The use of silver in the automotive sector is expected to surge in the coming years, according to the feature story in this month’s edition of the Silver Institute’s Silver News.
With modern cars using more silver than ever in their advanced technology components, analysts project the auto industry will likely need nearly 90 million ounces of silver annually by 2025.
On Monday, the Reserve Bank of Australia announced plans to dramatically increase its quantitative easing program. Was this an Aussie canary in the coal mine foreshadowing what’s coming down the pike from the Federal Reserve? Peter Schiff talked about the RBA’s move in his podcast. He said, for now, the Australian central bank is doing the Fed’s dirty work.
Silver enjoyed a moment in the sun when the Reddit investors turned their attention to the white metal. Silver has since faded from the headlines but it remains an attractive investment option. As one portfolio manager put it, sub-30-dollar silver “is the most attractive macro-economic asset in the world.”
For investors who want to go big and take advantage of what is effectively silver on sale, SchiffGold offers the 1,000-ounce silver bar.
Gold and silver continue to struggle with significant selling pressure. Last Friday, gold dropped some $40 as bond yields rose yet again. There continues to be this expectation that rising inflation and economic growth are going to force the Fed’s hand and cause it to pivot to tighter monetary policy sooner than expected. But in his podcast, Peter Schiff reminds us that inflation is not a threat to gold. And he says anybody betting against the yellow metal and on the dollar is going to lose.
China made a big splash when it rolled out its digital yuan and it got a boost when China’s biggest online retailer announced it has developed the first virtual platform to accept the Chinese digital currency. But China isn’t alone in exploring the possibility of digital money. Sweden has developed a digital currency of its own and the European Central Bank is pushing for a digital euro.
We’re told digital currency should replace unwieldy physical cash. It will be more convenient and help governments stop criminals. But there is a more sinister motive behind this government pivot toward digital currency.
Last week, Peter Schiff appeared on NTD News to talk about the Federal Reserve’s increasing dovishness. He said despite all of the assurances from Jerome Powell that the central bank’s monetary policy isn’t stoking inflation, the economy and the dollar are both at risk for collapse. The Fed is the only thing standing in the way and it can’t stand there forever.
During this interview, Peter also touched on his recent Twitter debate with Elon Musk about bitcoin.
Jerome Powell was on Capitol Hill this week (at least virtually) to talk to Congress. During his two days of testimony, the Fed chair insisted that there is no inflation. In fact, he claimed it will take years for the central bank to reach its 2% target. SchiffGold Friday Gold Wrap podcast host Mike Maharrey says Powell is lying. But if you listen closely and read between the lines, you can dig a bit of truth out from the lies.
The Federal Reserve has created trillions of dollars out of thin air and injected it into the economy over the last year. As a result, the money supply has grown at a record pace. This is by definition inflation. As Peter Schiff has pointed out in recent weeks, signs that this inflation is finding its way into prices are all around us. But mainstream economists tell us we really don’t have to worry about the massive increase in the money supply because the velocity of money is so low. This is simply the number of times a dollar changes hands in a given amount of time. Conventional wisdom holds that as long as the money velocity remains low, the central bank can increase the money supply without any significant corresponding increase in price inflation. But as economist Frank Shostak shows, the conventional wisdom doesn’t hold up to scrutiny.
Interest rates continue to rise. Gold continues to languish. The stock market bubble continues to inflate. In his podcast, Peter Schiff argues that investors are reading the tea leaves all wrong. They think rising rates are going to force the Fed to tighten monetary policy sooner than expected. But Peter says there is a reality out there that nobody wants to acknowledge.
Some policy shifts recently announced by the Indian government in its Union Budget will likely have a positive impact on the country’s gold market. India ranks as the second-largest gold-consuming country in the world, second only behind China.
The three key policy changes that will likely affect the gold market are:
