SchiffGold’s Blog

Gold may be the key to finding space aliens! After years of development, the James Webb Space Telescope (JWST) was launched into space on Christmas day.

President Joe Biden’s “build back better” spending bill seems to be dead — at least for the time being. But there is still plenty of spending coming down the pike. This raises an important question: how is the Federal Reserve going to simultaneously taper its bond-buying program and monetize all of this debt? On Monday, […]

I’ve got good news and bad news. The good news is you probably put a little more money in your pocket in November. The bad news is inflation ate up all your income gains and then some. Real personal incomes fell 0.2% in November despite a healthy gain in nominal income.

While the Federal Reserve talks about tightening monetary policy, the Chinese central bank is heading in the opposite direction. This could boost gold demand in that country even further. Earlier this month, the People’s Bank of China announced a 0.5% cut in financial institutions’ required reserve ratio (RRR). According to the World Gold Council, this move […]

Are we heading toward a Fed policy that fixes inflation at a permanent rate of five to six percent? We could be. But inflation is a policy that cannot last.

In October, Chinese gold imports reached the highest level since December of 2019 as the market continues to recover after taking a hard hit during the coronavirus pandemic. According to the latest data from Chinese customs, the country imported 123 tons of gold in October. That was a 38-ton month-on-month increase. China ranks as the […]

Taper? What taper? Last week, the Fed announced that it plans to speed up the pace of its asset purchase taper. But so far, this taper hasn’t been very impressive. Between Dec. 8 and Dec. 15, the Fed added another 92.1 billion to its balance sheet, expanding it to a record $8.757 trillion.

In October, retail sales surged much higher than expected, rising 1.7%. The mainstream gushed over retail spending, asserting that it was a sign that the economy is booming. At the time, I argued that it wasn’t necessarily good news. Well, the news just got even worse. Retail sales in November disappointed, despite another big surge […]

Russians have gone on a gold-buying spree. According to Russian media reports, investors in the country have bought a record amount of gold since 2014 despite prohibitively high taxes.

Even with the federal government ostensibly trying to limit spending with its head against the debt ceiling, it managed to run another massive deficit in November. The budget shortfall last month was $191.34 billion, according to the latest Treasury Department statement. That was 31.7% higher than the November 2021 deficit.