In this video Peter Schiff discusses the economy and the misleading information we are being fed.
The perceived health of our economy and potential warning signs have a lot to do with the spike in precious metals prices. Precious Metal investments are often viewed as a safe harbor as other investments like the stock market gets more volatile and warning bells are ringing.
If you disagree with Peter Schiff on his thoughts about Robert Kraft or Kraft-Heinz and drugs at about the 21 minute mark don’t tune away. By minute 26 he returns to the economic news and his analysis. The bad news coming out bodes well for precious metals investors.
Do you ever feel like you are like Alice in Wonderland? The government economists and politicians keep saying the economy is great. Jobs are up – every thing is hunky-dory. But that seems to contradict things that I am seeing with my own eyes every day. The local mall is half empty. There are some who say the reason is Amazon. But why would Amazon be the reason for the local restaurants in the mall going out of business and the space they occupied still being vacant after a year? Could it be that after after all of their expenses of living – housing, food, etc people just don’t have as much money as they had in the past to go out to restaurants?
John Williams’ http://www.shadowstats.com/ does a great job of revealing the truth behind some of the government statistics being released. For instance he talks about the changing “market basket” of goods use to calculate the CPI. In the government’s eye if a consumer changes from steak to hamburger it is just a change in consumer preferences, not an indication that steak has become to expensive. To the government its still a market basket that they can use to calculate the CPI and demonstrate inflation really isn’t that bad.
Peter Schiff is a commentator who also likes to look behind the curtain. He explains in this podcast why what politicians and government statistics are telling us is good maybe actually bad.
Believe your eyes and own thoughts. Don’t delegate all of your beliefs to others who may not have your interests in mind but their own.
But above all be prepare. Diversify your investments away from paper assets and third party risk and put at least part of your portfolio in precious metals. I prefer to have at least part of my precious metals investment in physical bullion stored in a segregated account store in a secure facility. But investors’ needs vary so make sure you consult your own financial adviser. Plus do your own due diligence and make sure whatever you decide is right for you.
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