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Peter Schiff
The Real State of the Union - 2013
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Showing posts with label US Treasury. Show all posts
Showing posts with label US Treasury. Show all posts
Friday, February 15, 2013
Wednesday, January 2, 2013
Peter Schiff: Congress Sells America Down the River to Avoid the Fiscal Cliff
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Peter Schiff
Congress Sells America Down the River to Avoid the Fiscal Cliff
In a disgraceful show of political expediency, Congress put its own political self-interest ahead of the national interest. They "saved" us from a contrived crisis of their own making, only to condemn us to far more horrific fate when the real crisis arrives. This one will come not because we went over the fiscal cliff, but because we avoided doing so. Going over the fiscal cliff merely represented a small down payment on the solution. By failing to make it, the ultimate price we will inevitably pay will be that much higher.
In a disgraceful show of political expediency, Congress put its own political self-interest ahead of the national interest. They "saved" us from a contrived crisis of their own making, only to condemn us to far more horrific fate when the real crisis arrives. This one will come not because we went over the fiscal cliff, but because we avoided doing so. Going over the fiscal cliff merely represented a small down payment on the solution. By failing to make it, the ultimate price we will inevitably pay will be that much higher.
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Saturday, December 22, 2012
John Williams: America in New Recession in 2013
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John Williams
John Williams of Shadowstats.com Interview: We're Going to Be in a New Recession in 2013
http://usawatchdog.com/ - John Williams of Shadowstats.com has long contended the Fed is really just using the weak economy to continue to prop up the banking system. Williams says, "If the Fed wasn't doing what it's doing . . . I'd presume you'd be on the road to a banking system collapse. The banking system is still in trouble." Williams warns the "open-ended" printing of $85 billion a month ". . . will be part of what will eventually become hyperinflation." And if there is no deal on the so-called "fiscal cliff," then Williams expects "heavy selling pressure on the U.S. dollar." Join Greg Hunter of USAWatchdog.com as he goes One-on-One with economist John Williams.
http://usawatchdog.com/ - John Williams of Shadowstats.com has long contended the Fed is really just using the weak economy to continue to prop up the banking system. Williams says, "If the Fed wasn't doing what it's doing . . . I'd presume you'd be on the road to a banking system collapse. The banking system is still in trouble." Williams warns the "open-ended" printing of $85 billion a month ". . . will be part of what will eventually become hyperinflation." And if there is no deal on the so-called "fiscal cliff," then Williams expects "heavy selling pressure on the U.S. dollar." Join Greg Hunter of USAWatchdog.com as he goes One-on-One with economist John Williams.
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Tuesday, October 2, 2012
Peter Schiff: USA Is Already In A Recession!
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Peter Schiff
Peter Schiff: We are Already in a Recession
Peter Schiff, Euro Pacific Capital, on why he believes the economy is already contracting, and what, if any, impact the 2012 elections will have on the economy.
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Wednesday, September 26, 2012
David Stockman: "Federal Reserve & central banks are fundamental threat to economic future!"
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David Stockman on Federal Reserve Arrogance and Monetary Mission Creep!
Welcome to Capital Account. Now that the Fed has announced QE3 and Japan announced QE 8, Brazil is threatening defensive measures and bringing talk of Currency wars back, according to multiple press reports. Brazil's finance minister coined the term 'Currency Wars' two years ago as governments battled to lower exchange rates to boost competiveness. We talk to David Stockman, former director of the Office for Management and Budget during the Reagan administration, about the malignant effects of Federal Reserve policy and the lack of market-set interest rates!
Our guest, David Stockman, author of "The Triumph of Politics," recently had some choice words Federal Reserve, stating:"The Fed (and the lunatics that run it) are telling the whole world untruths about the cost of money and the price of risk." We talk to him about monetary policy, taxes, sound money, and more.
Plus, the U.S. Senate panel probing JP Morgan's multibillion dollar 'Whale Trade' loss plans to unveil its findings to press regulators to tighten the Volcker Rule. We ask David Stockman if this would be enough to rein in too big to fail bank risk.
Also we launch our Facebook page today! Check it out at www.facebook.com/pages/Capital-Account. Lauren shows off the new page and discusses your comments in Viewer Feedback.
