Peter Schiff Tells CNBC: Get Ready for a Gold Moonshot!

launch rocket verticalPeter Schiff gives CNBC a bit more than they bargained for in this interview in which CNBCS leads off with What is Wrong With Gold?
Schiff tells CNBC viewers:
As soon as most Wall St traders come to terms with how wrong they are about the true state of the US economy and what the Fed is going to do, they will be rushing back to gold…Imagine what would happen if the Fed tried to sell the $4 trillion in mortgage bonds it holds? We are headed right back into recession!…The Fed is going to come back with an EVEN BIGGER QE!
At some point, gold is going to go straight up, it will make a moonshot.  By the time the crowd figures it out, its going to be very expensive to buy gold!
Peter Schiff’s full MUST WATCH interview on QE, taper, bank collapse, and gold is below:

1 oz Gold OPM Bars As Low As $14.99 Over Spot at SDBullion!

1 oz Silver Buffalo As Low As $0.79 Over Spot at SDBullion!

 


Comments

  1. Schiff makes total sense, so he will be entirely dismissed by the idiots and buffoons on the BlowHorn [CNBC]. They will never get it when it comes to gold.

    • ….oh…..they’re gonna get it.
      Peter Schiff ROCKS!

    • Yes, he does, and he has a pretty darned good record of telling it like it is and then having events prove the worth of his comments.  The droids on CNBC were all beating the drum to buy stocks and houses right before they both crashed.  Their market prediction accuracy is nil.  Maybe that is why they dislike Schiff?

  2. I wish Peter wouldn’t be so coy, and just tell us how he really feels!  LOL

  3. Fuckin’ ‘eh!

  4. Prepare for War. Yellen will blame Europe as The ECB will fall first IMO. War is inevitable in a world fire of financial instability. Yellen knows this in advance. The Fed’s Choice is to save the dollar or save the banks and neither will work. Enter stage right, CHINA!

    • You won’t see the US in another war anytime soon, military is close to telling Obama to shove it the way it is. My nephew said all they do in Afghanistan is guard CIA poppy fields

  5. ECB’s 60% gold backing of currency will see them alright. 
     
    Schiff – ‘once the price breaks out over resistance’ – so we’re still talking about paper gold crimex ‘prices’? Yawn……..

  6. Yet, the stock market is soaring higher (Dow 16,000) once again and might be making new highs in short order. The bond market is also trading just fine with the 10 year at 2.70%, and the dollar trading firmly over the 80 level.
    So despite the taper of $20 billion, markets seems to be trading under control.   What is Peter and the stock market bears going to say if the Dow breaks into new all-time highs?  Not much is my bet.

    • What is Peter and the stock market bears going to say if the Dow break into new all-time highs?
      They will still assert PM’s are going to the moon.
      And they will be correct.
      However – the timing of said moonshot is still unknown.
       

    • zman … “What is Peter and the stock market bears going to say if the Dow breaks into new all-time highs?”

      Well, they won’t say what ought to be a central topic of discussion, which is … Exchange Stabilization Fund.

    • IMO if QE ramps back up you WILL SEE the DOW and the stock market increase. Because that’s where the inflationary cash is going @Zman. Aren’t you a student of monetary history? You chatter an aweful lot about markets, and treasuries, yet you can’t seem to connect the dots. When Germany inflated its currency it’s version of the DOW increased EXPONENTIALLY! To mind boggling numbers. 
      So what happens when the stocks are up due to investment, yet retail sales numbers continue to dissapoint? It reflects an artificial growth, and all of that value is vaporizing in waste. You honestly cannot be that devoid of vision not to ask yourself how stock values increase when sales are so poor, chains are closing in record numbers? 
      LookI’m the last one to call anyone a paid disinformant, but if you persist STILL, in light of MARKET FACTS, then your a lemming, void of rational debate.

    • @Shamus001
       
      “When Germany inflated its currency it’s version of the DOW increased EXPONENTIALLY! To mind boggling numbers. “
       
      Exactly right, Shamus.  The very same thing happened to the Zimbabwe stock market in 2008.  It ZOOMED to historically impressive levels just before it went arse over tea-kettle into the crapper… never to be seen again.  Not saying that this will happen in the US anytime soon but… it IS possible.  The moon shot in the stock market seems to be a precursor to hyper-inflation.  It does not end well but it does end.
       

