June 2014

Listeners’ Questions, Peter’s Answers

Listeners’ Questions, Peter’s Answers Audio – June 26, 2014 [youtube class=”center” id=”0UEetyfSzbg”] [separator style_type=”single” top_margin=”5″ bottom_margin=”5″ sep_color=”” icon=”fa-play” width=”” class=”” id=””] Paul in Fayatteville, Arkansas What does “cheap money” mean? David in Brentwood, TN I have $200,000 worth of gold and silver bullion sitting in an IRA and a third party depository. I have seen […]

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Draghi Hits Savers To Salvage Faux Recovery

Draghi Hits Savers To Salvage Faux Recovery

Posted by Peter Schiff on 06/18/2014 at 2:20 PM On June 5th, Mario Draghi, President of the European Central Bank (ECB), announced a package of measures, including a policy of negative interest rates, aimed at encouraging or even forcing Eurozone banks to increase their lending to businesses.Although previously imposed by Swiss banks on their depositors, this will be the first

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Irwin Schiff

Irwin Schiff’s Motion to the Supreme Court

Posted by Peter Schiff on 06/16/2014 at 1:00 PM My father makes a powerful case that the IRS has been collecting the income tax in violation of law, multiple Supreme Court decisions, and the U.S. Constitution.    At the very least his efforts provide compelling evidence of the sincerity with which he holds his beliefs and that his conduct was

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Debt is No Salvation

Debt is No Salvation

Posted by Peter Schiff on 06/13/2014 at 6:40 AM Thus far 2014 has been a fertile year for really stupid economic ideas. But of all the half-baked doozies that have come down the pike (the perils of “lowflation,” Thomas Piketty’s claims about capitalism creating poverty, and President Obama’s “pay as you earn” solution to student debt), an idea hatched last

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Statism

Is Inequality Caused by Capitalism or Statism?

The French economist Thomas Piketty has achieved worldwide fame by promoting a thesis that capitalism is the cause of growing economic inequality. Unfortunately, he is partially right. However, the important distinction missed by Piketty and all of his supporters is that state capitalism, not free market capitalism, has reigned supreme in recent decades in the world’s

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Snow Job

Snow Job

Posted by Peter Schiff on 06/06/2014 at 11:08 AM Economists, investment analysts, and politicians have spent much of 2014 bemoaning the terrible economic effects of the winter of 2014. The cold and snow have been continuously blamed for the lackluster job market, disappointing retail sales, tepid business investment and, most notably, much slower than expected GDP growth. Given how optimistic

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Bond Trap

The Bond Trap

Posted by Peter Schiff on 06/23/2014 at 8:13 AM The American financial establishment has an incredible ability to celebrate the inconsequential while ignoring the vital. Last week, while the Wall Street Journal pondered how the Fed may set interest rates three to four years in the future (an exercise that David Stockman rightly compared to debating how many angels could dance on

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