Welcome to Capital Account. Now that the Fed has announced QE3 and Japan announced QE 8, Brazil is threatening defensive measures and bringing talk of Currency wars back, according to multiple press reports. Brazil's finance minister coined the term 'Currency Wars' two years ago as governments battled to lower exchange rates to boost competiveness. We talk to David Stockman, former director of the Office for Management and Budget during the Reagan administration, about the malignant effects of Federal Reserve policy and the lack of market-set interest rates!
Our guest, David Stockman, author of "The Triumph of Politics," recently had some choice words Federal Reserve, stating:"The Fed (and the lunatics that run it) are telling the whole world untruths about the cost of money and the price of risk." We talk to him about monetary policy, taxes, sound money, and more.
Plus, the U.S. Senate panel probing JP Morgan's multibillion dollar 'Whale Trade' loss plans to unveil its findings to press regulators to tighten the Volcker Rule. We ask David Stockman if this would be enough to rein in too big to fail bank risk.
Also we launch our Facebook page today! Check it out at www.facebook.com/pages/Capital-Account. Lauren shows off the new page and discusses your comments in Viewer Feedback.
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Sunday, September 16, 2012
Peter Schiff: Fed Launches Operation Screw, Goes All-In on Quantitative Easing
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Peter Schiff
Operation Screw: The Fed Goes All-In on QE
The geniuses at the Federal Reserve have concocted a bold new plan to revive the U.S. economy -- print a bunch of money, loan it to Americans at super low interest rates so they can speculate on rising real estate prices, extract the appreciated equity and spend it on consumer goods. In other words, build an economy of real estate, by real estate, and for real estate. The only problem is we've been there and done that. The last time it almost destroyed the U.S.economy.
I guess almost isn't quite good enough for the Fed, so now it's determined to finish the job.
These actions will destroy Americans' savings and hurt people on fixed incomes. To protect yourself, I recommend a strategy of foreign equities, commodities, and gold and silver.
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Friday, August 31, 2012
John Williams: America is Bankrupt, Economic Collapse in 2014!
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John Williams
John Williams of Shadowstats.com Interview: The Next Crash Will Be A Lot Worse
http://usawatchdog.com/ - Anyone who thinks the U.S. is in recovery should stop listening to the mainstream media and listen to John Williams. He heads up Shadowstats.com, and is one of the few economists who crunches the numbers to give unvarnished true statistics.
Adjusted for real inflation of about 7%, Williams says, "GDP has plunged, and we have been bottom bouncing" ever since the financial crisis started. Williams says, "The next crash will be a lot worse (than 2008) because it will push us into the early stages of hyperinflation." He predicts this will happen "by the end of 2014" at the latest.
Long before 2014, Shadowstats.com thinks there is a good chance of "panic selling of the U.S. dollar," if the Federal Reserve starts another round of money printing (QE3) to save the system and the big banks.
No matter what Williams predicts, "There will eventually be a crisis to bring the system down as we know it. We're on the brink." According to Williams, "at some point, you will see a new currency in the U.S."
The founder of Shadowstats.com sat down for a one on one interview with Greg Hunter to talk about the mathematical certainty of a systemic collapse in the not-so-distant future.
http://usawatchdog.com/ - Anyone who thinks the U.S. is in recovery should stop listening to the mainstream media and listen to John Williams. He heads up Shadowstats.com, and is one of the few economists who crunches the numbers to give unvarnished true statistics.
Adjusted for real inflation of about 7%, Williams says, "GDP has plunged, and we have been bottom bouncing" ever since the financial crisis started. Williams says, "The next crash will be a lot worse (than 2008) because it will push us into the early stages of hyperinflation." He predicts this will happen "by the end of 2014" at the latest.
Long before 2014, Shadowstats.com thinks there is a good chance of "panic selling of the U.S. dollar," if the Federal Reserve starts another round of money printing (QE3) to save the system and the big banks.
No matter what Williams predicts, "There will eventually be a crisis to bring the system down as we know it. We're on the brink." According to Williams, "at some point, you will see a new currency in the U.S."
The founder of Shadowstats.com sat down for a one on one interview with Greg Hunter to talk about the mathematical certainty of a systemic collapse in the not-so-distant future.
