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POSTED ON December 13, 2018  - POSTED IN Key Gold Headlines

Stock markets have been extremely volatile this week, with massive swings in both directions. The markets rallied on Wednesday, primarily due to optimism about progress in the trade war. On the week, the Dow is up around 100 points, but it also put in new lows.

In his most recent podcast, Peter Schiff said he thinks the volatility will continue. It’s a sign of trouble in the economy – trouble ultimately created by Federal Reserve monetary policy.

POSTED ON December 13, 2018  - POSTED IN Key Gold Headlines

Remember back when Janet Yellen was heading up the Federal Reserve and she claimed there won’t be another financial crisis “in our lifetime?” You don’t have to think back too far. It was just about 18 months ago. Tuesday, June 27, 2017, to be precise. But now that Yellen has vacated the Eccles building and taken up residence at the Brookings Institute, she’s changed her tune. In fact, she’s singing an entirely different song.

During a talk at the City University New York, this week, Yellen said she fears there will be another financial crisis.

Assuming she doesn’t plan on dying any time soon, she apparently means within her lifetime. 

POSTED ON December 12, 2018  - POSTED IN Key Gold Headlines

US stock markets took another nosedive last week. Analysts blame the selloff on fears that the arrest of a Chinese businesswoman could derail apparent progress in resolving the trade war between the US and China. But during an interview on RT America, Peter Schiff said that while the arrest of Meng Wanzhou might have sparked the selloff, it wasn’t the underlying reason.

This is a bear market. That’s why the market went down. If it wasn’t that, they would have found another excuse. If we were in a bull market, I think the market would have shrugged it off. So, we’re going lower.”

Peter has been saying we’re in a bear market for weeks. Technically, the broader markets are not in bear territory. But when you look at individual stocks, the picture isn’t so bright. Nearly half of the stocks on the S&P 500 are, in fact, in a bear market. 

POSTED ON December 11, 2018  - POSTED IN Videos

Peter Schiff appeared on RT America Friday to talk about the big stock market selloff in the wake of the arrest of Meng Wanzhou, a Chinese businesswoman accused of violating US sanction laws. The markets reacted negatively, fearing the arrest could derail apparent progress in the trade war.

Peter said Wanzhou’s arrest may have provided the catalyst sparked the sell-off, but it wasn’t the underlying cause.

This is a bear market. That’s why the market went down. If it wasn’t that, they would have found another excuse. If we were in a bull market, I think the market would have shrugged it off. So, we’re going lower.”

POSTED ON December 11, 2018  - POSTED IN Key Gold Headlines

Americans continue to bury themselves in debt.

US consumer credit rose by the largest amount in 11 months in October, as Americans piled on another $25.4 billion in debt, according to the latest consumer credit report by the Federal Reserve. Total consumer indebtedness is rapidly approaching $4 trillion, with Americans currently $3.96 trillion in the red.

POSTED ON December 10, 2018  - POSTED IN Key Gold Headlines

November’s jobs numbers came out Friday weaker than expected.

Trump’s twitter feed was strangely silent on the jobs report. Generally, he likes to tout unemployment as an accomplishment, even though he poo-pooed the same numbers when he was campaigning against Obama.

As Peter Schiff pointed out in his most recent podcast, the official numbers significantly understate unemployment.

POSTED ON December 10, 2018  - POSTED IN Key Gold Headlines

A strong dollar in recent months has created the biggest headwinds for gold. But will dollar strength continue? Most foreign currency traders recently polled by Reuters don’t think so.

Reuters surveyed more than 60 currency analysts and the consensus was that the dollar would be weaker against major currencies in a year. The exchange strategists say slowing economic growth in the US will drag the greenback down in 2019. 

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