Gold 2014 Half-Time Report

By: Peter Schiff | Thu, Jul 10, 2014
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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.

 


 

Peter Schiff

Author: Peter Schiff

Peter Schiff, CEO
SchiffGold

Peter Schiff

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 collapse of the dot-com bubble, the US housing market bubble, and the bankruptcy of major global banks. Schiff is Chairman of gold bullion dealer SchiffGold and CEO of stock brokerage firm Euro Pacific Capital. He frequently delivers lectures at major economic and investment conferences, and is quoted often in the print media, including the Wall Street Journal, New York Times, LA Times, Barron's, BusinessWeek, Time and Fortune. His broadcast credits include regular guest appearances on CNBC, Fox Business, CNN, MSNBC, and Fox News Channel, as well as hosting his own weekly radio show, The Peter Schiff Show. He is also the author of several bestselling books, including "Crash Proof: How to Profit from the Coming Economic Collapse" released in 2007 before the financial crisis struck, and the more recent "How An Economy Grows And Why It Crashes" and "The Real Crash: America's Coming Bankruptcy."

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