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Sunday, August 19, 2012
Peter Schiff: Endless Fed QE, Paul Ryan's Hopeless Budget, Bond Bubble Bursting
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Peter Schiff
Endless QE, Ryan Budget All Hope No Change, Has the Bond Bubble Burst?
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Tuesday, July 31, 2012
Peter Schiff: America Heading Towards a Collapse Worse Than 2008!
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Peter Schiff
America Heading Towards a Collapse Worse Than 2008 AND Europe! Says Peter Schiff
According to CEO and Chief Global Strategist of Euro Pacific Capital Peter Schiff, the U.S. economy is heading for an economic crash that will make 2008 look like a walk in the park. Stimulus programs can delay this day of reckoning, but only for so long and only at the expense of making the eventual meltdown much, much worse.
Schiff, who famously warned investors about the housing and financial crisis in his 2007 book Crash Proof, says the Fed's palliative efforts during the housing meltdown have made the next crisis inevitable.
"We've got a much bigger collapse coming, and not just of the markets but of the economy," Schiff says in the attached clip. "It's like what you're seeing in Europe right now, only worse."
In this nightmare scenario detailed in The Real Crash: America's Coming Bankruptcy, the current economic pause is actually the beginning of a material slowdown or recession into year end. At that point, the Federal Reserve will unleash a third round of Quantitative Easing — weakening the dollar without jump-starting the economy. As a result of dollar weakness, import prices rise, pressing the margins of corporate America. Lower margins lead to heavy layoffs, sending millions of workers into unemployment during a time when they can least afford it. Banks fail, housing collapses, and taxes are raised in a futile effort to give the tapped-out government the capital to try yet more futile stimulus.
"That's when it really is going to get interesting, because that's when we hit our real fiscal cliff, when we're going to have to slash — and I mean slash — government spending," says Schiff.
Those cuts will not be at all unlike the draconian austerity measures in Greece, with programs like Social Security and Medicare being dramatically cut or possibly disappearing entirely. The easiest way to put it, is that everything you don't think could possibly happen in America will come to be.
"Alternatively, we can bail everybody out, pretend we can print our way out of a crisis, and, instead, we have runaway inflation, or hyper-inflation, which is going to be far worse than the collapse we would have if we did the right thing and just let everything implode," he offers.
So what should investors do to protect themselves? Schiff has three suggestions: 1 - Get Out of Treasuries 2 - Own the Right Stocks 3 - Buy Silver and Gold
Breakout with Jeff Macke
According to CEO and Chief Global Strategist of Euro Pacific Capital Peter Schiff, the U.S. economy is heading for an economic crash that will make 2008 look like a walk in the park. Stimulus programs can delay this day of reckoning, but only for so long and only at the expense of making the eventual meltdown much, much worse.
Schiff, who famously warned investors about the housing and financial crisis in his 2007 book Crash Proof, says the Fed's palliative efforts during the housing meltdown have made the next crisis inevitable.
"We've got a much bigger collapse coming, and not just of the markets but of the economy," Schiff says in the attached clip. "It's like what you're seeing in Europe right now, only worse."
In this nightmare scenario detailed in The Real Crash: America's Coming Bankruptcy, the current economic pause is actually the beginning of a material slowdown or recession into year end. At that point, the Federal Reserve will unleash a third round of Quantitative Easing — weakening the dollar without jump-starting the economy. As a result of dollar weakness, import prices rise, pressing the margins of corporate America. Lower margins lead to heavy layoffs, sending millions of workers into unemployment during a time when they can least afford it. Banks fail, housing collapses, and taxes are raised in a futile effort to give the tapped-out government the capital to try yet more futile stimulus.
"That's when it really is going to get interesting, because that's when we hit our real fiscal cliff, when we're going to have to slash — and I mean slash — government spending," says Schiff.
Those cuts will not be at all unlike the draconian austerity measures in Greece, with programs like Social Security and Medicare being dramatically cut or possibly disappearing entirely. The easiest way to put it, is that everything you don't think could possibly happen in America will come to be.
"Alternatively, we can bail everybody out, pretend we can print our way out of a crisis, and, instead, we have runaway inflation, or hyper-inflation, which is going to be far worse than the collapse we would have if we did the right thing and just let everything implode," he offers.
