that equals out so how healthy is the recovery that's the real question earlier i sat down with peter schiff c.e.o. of euro pacific capital peter is bearish on the u.s. economy and the effects of fed policy and i first asked him if he could give me his take on the recent g.d.p. numbers here's what he had to say. well first of all the the plus four percent that was just released today is a politically number and is very likely to be revised downward maybe even significantly so in the months ahead so i wouldn't jump to any conclusions based on the first look because historically or at least the past several years these numbers are almost always revised downward. but even if you accept the four percent number for now it still shows that the u.s. economy barely grew in the first half of two thousand and fourteen total growth is just shy of one percent annualized which is most last than the three percent or so that people were looking for at the end of two thousand and thirteen the very beginning of two thousand and fourteen. and i think those people who are drawing a false sense of comfort right

today we bring you peter schiff h.w. brands david brin and more but first here is steve forbes discussing solutions to health care and poverty. [applause] >> ladies and gentlemen the author how capitalism will save us to discuss with harris rosen how capitalism today is saving us, steve forbes. [applause] >> thank you very much and thank you harris for coming to share what should be someday conventional wisdom instead of superior wisdom. that's a wonderful thing about free markets. it takes things that are rare and makes them commonplace where they are allowed to work. if you look around this country one of the two most troubled areas education and health care. where's the government most involved? education and health care. ask yourself why we have a health care crisis in this country collects is not the overall quality of health care and medical care in this country. overall it's the best in the world by far. we have the greatest longevity in the world by far when you look at the real numbers and not the fake ones the

now for more on the story we're joined live by peter schiff president of investment group euro pacific capital now this is just the latest in a series of scandals linking america's spying on germany why does berlin not react more strongly i don't know you know america is doing a lot to piss off its friends recently not only spying on them and believe me the americans don't like it any more than the germans but we're also finding major european banks in switzerland in france in the u.k. for violating u.s. law but you know the germans maybe should be even more concerned with what happened to their gold than about the about the spy will just let's talk and why is europe so dependent economically on the states there and they're not. you know i think it's the other way around i think the united states is very dependent on the rest of the world it's just incumbent on the rest of the world to figure that out but the u.s. dollar is still functioning as the reserve currency and so the dollar is a part of a lot of transactions but there really is no reason for the dollar to be at the center of t

paribus bank for helping countries avoid sanctions investment broker and financial commentator peter schiff says the u.s. currency is the perfect global currency of choice i think the united states is very dependent on the rest of the world it's just incumbent on the rest of the world to figure that out but the u.s. dollar is still functioning as a reserve currency and so the dollar is a part of a lot of transactions but there really is no reason for the dollar to be at the center of these transactions because the dollar shouldn't be the reserve currency of the united states doesn't share any of the characteristics that it had when the dollar became the reserve currency it's just a matter of time before it no longer functions as a reserve currency and i think the more we tag and eyes the rest of the world with the spying or with these huge fines on foreign banks the quicker that process is going to be to unravel. the dollar dominance is no easy task at all as it's used in some eighty five percent of global exchange deals but some countries have found ways to shift away from the currency and

heading up to realize that company now and taking on a new direction so you like right up there with peter schiff over there and james turk and then there's jeff. better watch out amazing executive talent in the gold and silver us big of these are folks of europe aciphex capital and gold money they get into the crypto game thanks to our recommendation and now you're getting into the crypto game tell us about it yeah i think it's about a year to savor year to you describe me as bit curious we sat here we talked about big korean and i decided looking to be korean and you're a bit curious. and say we've looked a lot more and say in the next month we'll save by september we'll be launching out the queen for gold exchange which is i think that would be like saying you know kind of the people who are interested in bitcoin generally they understand gold as well and i think that is i don't see them as competitive. investments as they were competitive assets instead they are very much complementary and it makes sense to sort of use them in facilitating that way in terms of you know maybe saving your gold

