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POSTED ON February 9, 2021  - POSTED IN Key Gold Headlines

In a podcast, Peter Schiff said it smells like stagflation is on the horizon. Inflationary pressures are becoming more and more apparent. Labor costs, commodity prices and bond yields are all pushing upward – clear signs of inflationary pressure. And of course, defined correctly – as an increase in the money supply – there is no denying inflation is rampant. We saw a record increase in the money supply last year. The only time that even comes close was the stagflationary period of the 1970s.

But what does this really mean for you and me?

POSTED ON February 9, 2021  - POSTED IN Peter's Podcast

We ended last week with some weaker than expected economic data – particularly the jobs numbers, but the stock market continues to go up. These days, the mainstream reacts to everything as good news. No matter what the data suggests, everybody seems to think things will come up smelling roses because of stimulus. But in a recent podcast, Peter said all of this smells more like stagflation.

POSTED ON February 5, 2021  - POSTED IN Fun on Friday

Over the years, I’ve done a number of Fun on Friday posts about eating gold. You can have gold on your steak, on your desert, and even in your beer. Well, apparently some ancient Egyptians wanted the taste of gold in their mouths for all eternity. Archaeologists recently discovered a 2,000-year-old mummy with a gold tongue at an ancient Egyptian site called Taposiris Magna.

POSTED ON February 5, 2021  - POSTED IN Friday Gold Wrap

It’s been a crazy, volatile week for precious metals. The Reddit Raiders pushed silver to over $29 an ounce and the white metal took gold up with it. But the run was short-lived and we saw a big sell-off in both metals later in the week. In this episode of the Friday Gold Wrap, host Mike Maharrey tries to cut through all the smoke and mirrors and talks about the underlying fundamentals in both the gold and silver markets.

POSTED ON February 4, 2021  - POSTED IN Key Gold Headlines

Last year’s surge in demand for investment gold and silver continued into January if sales at the US Mint are any indication.

American Gold Eagle bullion coin sales were up 455% in 2020 and the selling continued through the first month of 2021. The mint called the current market demand for precious metals coins “exceptional.”

POSTED ON February 4, 2021  - POSTED IN Peter's Podcast

Minneapolis Federal Reserve Bank President Neel Kashkari has been making the rounds. Peter Schiff talked about Kashkari’s recent comments on his podcast.

Kashkari ranks as arguably the most dovish Fed president. Peter called him the “uber-dove” saying he basically wants to print as much money as possible.  During an online seminar put on by Montana’s Bureau of Business and Economic Research, Kashkari said the Fed needs to do even more to boost the economy and he’s not worried about overdoing it.

POSTED ON February 3, 2021  - POSTED IN Interviews

On Monday, Feb. 1, Peter appeared on NTD Business to talk about the attempted short squeeze on GameStop and silver. He said we shouldn’t compare GameStop stock to silver. Unlike GameStop, there are fundamentally sound reasons to buy silver, with or without the endorsement of the Reddit traders.

When the Reddit Raiders turned their attention to silver, Peter tweeted that they were getting smarter. “Silver stocks are actually cheap and represent good investment value. The fact that some investors were foolish enough to short these stocks makes their trade even better.”

POSTED ON February 2, 2021  - POSTED IN Key Gold Headlines

Total gold supply fell 4% year-on-year in 2020 to 4,644 tons. It was the largest annual decline since 2013, according to data from the World Gold Council.

The decline was primarily driven by disruptions in mine production due to the COVID-19 pandemic. Gold mine output fell 4% on the year. More significantly, it marked the second straight yearly drop in mine production and continued a trend of flatlining gold mine output.

POSTED ON February 2, 2021  - POSTED IN Peter's Podcast

The Reddit Raiders turned their eyes toward silver over the weekend. Interest in the white metal sparked a surge in retail demand and pushed the spot price of silver briefly over $29 an ounce. As Peter Schiff put it, the Reddit Riders were riding silver instead of piling into heavily shorted stocks.

But how should we look at this recent run-up in silver? And where might it go from here? Peter talked about it in his podcast.

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