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Archive : Author

POSTED ON December 13, 2020  - POSTED IN Key Gold Headlines

The US government kicked off fiscal 2021 with the biggest October deficit in history. But with the first of November falling on a weekend, some November spending got shifted into October, inflating that month’s deficit. Now that we have the November monthly Treasury Statement, we have a better sense of how big deficits are running in the new fiscal year.

In two words — really big.

POSTED ON December 13, 2020  - POSTED IN Peter's Podcast

There were two big IPOs last week – DoorDash and Airbnb. Both companies raised over $3.5 billion in their public offerings. In his podcast, Peter Schiff talked about the IPO frenzy. He argues that it has very little to do with funding great business ventures. It’s more about making a quick buck in a market juiced by easy money from the Federal Reserve.

POSTED ON December 11, 2020  - POSTED IN Friday Gold Wrap

There is a lot of talk about student loan forgiveness. The idea is wildly popular and it would relieve a huge burden crushing millions of Americans. But is there any downside to this idea? In this episode of the Friday Gold Wrap podcast, host Mike Maharrey talks about the student loan debacle and the possible downside of loan forgiveness. He also touches on the shaky labor market and why the bond market can’t tell us anything about inflation.

POSTED ON December 10, 2020  - POSTED IN Key Gold Headlines

Last summer, the Chinese government launched a pilot program for a digital version of the yuan. The virtual currency ups the ante in the war on cash and creates the potential for the government to track and even control consumer spending.

Last week, the digital yuan got a boost when China’s biggest online retailer announced it has developed the first virtual platform to accept the Chinese digital currency.

POSTED ON December 9, 2020  - POSTED IN Key Gold Headlines

Senate Minority Leader Chuck Schumer recently suggested that as one of his first acts as president, Joe Biden should wipe out $50,000 of student loan debt for every borrower by executive order. But what kind of impact would this have on the US economy?

It would certainly benefit a lot of people. But somebody would have to pay the bill. And that somebody is everybody else.

POSTED ON December 9, 2020  - POSTED IN Peter's Podcast

A lot of pundits and analysts insist inflation isn’t a problem because the bond market isn’t signaling any inflation concerns. But in his podcast, Peter Schiff argues that you can’t rely on this bond market to tell you anything. The bond market is broken, thanks to the Federal Reserve. It’s rigged and it’s sending false signals.

POSTED ON December 8, 2020  - POSTED IN Key Gold Headlines

Demand for silver jewelry is expected to rebound sharply in 2021, according to a report released by the Silver Institute.

The COVID-19 pandemic crushed silver jewelry demand this year. The economic slowdown, coupled with record silver prices in India and higher US dollar prices, is expected to drive a 23% decline in silver jewelry demand in 2020. But the Silver Institute report anticipates a bounceback in 2021, with a projected 13% recovery even with the expectation of higher silver prices.

POSTED ON December 8, 2020  - POSTED IN Key Gold Headlines

When unemployment began to quickly shrink over the summer as governments loosened up on the economic lockdowns in response to COVID-19, everybody got giddy and assumed we were in for a quick recovery. But we’ve been saying that the quick turnaround was an illusion and that the lockdowns caused deep wounds in the labor market. The numbers are starting to hint at this reality.

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