Schiff on Dismal Jobs Numbers and Gold

His Youtube channel SchiffReport is worth following. Check out his new book also when you get the chance - "The Real Crash."  - It's getting outstanding reviews thus far. 

"The Gold Market had a sharp reversal...gold stocks also surged, HUI up almost 7 percent on the day with the DOW down 2 percent...the mining stocks were swimming against the overall stock market."

"To me, some traders are starting to realize that the dollar is not the safe haven it used to be...more people are starting to come to terms that we're in trouble, too."

Keep an eye on the national debt, folks. We're getting close to that ceiling. Greece is still center stage, but when the United States, the main act, comes front and center, that is really when gold will take off.

Peter Schiff's New Book "The Real Crash" to be Released Tuesday

"The Real Crash - America's Coming Bankruptcy" by Peter Schiff will be released on Tuesday, May 22.
 
I've been following Schiff for quite some time now. He is most well-known as the guy who predicted the 2008 housing crash in the popular YouTube video "Peter Schiff was right." However he deserves to be known by the public for more than that prediction - in my opinion he is one of the best economists out there today.

Schiff has been warning Americans of the coming crash for a while now - "Schiff demonstrates how the infusion of billions of dollars of stimulus money has only dug a deeper hole: the United States government simply spends too much and does not collect enough money to pay its debts, and in the end, Americans from all walks of life will face a crushing consequence."

The media and the public is always chasing yesterday's news, unfortunately. They don't report on what's really important and what we really need to know - that the US is 16 trillion+ in debt and cannot pay its bills.

We are set to hit the debt-ceiling again later this year, currently around August. Of course of politicians will wait until the last minute to reach some sort of agreement. You can bet that it won't be pretty.

Schiff says that we need to reverse course immediately and come to the reality that we cannot keep running these budget deficits, running up the debt and keep printing money... we cannot keep thinking we can live the same lifestyle we have lived.

There are serious times ahead and everyone needs to get informed ASAP to protect yourself and your family from the potential financial crash that Schiff is warning about. 

Stay tuned for a review of the book coming next month.