The Peter Schiff Show Podcast

Wall Street spared blizzard only to be buried in bad earnings and bad economic news

December durable goods down 3.4%; expected to come in at +.7

Consumer confidence up to 102.9; contrarian indicator

Last time consumers were this confident was in the middle of 2007

Number will collapse when reality has a violent confrontation with perception

P&G earnings down 31%

Caterpillar warned

Microsoft stock down 10% today

UPS announced they overestimated holiday sales

Businesses geared up for a recovery in late 2013 that was not going to happen

Layoffs coming in 2015

This may give the Fed an excuse to delay rate increase

How can a strong dollar be good for America but a weak euro be good for Europe?

* The President is taking credit for an economic recovery that is a bubble created by the Fed

* Obama voters' salaries are much lower now than when he was elected

* We have fewer full-time jobs during Obama presidency

* Obama is offering freebies to the middle class, promising to tax the "wealthy"

* Getting money that you didn't earn is "fair"

* Higher taxes on earned money is "fair"

* Capitalism built the middle class

* The Government has destroyed the middle class

* Obama actually claimed that he "reduced" the national debt


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* Big action from the Central Banks this week

* Bank of Canada lowered rates from 1% to .75%

* The ECB announced the launch of first QE program

* The Euro plunged against gold

* Central Banks' goal is to raise the level of inflation to guard against falling prices

* Falling prices accelerate economic activity

* Regulations and taxes slow down economies

* QE in Europe lets the politicians escape the consequences of regulations and taxes

* QE will send European money abroad

* Inflation is an obstacle to economic growth


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The President is taking credit for an economic recovery that is a bubble created by the Fed

Obama voters' salaries are much lower now than when he was elected

We have fewer full-time jobs during Obama presidency

Obama is offering freebies to the middle class, promising to tax the "wealthy"

Getting money that you didn't earn is "fair"

Higher taxes on earned money is "fair"

Capitalism built the middle class

The Government has destroyed the middle class

Obama actually claimed that he "reduced" the national debt

Big action from the Central Banks this week

Bank of Canada lowered rates from 1% to .75%

The ECB announced the launch of first QE program

The Euro plunged against gold

Central Banks' goal is to raise the level of inflation to guard against falling prices

Falling prices accelerate economic activity

Regulations and taxes slow down economies

QE in Europe lets the politicians escape the consequences of regulations and taxes

QE will send European money abroad

Inflation is an obstacle to economic growth

* Biggest 7-day surge in Gold prices since 2011

* U.S. GDP will be lower than in Canada this year

* Canadian gold production will rise in 2015

* Gold is rising against most currencies except the Swiss Franc

* The IMF still believes the U.S. economy is recovering

* Outlook for gold in Australia is also positive

* The Yuan will probably be the next peg to go, allowing it to rise against the dollar

* The American workforce is being rewarded for incurring large debt to engage in unproductive careers


Our Sponsors:
* Check out Fast Growing Trees and use my code GOLD for a great deal: https://www.fast-growing-trees.com
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Biggest 7-day surge in Gold prices since 2011

U.S. GDP will be lower than in Canada this year

Canadian gold production will rise in 2015

Gold is rising against most currencies except the Swiss Franc

The IMF still believes the U.S. economy is recovering

Outlook for gold in Australia is also positive

The Yuan will probably be the next peg to go, allowing it to rise against the dollar

The American workforce is being rewarded for incurring large debt to engage in unproductive careers

* Thursday, January 15, will be remembered as the day Switzerland abandoned its peg to the Euro

* The Swiss defended their policy to peg to the Euro, but suddenly reversed, limiting their losses

* They admitted they were wrong

* Although the Swiss stock market went down in their currency, it was up in every other currency

* Gold is up against everything except the Swiss franc

* The news in the Swiss market will be a tremor compared to the earthquake if the Chinese abandon their peg both to the Hong Kong Dollar and the Yuan

* America will win the currency war to the detriment of the American people


Our Sponsors:
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Thursday, January 15, will be remembered as the day Switzerland abandoned its peg to the Euro

The Swiss defended their policy to peg to the Euro, but suddenly reversed, limiting their losses

They admitted they were wrong

Although the Swiss stock market went down in their currency, it was up in every other currency

Gold is up against everything except the Swiss franc

The news in the Swiss market will be a tremor compared to the earthquake if the Chinese abandon their peg both to the Hong Kong Dollar and the Yuan

America will win the currency war to the detriment of the American people

* The Swiss people have given up the inflation ghost to win the currency war

* Media reports negative on the news: "silly decision"

* Oil down against the Swiss Franc

* Swiss stocks up in U.S. dollars

* Wall Street expects Eurozone QE, but without Swiss, QE might be less likely

* Gold up against other currencies

* Franc surging in value against the dollar

* This move may signal economic reform

* Unfortunately Janet Yellen is not going to get this memo

* Volatility from Swiss move is nothing compared to consequences of a U.S. QE 4

* This move is bearish for the U.S. market

* Buckle up, it's going to be a bumpy ride


Our Sponsors:
* Check out Fast Growing Trees and use my code GOLD for a great deal: https://www.fast-growing-trees.com
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