  7. The QE has never made it into the real economy. Its buying treasury bonds an it balance through fractional reserve banking.  The mega banks are rich but there not loaning to the American people. Over 10 trillion dollars spent an the economy if flat an unemployment high. Its is very obvious to me they actually don’t want a good economy. The stock market is going to fall an take out the comex this time. An the government will come to the rescue. It could of been there plan all along to dry up the pms all around the world. With there artificial prices for so long. There plan is working since the comex is running on just fumes an most all is settled in cash. And most all gold an silver is gone out of the country. Only thing worth taking is the American peoples pms now. So the only conclusion to come out of this is this. There next plan is to collapse the stock market an the comex will default with it. an then the government will come in an freeze prices. Theres no product to sell at such low artificial prices. An call in all the gold and silver too at there price. The tip here is on that is. Since huge amounts of pms leaving the usa. Somebody knows much more then we do. And they did it without a huge price rise means the governments were in on it. My guess by the end of march this year this will happen

    • Dang … “The mega banks are rich but there not loaning to the American people.”

      “Rich”? In what, exactly? A load of hot air, is all. The whole confabulation is credit-leverage horse-crap from the Treasury and Congress of the private municipal DC city-state entity only … called … the United States.

      Title 18, United States Code, Section 8 states:
      “Obligation or other security of the United States defined
      The term “obligation or other security of the United States” includes all bonds certificates of indebtedness, national bank currency, Federal Reserve notes, Federal Reserve bank notes, coupons, United States notes, Treasury notes, gold certificates, silver certificates, fractional notes, certificates of deposit, bills, checks, or drafts for money, drawn by or upon authorized officers of the United States, stamps and other representatives of value, of whatever denomination, issued under any Act of Congress, and canceled United States stamps.”

      Got it? It’s … ALL … merely “representatives of value“. In plain language, that means … PRETENDED VALUE. If you want to actually believe that’s what constitutes “Rich”, I suggest you re-evaluate your bases of construction, because it’s so much sand in a rising water column. That’s what you lament as inaccessible for borrowing? Count your blessings!

    • @PatFields Outstanding response Pat! ….The very rationale that excuses countries of their debts repeatedly throughout history…. Especially when the paper is PURELY FIAT. What better way to scoop up real assets on your way out of the card game?

    • “The QE has never made it into the real economy. Its buying treasury bonds an it balance through fractional reserve banking.”
       
      Really?  Once those bonds are sold to the banks, THE US GOV SPENDS THE MONEY from them into the economy, so yes, that money IS going into the economy, just not directly.

    • Ed_B … “THE US GOV SPENDS THE MONEY”

      True that, Ed. Ever notice the conspicuously elevated lifestyles of government ‘workers’?

      As USC, 18.8 illustrates above, government issues BOTH the Bonds AND the Notes … in fact everything of any ‘financial’ description, down to its very definition of ‘value’.

      Only by BELIEVING in, or subjugation to, those phony ‘values’, are we ‘trapped’ by our own perceptions … captivated by chains and manacles of our own delusional fashion.

  8. That was recorded 3 days ago, I wonder what the BobbleHeads are thinking now because of what’s happening today with Gold. LMAO
    @Ranger Yellen was saying all day today that she and the Feds are doing what Congress want’s them to do. Lol Now they will be throwing the blame on the Congress for all the mistakes. LMAO Keep Stacking

  9. Hey Pat Fields The mega banks are way rich beyond your imagination could ever be. Over 10 trillion dollars of QE injections an we all know be very lucky if 10% of that actually made it out to the actual economy. The mega bankers do not loan there money out to the American people. That’s not were the money is made at. They play the derivatives market back an forth from there banks an make trillions of dollars. These banks are so big actually I could believe that they let the federal government default an the banks become the government.

  10. Then the matches make their ways to the banks… Burning all that pretty paper. What your envisioning is called a Coup. That, I still believe would be fought by every man with a backbone in this country. And if these men all died, there would be no productive engine in this country. Blue collar workers are the real physical engine here, not the spineless guy at Big 5 showing you shoes. Retail only peddles the wares, it doesn’t manufacture them. If that doesn’t convince you then let me add that ranchers and farmers are of a metal that doesn’t take sh*t either. And without crops and livestock, the nation would be completely decimated, as would many hungry countries depending on our food exports.

  11. I try new transslator. DA.  heer goes.
     
    I say, Peter is rather forthright, his analysis is spot on. The media shills look like deer caught in the headlights. Rather.

