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The World Economic Forum’s meeting in Davos ended this past weekend, and much of the mainstream news focused on the hypocrisy of the world’s wealthiest individuals discussing the plight of the global economy. Research released by Oxfam in the middle of the conference shows that the richest 1% own 48% of the world’s wealth. Politicians […]
As of this morning, gold is up more than 10% and silver is up more than 16% since the beginning of the year. Gold stocks have also been strong, especially in the mining sector. While the S&P 500 has dropped about 1%, the Arca Gold Miners Index is up nearly 25%. Unsurprisingly, the mainstream financial […]
The European Central Bank (ECB) will begin a new quantitative easing (QE) program in March. The central bank announced this morning that it would buy at least 1.1 trillion euros worth of euro-denominated bonds from governments and private institutions across Europe. It will begin its monetary manipulation at the rate of €60 billion a month, […]
The German central bank (Bundesbank) repatriated 120 metric tons of gold in 2014. 85 of those tons came from the New York Federal Reserve, which held nearly half of Germany’s gold at the time. This is in sharp contrast to repatriating just 37 tons in 2013 – only 5 of which came from New York. […]
Precious metals naysayers often fail to keep a global perspective on the economics behind gold and silver. This past week has been a stark reminder that gold is an international asset whose real, fundamental value cannot be found in US dollar terms alone. When the Swiss franc’s peg to the euro was dropped, gold surged […]
The price of gold took off this morning when news broke that the Swiss National Bank has removed the euro cap on the Swiss franc. For three years, the franc has had a ceiling of 1.20 francs per euro. When the cap was removed, the currency surged 30% against the euro, sending currency traders scrambling […]
Famed contrarian investor Marc Faber has predicted that gold will go up “substantially” in 2015, perhaps as much as 30%. Much like Peter Schiff, Faber sees 2015 as the year that the markets wake up and realize that central banks are no longer capable of artificially supporting asset prices. Faber’s investment advice comes down to […]
In his latest podcast, Peter Schiff dissects the jobs numbers from December, Obama’s new community college plan, and Charles Evans’ call for more inflation. Peter continues to be one of the few reporting on the reality underlying the headline jobs numbers, though Paul Craig Roberts just published an enlightening article at LewRockwell.com. Roberts looks at […]
Lawrence Williams reports for Mineweb that the Shanghai Gold Exchange (SGE) reported more than 2,100 metric tons of gold withdrawals in 2014. The last three trading days of the year alone saw 29 tons of withdrawals. Many analysts have turned to figures from SGE as a better gauge of Chinese consumer demand, because the Chinese […]
Last week, President Obama announced a plan to provide “free” community college to American students. Democrats in particular rejoiced at the proposal, revealing just how limited mainstream economic literacy really is. Austrian economists like Peter Schiff know that nothing is really free. Indeed, Obama’s plan would cost the federal government at least $60 billion. That’s […]
