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Have you heard the news? Greece has defaulted and is facing complete financial meltdown. European banks are exposed to Greek sovereign debt, and US banks are exposed to European banks. As we saw in 2008, it only takes one domino to fall (Lehman) to threaten the entire global financial system. Don’t panic. SchiffGold has compiled […]
In a popular referendum yesterday, Greeks voted to reject further European financial aid in exchange for more austerity. Despite promises to the contrary, Greek banks remain closed, allowing account holders to only withdraw a meager daily maximum of €60. Greek Finance Minister Yanis Varoufakis has resigned. Greece will meet with its creditors tomorrow and try […]
Texas Wants Gold Back from Feds CBS News – Texas wants its physical gold back. In mid-June, Gov. Greg Abbot signed a law creating a state gold bullion and precious metal depository. The Star-Telegram reported that the primary goal of the depository is to “bring home more than $1 billion in gold bars that are […]
Greece missed its International Monetary Fund (IMF) payment earlier this week – the first advanced economy in the world to do so. All of Europe is watching to see if Greece stays in the eurozone and what the ramifications could be for the relatively young euro currency. And while they wait, they’re buying gold. European […]
The Silver Institute has released its June newsletter. The publication features interesting and educational articles about the latest technology in the silver industry, as well as new silver investment products on the market. This edition notes that industrial demand for silver continues to grow in Asia and developing countries: Industrial applications accounted for 56 percent […]
Bank of International Settlements issued a blunt report on Sunday, warning that over-reliance on monetary policy has left central banks with little capacity to deal with the next global crisis. As the Telegraph reports, BIS asserts that central banks have “backed themselves into a corner” by repeatedly cutting interest rates in order to stimulate flagging […]
China will reportedly create a yuan-denominated physical gold price setting mechanism through the Shanghai Gold Exchange (SGE) by the end of the year. According to a Reuters report, the plan aims to give China more influence over gold pricing. The country already leads the world in production and consumption of gold bullion.
Greece has closed its banks and instituted capital controls. The measures will remain in effect until at least July 6th, the day after a popular referendum on European bailout aid is due to take place. Rather than agree to further austerity measures in exchange for an extension of financial aid from its international creditors, Prime […]
Mark Dice walked around downtown Encinitas, California and tried to sell a 10-ounce bar of silver for only $10. At today’s prices, that bar is worth about $160. He asked men and women, young and old, if they’d like to buy it. He even lowered the price to $1 while standing directly out front of […]
Did you know SchiffGold has a YouTube channel with exclusive videos from Peter Schiff? When you subscribe, you’ll be the first to see: Peter’s latest analysis of the gold market. Interviews with experts like Jim Rickards and Axel Merk. High-definition videos of our gold & silver products. Watch Peter’s introduction to our channel below, then […]
