Interview SummariesPeter Schiff Summary:
- Peter Schiff outlines the latest Greek exit story; officials rejected the EU bailout this week.
- Only two weeks remain until the existing bailout program expires.
- The impasse exposes the debt-laden nation to default.
- Ironically, the weakest nation in the EU was once the textbook example of currency stability via the silver drachma.
- Separation from the EU could induce intense economic / sociological dislocations.
- The moral hazard resulting from caving to demands for endless bailouts is intense facilitating a bottomless pit, devouring capital in the heart of the EU.
- Eventually Greece could emerge as a more sound and vibrant economy.
- ECB ministers are insuring that the economic epidemic is contained, shielding the EU from a systemic infection of over $25 trillion dollars in euro-currency sensitive derivatives-exposure.
- Peter Schiff makes the bold claim that the US is as insolvent as Greece.
- Fed officials will be compelled to restart QE operations indefinitely to forestall the purportedly imminent benchmark rate hike.
- As a result, the working and middle classes will bear the brunt of the economic burden, vis-à-vis unnecessarily inflated prices for homes, groceries and related expenses.
- Peter expects gold to outperform the equities indexes in 2015, as investors accumulate metals amid worsening domestic unemployment.
- In particular, gold and silver mining companies represent solid values relative to shares in competing sectors.Arch Craford Summary:
Arch Crawford says years that end in 5, i.e. 2015 have typically coincided with the best equities market performances.
- The working group on markets is coordinating the markets with the Fed, US Treasury and key investment banks.
- Arch remains a long-term gold bull, underscoring the importance for every household to maintain a gold and silver portfolio-insurance plan.
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