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The People’s Bank of China (PBOC) announced today that it’s gold holdings have grown by 57% to about 1,658 metric tons. This is the first official update to China’s gold reserves since 2009. China’s gold reserves are now the fifth largest of any country in the world and sixth when you include the holdings of […]
While visiting Athens, SchiffGold President Mike Freedman spoke with two Greeks about their country’s economic crisis. One had voted “yes” in the July 5th referendum, while the other had voted “no.” His conversations were eye opening and hold important lessons for America. Find Mike’s personal thoughts on the matter below.
Could America go the way of Greece? Most people don’t seem to think so. In fact, proposing that US policy could lead to a Greek-like meltdown will still elicit incredulous eye-rolls in most circles. But some of the structural problems that led Greece down her road to ruin already exist in the United States, especially […]
Fund managers are starting to view gold as a bargain. According to Business Insider, in its latest survey of fund managers, Bank of America Merrill Lynch found the majority view gold as “undervalued.” In fact, this is the first time since 2009 that fund managers have marked gold as a good buy. By Bank of […]
I like chocolate. In fact, I like it a lot. That said, I sure wouldn’t pay $150 for a chocolate bar. But apparently a lot of Americans value chocolate about that much, or they simply don’t understand the value of precious metals. A few weeks ago, Mark Dice tried – and failed – to sell […]
Supporters of a $15 per hour minimum wage continue to insist that it won’t impact employment. But the economic problems underlying the Puerto Rican debt crisis tell a different story and provide a possible glimpse into America’s future if the country continues down that path. Last month, Puerto Rico Governor Alejandro García Padilla announced that […]
The United States Mint announced Tuesday that it has temporarily sold out of 2015 American Eagle silver bullion coins. According to a Reuters report, demand for silver has surged due to low prices and uncertainty due to the Greek crisis. According to Reuters, “dealers attributed the recent rush to purchase silver coins and bars to […]
If I want 100 pennies, all I have to do is go to my local bank and plop down a $1 bill. But if I want plastic pennies, now that will cost me some real dough – $3.49 to be exact. Who would have thought there was money to be made in toy pennies? A […]
Ken Hoffman, Global Head of Metals & Mining Research with Bloomberg Intelligence, spoke with Kitco News about the possibility of China putting its yuan currency on a gold standard. Hoffman emphasized it is not difficult to imagine, because China has been laying the groundwork for years – buying up gold, starting a gold bank, building extra […]
Conventional wisdom holds that “you can’t have your cake and eat it too.” That is unless you live under a socialist government in cahoots with central bankers. Then you can have all the cake you want and eat it to your heart’s content. Until, of course, you run out of other people’s cake. The crisis […]
