A currency war is different from any other kind of conventional war in that the object is to kill oneself.
Peter Schiff is an American businessman, author and financial commentator. Schiff is CEO and chief global strategist of Euro Pacific Capital Inc., a broker-dealer based in Westport, Connecticut and CEO of Euro Pacific Precious Metals, LLC, a gold and silver dealer based in New York City. Schiff frequently appears as a guest on CNBC, Fox News, and Bloomberg Television and is often quoted in major financial publications. In 2010 Schiff ran as a candidate in the Republican primary for the United States Senate seat from Connecticut. He has authored four books, which have become best sellers. Among them, "Crash Proof 2.0: how to harness the economic collapse." Truman Factor features Schiff's articles in English and in Spanish.
When the reign of “king dollar” finally comes to a belated end, let’s hope all the gold we allegedly have stored in Fort Knox is actually there.
Stockman’s NYT piece offers a litany of objectively dismal facts and cogent explanations of how we got here.
The travails of the pound is far more instructive to those pondering the fate of the U.S. currency.
The whole situation mirrors the late 1960s, during a period that led up to the “Nixon Shock.”
A failure to raise the debt ceiling is not a commitment to renege on obligations. It is simply a decision to stop borrowing.
We are now – and will remain – a debt-fueled economy for as long as the rest of the world permits this to continue.
Neither party appears willing to risk votes in order to curb the profligate and economically suicidal growth in out of control entitlement expenditures.
While the “Peter Schiff was Wrong” campaign was a great marketing success for Shedlock, it was a disaster for any investors taken in by the rhetoric.
Reports have recently been released that throw particular light on the degree to which central banks around the world are accumulating gold.
Both Congress and the President readily admit that without an increase in the debt ceiling, the government will default on its obligations.
The elevation of taxpaying into an act of patriotism seems a stretch for most Americans.
A resolution of the euro problem likely will signal a weaker U.S. dollar and higher interest rates.
It is well known that some countries keep considerable portions of their gold reserves with the U.S. Fed and with the Bank of England. But the details are lacking.
Although the Fed is directing its fire towards the housing market, the needle they are actually hoping to move is not home prices, but the unemployment rate.
The biggest winners thus far that may have resulted from the newly communicated intentions from central banks are not the euro or the broad stock markets, but rather gold and gold-related investments.
In the past, the German Constitutional Court has not shown itself to be a political pushover.
Under a gold standard, the free market determines money supply and interest rates.
The current high prices of precious metals, in the face of possibly deep economic recession, indicate that the prospect of a sudden and catastrophic financial collapse is very real.
Ryan never considers how rising interest costs on the many trillions of dollars of outstanding government debt holdthe potential to completely upend budget projections.