You may have noticed that the financial media has started talking about inflation. But by and large, it’s not a warning. It’s reassurance. Many analysts are dismissive of any concerns raised about inflationary pressure. They often claim the bond market isn’t signaling inflation. But as Peter Schiff points out in a clip from a recent podcast, the bond market is rigged.
The government response to the coronavirus pandemic has put extraordinary pressure on small businesses. And that pressure is about to increase thanks to yet another government action – minimum wage increases across the US.
There were a number of inauspicious records set in 2020 and the impacts will continue to reverberate through the economy in the future.
The Federal Reserve created money at a record rate. It also increased its balance sheet to record levels. And not to be outdone, the US government set a budget deficit record.
These three records were actually linked. The money printing and expansion of the Fed balance sheet were necessary to monetize the massive federal debt. And there is no sign that anything will be different in 2021.
Everybody was happy to get 2020 behind them. We figured it can’t get any crazier. Then 2021 showed up and said, “Hold my beer!” During the first full week of 2021, we had surprise election results and protests that went sideways in Washington D.C. That produced strange reactions on Wall Street. In this episode of the Friday Gold Wrap podcast, host Mike Maharrey talks about a wild week one of the new year and ponders what might be coming down the pike.
Last September, Peter Schiff warned during an interview on RT Crosstalk about the devaluation of the dollar.
Everybody in America is going to be impoverished to a degree by these failed policies.”
Peter recently appeared on the Chris Salcedo Show on NewsMax to talk more about government spending, inflation, and the weakening dollar.
Somewhat lost in the chaos of the DC protests was the fact that Democrats won both Georgia Senate runoff races. That effectively gives the Democrats control of both houses of Congress. In his podcast, Peter Schiff made the case that Congress is the real threat to America, not the protesters who broke into the Capitol building.
Demand for physical gold and silver surged last year as smart investors sought safe haven from a record-breaking expansion in the money supply, record federal budget deficits, and quantitative easing set to infinity.
Sales of US gold and silver bullion coins at the US Mint hit a 4-year high in 2020.
Peter Schiff appeared on the Lions of Liberty podcast with Marc Clair to look back at the Trump economy and ahead to what the Biden years might bring. Along the way, Peter and Marc talk about the stock market bubble, Peter’s move to Puerto Rico, the looming dollar collapse, and bitcoin.
The first trading day of 2021 was, as Peter Schiff put it, “atypical.”
In his first podcast of 2021, Peter analyzed the unusual day on Wall Street and explored a significant question: are we beginning to see the decoupling in the global financial markets that he’s been predicting for years?
The year 2020 will not go down as a banner year, but it was fantastic for gold and silver. Both metals charted their best years since 2010.
On New Year’s Eve 2019, gold was trading at $1520.90. It closed the year at $1892.90 for a 24.5% gain.
