Gold Above $2500: SchiffGold Friday Gold Wrap August 16 2024
Gold closed the week near a new all-time high at $2,506 (up $76 since last week) and silver at $29.00 (up $1.55). We discuss gold prices, the strong PPI and inflation data, why the deficit situation is even worse than it seems, and whether the Fed will be forced to return to QE.
OTHER TOPICS DISCUSSED
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- Dollar hits 5-month low
- July deficit reaches whopping 42.5% of federal spending
- Home Depot suffers 3.6% sales decline
- Luxury goods decline as doom spending rises
- Anniversary of closing of gold window
- Powell and Jackson Hole
- Key headlines to look out for in week ahead
Quote of the Week:
Lenin is said to have declared that the best way to destroy the capitalist system was to debauch the currency. By a continuing process of inflation, governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens.”
-John Maynard Keynes
TOP ARTICLES THIS WEEK
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- License to Kill: How Occupational Licensing Stifles The Economy
- Central Banks Buy Gold as Lifeboat
- Peter Schiff: The Fed Still isn’t Data-Driven
- CRE Doom Loop: Rate Cuts Can’t Fill Office Buildings
- How the Russia-Ukraine War Could Go Nuclear–By Accident
- Peter Schiff: More Disastrous Rate Cuts on the Horizon
- Federal Budget: Government Adds $662B of Debt in Three Months
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.
