A Perfect Credit Storm: SchiffGold Friday Gold Wrap October 11 2024

Gold closed the week at $2,657 (up $5 since last week) and silver at $31.52 (up $0.67). We discuss the economic aftermath of Hurricane Milton, crashing Chinese stocks, and terrifying credit card interest rates.

OTHER TOPICS DISCUSSED

• • September Core CPI data above expectations at 0.2%
  • Jobless claims jump 33,000 to 258,000
  • Consumer sentiment falls to 68.9
  • Credit card interest rates reach average of 30.45%
  • The economic impact of Hurricane Milton and Helene
  • Key headlines for next week

Quote of the Week:

Whoever eats up, robs, and steals the nourishment of another, that man commits as great a sin as if he had strangled or starved such a person to death… such is the sin of usury.”

-Martin Luther

TOP ARTICLES THIS WEEK

• • Sugar-Coating Failure: How Protectionism Sours the American Economy
  • Boeing Strikes Bode Ill for the U.S. Economy
  • Schiff on Commodity Culture: The Mainstream is Wrong on China
  • Credit Card Interest Rates Hit All-Time High
  • Peter Schiff: BLS Report Not All It’s Cracked Up To Be

The SchiffGold Friday Gold Wrap podcast combines a succinct summary of the week’s economic precious metals news coupled with thoughtful analysis. You can subscribe to the podcast on Apple Podcasts and other podcasting platforms. The links are below.

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The above references an opinion and is for information purposes only. It is not intended to be investment advice.