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It’s official: China now plays a small role in directly setting the price of gold in Western markets. For the first time ever, a Chinese bank has joined the twice-daily gold price fixing process run by the London Bullion Market Association (LBMA). As we reported back in February, this news was anticipated. The LBMA has […]
On Friday, Texas Governor Greg Abbott approved a law creating the Texas Bullion Depository – the first state-level precious metals depository in the United States. The bill would also allow Texas to repatriate $1 billion of gold back into the state. The law will go into effect immediately, though it is still unknown exactly where and […]
If you’re planning on buying gold later this summer or in the fall, you might want to consider acting sooner. A looming miners strike in South Africa could push gold prices up in the near to medium-term. According to a Reuters report, “South Africa’s Association of Mineworkers and Construction Union [AMCU] could launch a wildcat […]
When an investment columnist who makes it a point to tell you, “I am no gold bug,” writes a column entitled “Gold can glitter if stocks hit the rocks,” it should serve as a pretty good indication now may be the right time to invest in gold. Jeff Reeves writes for MarketWatch, “…given the continued […]
Last week, International Monetary Fund Managing Director Christine Lagarde said that the Federal Reserve should delay any interest rate hikes until 2016. Higher US policy rates could still result in significant market volatility with financial stability consequences that go well beyond the US borders. In weighing these risks, we think that there is a case […]
After the bombing of Pearl Harbor, President Franklin D. Roosevelt called Dec. 7, 1941, “A date that will live in infamy.” When it comes to the US monetary system, June 5, 1933 should share that ignoble title, because that date marks the beginning of a slow death of the dollar. Eighty-two years ago, the US […]
Austria Repatriating Some Gold from Britain Reuters – Austrian central bank officials say they plan to repatriate some of its gold reserves from Great Britain in response to criticism that it stores too much of its precious metal abroad. The Austrian National Bank administers the country’s 280 metric tons of gold reserves. Currently, about 80% […]
Just as Peter Schiff has been predicting, first-quarter GDP in the United States was revised dramatically lower today. The Commerce department previously estimated that US economic output rose 0.2% in the first quarter of 2015, but it is now reporting a seasonally adjusted rate of negative 0.7%. Peter has anticipated this downward revision since the […]
A lot of mainstream analysts will tell you that hyperinflation and currency collapse can’t happen today in an established economy, and they discount warnings about the dollar’s future by people like Peter Schiff. But one only needs to look to the south to see that it not only could happen, it is. Venezuela was once […]
A recent report by Bloomberg highlights that if China were to adopt a gold standard, it would look nothing like the traditional systems used in the past. Ken Hoffmann, Bloomberg’s Global Head of Metals & Mining Research, doesn’t believe conventional western wisdom can predict the actions China might take. In fact, he cautions that China […]