So what should investors do to protect themselves? Schiff has three suggestions: 1 - Get Out of Treasuries 2 - Own the Right Stocks 3 - Buy Silver and Gold
Breakout with Jeff Macke
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Thursday, July 26, 2012
Peter Schiff: Fed Must Fess Up and Level With the American Public
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Peter Schiff
Bernanke Must Fess Up and Level With the American Public: Schiff
According to Peter Schiff, president of Euro Pacific Capital, those of you looking to learn what's happening in the U.S. are better off paying attention to almost anything other than Fed Chairman Ben Bernanke's Congressional testimony. "You might be able to to trade off what he has to say but it doesn't have any bearing on what's actually happening," he states.
It would be ideal for Bernanke to start pulling the plug on the monetary stimulus we have to allow the economy to detoxify. We have serious structural problems exacerbated, if not directly caused by fiscal and monetary intrusions already. Comparing our economy to Keith Richards, cancer patients and other terminal cases, Schiff thinks it's long past time to "'fess up, level with the American public and tell them what needs to be done."
Comparing the economy to a heroin addict avoiding withdrawal, Schiff says the only remedy is going cold turkey. The pain of such a move would be brutal for many Americans, but for working taxpayers picking up the tab the relief would be immediate and welcomed. Sounding like a more Draconian version of Ronald Reagan or even Bill Clinton, Schiff thinks reducing benefits will get more people off the dole, drive prices lower and eventually result in a more healthy economy.
None of which you'll hear from Bernanke. The testimony of today and yesterday bring out the worst instincts in everyone involved. Bernanke will evade and the politicians will pander while groping for that one soundbite that will be perfect for an campaign ad. Speaking into microphones and in front of cameras on the Hill is the best way on earth to ensure nothing useful gets done.
"Everybody is resisting the needed reform because it's bad politics," shouts Schiff. Whatever you think of his solutions it's hard to disagree with that assessment.
Breakout with Jeff Macke
According to Peter Schiff, president of Euro Pacific Capital, those of you looking to learn what's happening in the U.S. are better off paying attention to almost anything other than Fed Chairman Ben Bernanke's Congressional testimony. "You might be able to to trade off what he has to say but it doesn't have any bearing on what's actually happening," he states.
It would be ideal for Bernanke to start pulling the plug on the monetary stimulus we have to allow the economy to detoxify. We have serious structural problems exacerbated, if not directly caused by fiscal and monetary intrusions already. Comparing our economy to Keith Richards, cancer patients and other terminal cases, Schiff thinks it's long past time to "'fess up, level with the American public and tell them what needs to be done."
Comparing the economy to a heroin addict avoiding withdrawal, Schiff says the only remedy is going cold turkey. The pain of such a move would be brutal for many Americans, but for working taxpayers picking up the tab the relief would be immediate and welcomed. Sounding like a more Draconian version of Ronald Reagan or even Bill Clinton, Schiff thinks reducing benefits will get more people off the dole, drive prices lower and eventually result in a more healthy economy.
None of which you'll hear from Bernanke. The testimony of today and yesterday bring out the worst instincts in everyone involved. Bernanke will evade and the politicians will pander while groping for that one soundbite that will be perfect for an campaign ad. Speaking into microphones and in front of cameras on the Hill is the best way on earth to ensure nothing useful gets done.
"Everybody is resisting the needed reform because it's bad politics," shouts Schiff. Whatever you think of his solutions it's hard to disagree with that assessment.
Breakout with Jeff Macke
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Tuesday, July 10, 2012
Peter Schiff: USA Jobs, The Real Fiscal Cliff, Obamanomics
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USA Jobs, The Real Fiscal Cliff, Obamanomics The Schiff Report - 7/9/2012
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Tuesday, July 3, 2012
Jim Rogers, War, Financial Mafia, LIBOR, Central Banks, JPMorgan!
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Jim Rogers, War and the Financial Mafia - LIBOR, Central Banks and JP Morgan!
Welcome to Capital Account. US manufacturing activity contracts for the first time in 3 years...the weak ISM data came as a shock to economists reportedly. Then orders placed with U.S. factories rose in May for the first time in three months, according to other data. We'll talk about where figures show global confidence, crises, and slowdowns are headed with famed investor Jim Rogers.
Also...Blackrock's Vice Chairman Byron Wien says he spoke to the smartest man in Europe, and what he had to say terrified him. He said, "basically, that massive amounts of debt will bring the decline of Western Civilization, but that in the meantime, before that happens, policy makers would pull every trick they could in order to stave off a catastrophic event."
