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Archive : Author

POSTED ON August 21, 2018  - POSTED IN Key Gold Headlines

Through the last several presidential administrations, the US has maintained a “strong dollar” policy. As Peter Schiff pointed out in his most recent podcast, it wasn’t so much that you could pinpoint the specific tenets of the policy. It was more about the rhetoric that came out of Washington D.C. Everybody talked about the strong dollar being in the national interest.

Having the belief that there was some kind of hidden strong dollar policy helped to create confidence in the dollar. Even periods where the dollar was declining, perhaps it would have declined even more had it not been for the belief that there was some kind of strong dollar policy.”

But times have changed. As Peter put it, “It should be pretty obvious that Donald Trump has a weak dollar policy.”

POSTED ON August 20, 2018  - POSTED IN Key Gold Headlines

There is plenty of bad news out there. We have a trade war. Geopolitical tensions between the US and Iran and the US and Russia are high. Turkey is in the midst of a currency crisis that some fear will spread beyond that country’s borders. So, why aren’t people seeking safe haven and buying gold and silver?

The CEO at Australia’s Perth Mint has a theory. Richard Hayes said bad news has become so prevalent nobody really pays attention to it anymore. In a nutshell, bad news has become the norm.  As a Bloomberg report put it, “Investors have grown immune to the economic and geopolitical risks that typically drive haven demand for gold.”

POSTED ON August 20, 2018  - POSTED IN Key Gold Headlines

One of the biggest enduring economic myths is the notion that the minimum wage laws only help workers and have no real negative effects. The fallacy inherent in this line of thinking becomes immediately clear if we simply propose a $1,000 per hour minimum wage. After all, if $15 is good, $1,000 would be fantastic, right?

Of course, nobody would pay somebody $1,000 per hour to perform a low-skill task. It’s obviously unaffordable. A $15 per hour minimum is just as unaffordable.

POSTED ON August 17, 2018  - POSTED IN Fun on Friday

Not too long ago, I got a call from some guy that claimed he was from the IRS. You’ve probably gotten one of these calls yourself. You pick up the phone and a guy with a thick Indian accent tells you that you are being investigated for tax fraud. Sometimes they try to scare you by telling you that they’re going to put tax liens on your house and they’re going to seize your bank accounts. The guy may even claim the sheriff is going to show up on your doorstep and throw you in the pokey.

It’s obviously BS. I mean, I know the government is broke, but I don’t think it’s quite reached the point of turning over IRS enforcement to an Indian call center. But I guess people must fall for this because I get these calls pretty frequently.  I just hang up on these clowns, but sometimes people mess with them – like this kid who totally scammed the scammer by barely uttering a word. 

POSTED ON August 17, 2018  - POSTED IN Key Gold Headlines

The bulls are running down Wall Street, but are bears lurking just around the corner? The mainstream doesn’t think so, but Peter Schiff does.

The Dow Jones climbed nearly 400 points Thursday after the Chinese announced a willingness to resume trade talks with the United States. No agenda was set, but the mere prospect of progress injected a shot of optimism in the market. Walmart also helped drive the surge, rising 10% after it beat earnings expectations.

In his most recent podcast, Peter asked the obvious question: why did the slimmest hope that we could see some resolution in the trade war give the stock market such a big bounce? It’s not like the market tanked because of the trade spat. In fact, everybody expects America to win. It’s the Chinese market that has been killed because of the trade war. It didn’t rally at all based on the prospect of talks 

POSTED ON August 16, 2018  - POSTED IN Key Gold Headlines

Turkey has been in the headlines over the last few weeks as a currency crisis has rocked that country. But as Peter Schiff pointed out in his most recent podcast, all of the things commentators are frying Turkey over are happening in the US as well.

All of the criticism that is being leveled against Turkey – that their deficits are too big, that they have a current account deficit, they’re keeping interest rates artificially low,  they’re keeping interest rates below the rate of inflation – all of that criticism can be applied to the United States.”

POSTED ON August 16, 2018  - POSTED IN Guest Commentaries

We have declared 2017 as the “Year of the Bubbles.” We’ve reported on the stock market bubble. We’ve reported on the student loan bubble. We’ve reported on the auto bubble. We even told you about a shoe bubble. And then there is the mother of all bubbles – the debt bubble. All of these bubbles are still floating around out there. Of course, at some point, one or more of them will pop.

All of this is the result of federal reserve monetary policy. Easy money blows up bubbles. Bubbles pop and set off a crisis. Rinse. Wash. Repeat. 

POSTED ON August 15, 2018  - POSTED IN Key Gold Headlines

You’ve probably heard about economic troubles in Turkey. But what’s really going on and what caused it?

In simplest terms, Turkey is in the midst of a currency crisis. The value of the lira has dropped to record lows. Year-to-date, the Turkish currency has fallen 45% against the US dollar. The official inflation rate is over 15%, but economics professor Steve Hanke said the real annual inflation measured for today tops out at 101%.

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