2% yield for a 30 year? I remember a time when even a savings account? paid 5%
I gotta get that book. But then again, I still gotta read Schiff's "Crash Proof 2.0"? and Ron Paul's "Liberty Defined"
Hey Mr schiff, what is your take on investing in southeast? asian economies?
We missed your videos the last couple? of weeks!