  12. This is not a real move to the upside, this is pure speculation. There is nothing real in the numbers. I think I will just ignore everything and just keep on stacking. The only real thing is that which I hold in my hand.
     
    Gold up, gold down, who gives a crap. valued in what, paper with a number on it, that is attached to a bunch of states that pretend to be a country?
     
    I think you guys should all start smoking weed, makes more sense, and at least then instead of acting like stoic cows your general behavior will be as such also as you chew on the weed.
     
    The situation is getting more absurd by the day. Why exactly is gold going up? I have been searching and there is no “fundamental” reason. If there was a reason, I be way more happy than I am now, Gold price going up for no reason at all is scary stuff. It means that there are speculators betting on the price of the fall, as they pump the price up, bad for guys like me who are waiting for the real default of the dollar, not this pretend crap. I need and want to stack cheaply, not expensively.
     
    I still keep my bottom in on gold at $1215, at this point I would say the top is around $1280. But watch for the typical rug pull as the shorts sell their longs.

  13. waitingforsilver  I think it’s time to unveil the new name of the former USA.  With 70% people here  on some form of prescribed  psychoactive drugs; with 110,000,000 Rx’s for pain meds written in a year; with more and more states making the powerful variants of pot legal, we really need a new name. 
      Pharmaceutical  Nation or the United States of Marijuana get my vote. 
    From middle school students to the elderly, we have become a nation of Zombies.
      I crap you not. 
    And that does not include alcohol and its numbing effects. 
    About the only place I can find intelligent discourse is here in the alternative news universe.

    There is no surprise that we have confusion over the definition of ‘rich’  A billionaire may define rich because he has a 10 figure bank account.  I call him a target rich environment for any central bank or government who needs to pillage and rape to make ends meet.
    If you have a bank balance that consists of digital 1 and 0′s; if you have a stock account of digital 1 and 0; if you have a retirement account that is a series of 1 and 0, then that entire wealth is an illusion. Calling yourself rich by way of a paper account is ‘rich’ LOL
    We are seeing systematic depletion and theft of  DIGIFIAT.  It’s taking nothing more than some low level drone at a bank telling you that you cannot access of transfer your funds, such as what UKsilverfox noted with his Barklays account. Barklay’s is a bank on death watch.
    I proposed that the only people who can call themselves wealthy, even if it is wealth that is aborning, are those with tangible assets such as productive property, gold and silver.   The problem with property is that it has tremendous counterparty risk, even more than DIGIFIAT  You can’t remove it from harm’s way as easily as gold and silver. 
    Jim Grant made a very astute comment yesterday as Bitcoin’s banks are being systematically shut down.  He said that gold is the original bitcoin.  It can be divided into tiny pieces and spends like—well, it spends like gold.  Maybe not in the western world but 4 billion people recognize gold as real wealth  2.6 billion Chinese and East Indians can’t all be wrong.

    PS  Did anyone hear the conflicting statements of JPM about Bitcoin?  A week ago JPM was talking about creating a bitcoin-like platform but yesterday they were roundly comdeming BTC

    • @AGXIIK
       
      “There is no surprise that we have confusion over the definition of ‘rich’”
       
      I call myself rich because I am.  I have a wonderful wife, son, daughter, and 2 grand kids… all healthy, happy, and productive.  If I had nothing else, I would still be “rich”.  :-)
       
      “And that does not include alcohol and its numbing effects.”
       
      Thanks for bringing that up… excuse me whilst I fetch meself a wee dram… SLURPP!  Ahhh… that’s better.  ;-)
       
      “Barklay’s is a bank on death watch.”
       
      Perhaps they should merge with Deutsche Bank?  Like two drunks who cannot stand alone, they could lean on each other and, hopefully, remain vertical.
       
      “The problem with property is that it has tremendous counterparty risk, even more than DIGIFIAT  You can’t remove it from harm’s way as easily as gold and silver.”
       
      No, you can’t.  But then, you DO have to live somewhere and, hopefully, it will be a place where there is water and food can be grown.
       
      “Maybe not in the western world but 4 billion people recognize gold as real wealth  2.6 billion Chinese and East Indians can’t all be wrong.”
       
      They used to say that, “50 million Frenchmen can’t be wrong”.  But, the French being the French have disproved this assertion via electing a socialist president to fix the problem of too much socialism.  X-/
       
      The cool thing about Asians’ love for PMs is that they constitute over half of the planetary population, so if buying PMs is a vote for sound money, sound money is winning handily.  :-)
       

Speak Your Mind