Once the dollar begins to collapse beneath the weight of all this new deficit spending, accumulation of contingency liabilities and the socialization of our economy, commodity prices and interest rates will head skyward.
Peter SchiffThe real story of Detroit [...] can be summed up in seven words. Private enterprise built it, government destroyed it.
Peter SchiffOf course if you happen to time the market really well, you can make more money with some of these smaller companies, but for someone with no exposure I wouldn't want to take the risk that they timed it wrong.
Peter SchiffA federal bailout would spare California from having to make spending cuts needed to bring its budget into balance. The matter has become urgent since California voters rejected several tax-hiking ballot initiatives. Rather than taking the vote as a signal to dramatically curtail spending, the state turned to the feds. If they get a free pass, the politicians can avoid fixing any of their past mistakes or preparing California for the future.
Peter SchiffMiners produce the bullion. If there is going to be more demand for gold from investors and central banks, where is the gold going to come from? They have to dig it out of the ground and sell it. As the price of gold goes higher, their profit margins increase. So if you are very bullish like I am and think there is going to be a big increase in gold, it's a huge opportunity for miners.
Peter Schiff