here is peter schiff, europacific capital. we have cot martin with us, united advisors chief market strategist and also a fox business news contributor. peter, i will start with you. has the fed made the market complacent to all the hot spots around the world which are catching fire? >> i don't think any of these hot spots will be the pin that prick this is bubble. i think what americans really have to worry about, at least from the perspective of an investor, is not what the russian separatist its are doing in the ukraine, but what janet yellen and her cohorts are doing at the federal reserve because far more damage is being inflicted now on the u.s. economy and will be inflicted on investors by the federal reserve. adam: scott, do you agree with that? do you think everything happening around the world and that the market is shrugging it off too easily? >> well, it is nice to see, i tell you that much. i don't know if it is too easily or too hard. melissa, to peter's point i think the damage is not totally being done by the fe

what's happening there jand talking about gold and peter schiff, our famous gold bug on. know how that conversation goes. >> i do. coming after farber yesterday. can't wait. >>> coming up, back to the '90s with ron insana and herb greenberg for our series. are investors dangerously parting licts 1999 all over again? wait until you hear who could be making some of the same mistakes, and harley davidson is having a tough time. we'll talk about that coming up. ♪ when the world moves, futures move first. learn futures from experienced pros with dedicated chats and daily live webinars. and trade with paper money to test-drive the market. all on thinkorswim from td ameritrade. if energy could come from anything?. or if power could go anywhere? or if light could seek out the dark? what would happen if that happens? anything. we're changing the way we do business, with startup ny. we've created tax free zones throughout the state. and startup ny companies will be investing hundreds of millions of dollars in jobs and infrastructure. thanks to startup ny, businesses can operate tax

three of favorite guests, mark faber himself, peter schiff and dennis gartman. a special "futures now" calling it "boom or bubble." see you there at 1:00 p.m. eastern. >> that is is a good one. looking forward to that. top of the hour. jackie, thanks aim. >>> is now the time to buy? the question. we'll debate it next. >>> remember, you can weigh in on that discussion in realtime at cnbc.com/vote. >>> then germany versus brazil. you may be thinking world cup. we are thinking investment opportunities, though. the traders facing off over those two countries. more "halftime" up just after this break. >>> rauf day for well-known tech high flyers today. getting hit hard. yelp, twitter, linkedin, that's the story for many of those stocks today. is this a drop worth buying? what we want to know? debate it. logon to cnbc.com/vote. pete takes bull case. joe the bear. buck 30 on the clock. make your case, as people vote now. >> making the case for two of the names. some i can't look it. too toxic. if i look at twitter, looked at linked in in, those are names that as you lo

we talked to peter schiff, dennis gartman, interesting comments on gold., back to you. >> jackie, a lot of people still talking about what those three wise men had to say yesterday. >>> quick programming note. we're half way through competition for trader of the year. it's time for a "half time huddle" tomorrow. all eight face-to-face right here in the house. making new trades, trying to shake up the leader board. will anybody catch joe? things are tight at the top. don't miss our special show. tomorrow. the playbook playoffs, "halftime huddle" ed addition. noon eastern here on cnbc. >>> coming up, a bullish bet on whole foods dpp he hold on too long? >>> and future of gaming. why the best bets may actually be in the games themselves, and not the consols. that's next. ♪ when the world moves, futures move first. learn futures from experienced pros with dedicated chats and daily live webinars. and trade with paper money to test-drive the market. all on thinkorswim from td ameritrade. smoking with chantix. for 33 years i chose to keep smoking... ...because it

if you listen to mark bond and peter schiff they say they see bubbles everywhere except in assets and most of us agree on is there probably is some sort of bubble in the european peripherals. that could have a destabilizing effect. this is relatively serious to me. the reason i think it's only mildly serious at this point in time is because they're not selling french bonds yet. to me that will be the indication that things are really crumbling in europe. but are portuguese and greek bonds mispriced? of course they are. it's just a function of every central bank throwing tons of money into the system. there could easily be a bubble there. we watch china all the time, too. what really could be the indication of destabilization so when those european bonds start to go. i'm not saying today is. if the stock market went about 15 handles lower than here and felt comfortable there i think the race could be on. right now i'm just i think it's worth watching. >> one of the discussions we always have here, jim, is how much the fed's action is sort of masking, or somehow not showing the true sta