Why do you have to be the un-named smartest man as christened by a Blackstone bigwig for that to hold weight? Just watch a lot of smart men and women who break this down openly any given day on Capital Account. Today, commodities guru Jim Rogers will do the honors.
And it's one, two, three strikes you're out - Barclays top three executives resign in the wake of the LIBOR manipulation scandal. Chairman. CEO. COO. Why haven't we seen this kind of fallout at big banks in the US from any settlements and scandals? We'll muse over it as what do you know - JP Morgan finds itself under investigation for manipulation of electricity markets.
Welcome to Capital Account. US manufacturing activity contracts for the first time in 3 years...the weak ISM data came as a shock to economists reportedly. Then orders placed with U.S. factories rose in May for the first time in three months, according to other data. We'll talk about where figures show global confidence, crises, and slowdowns are headed with famed investor Jim Rogers.
Also...Blackrock's Vice Chairman Byron Wien says he spoke to the smartest man in Europe, and what he had to say terrified him. He said, "basically, that massive amounts of debt will bring the decline of Western Civilization, but that in the meantime, before that happens, policy makers would pull every trick they could in order to stave off a catastrophic event."
Why do you have to be the un-named smartest man as christened by a Blackstone bigwig for that to hold weight? Just watch a lot of smart men and women who break this down openly any given day on Capital Account. Today, commodities guru Jim Rogers will do the honors.
And it's one, two, three strikes you're out - Barclays top three executives resign in the wake of the LIBOR manipulation scandal. Chairman. CEO. COO. Why haven't we seen this kind of fallout at big banks in the US from any settlements and scandals? We'll muse over it as what do you know - JP Morgan finds itself under investigation for manipulation of electricity markets.
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Tuesday, March 15, 2011
U.S. Treasury Department Has Financial Markets Bunker (Video) *Monitors global markets*
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U.S. Treasury Markets Room
U.S. Treasury Department Has Markets Bunker
U.S. Treasury Markets Room In the basement of the Treasury Department in Washington, D.C. is the Markets Room where a carpentry shop formerly was. This secure, but not classified, basement bunker monitors global financial markets around the clock and issues market intelligence reports, including reports to the Treasury Secretary and the President of the United States. The Markets Room has existed in various, simpler forms since the early 1960s, but this latest, comprehensive version was created by Treasury Secretary Henry Paulson in 2007 and was operational during the 2008 USA Financial Crisis
Michael Pedroni Michael Pedroni is the Director of the Markets Room and the team of financial analysts. "We are always looking for vulnerabilities in the market, for trends. If you are thinking about what kind of research, you always want to know, 'What's the trade?'. For us, we need to know, we need to answer the question, 'Why is this good for policy?' and 'Why is this good for a policymaker to know?'. A wide range of assets classes are monitored, including bonds, currencies, and equities. The staff also stays in touch with "market players", Wall Street investment houses, to get a feel for what is going on in real-time.
Japanese Earthquake In a crisis such as the catastrophic Japanese earthquake on March 11, 2011 and resulting drop in equity markets, "We are looking to see where the contagion is, where the spillover is, where the ripple effects might be."
CNBC "NORAD of American Finance" Going inside the secure basement bunker where the US government monitors global finance, with CNBC's Eamon Javers.
Michael Pedroni Michael Pedroni is the Director of the Markets Room and the team of financial analysts. "We are always looking for vulnerabilities in the market, for trends. If you are thinking about what kind of research, you always want to know, 'What's the trade?'. For us, we need to know, we need to answer the question, 'Why is this good for policy?' and 'Why is this good for a policymaker to know?'. A wide range of assets classes are monitored, including bonds, currencies, and equities. The staff also stays in touch with "market players", Wall Street investment houses, to get a feel for what is going on in real-time.
Japanese Earthquake In a crisis such as the catastrophic Japanese earthquake on March 11, 2011 and resulting drop in equity markets, "We are looking to see where the contagion is, where the spillover is, where the ripple effects might be."
CNBC "NORAD of American Finance" Going inside the secure basement bunker where the US government monitors global finance, with CNBC's Eamon Javers.
U.S. Treasury Markets Room
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