Just like that, it appears the trade war is over. Although, as Peter Schiff pointed out in his latest podcast, it wasn’t really much of a war.
I don’t think I should call it a ceasefire because nobody actually fired a shot, and it’s been more of a war of words than a real conventional battle. I mean, basically a lot of saber-rattling, not a lot of fencing. But I think what happened today is we called a truce. Both sides sheathed their sabers and agreed that there’s not going to be a war.”
Your great grandchildren are broke.
They may not even be born yet, but they are still broke.
The government has spent us, our children, our grandchildren and even our great-grandchildren into a black hole of debt. The world is drowning in debt. At some point, somebody will have to pay for it – one way or another.
On May 15, Peter Schiff delivered the keynote address at the Cambridge House International Mining Investment Conference. Peter titled his speech “The Calm Before the Storm.” People are still generally optimistic about the economy, but as Peter said, everything feels great until you realize the party is over.
Warren Buffett has never been a fan of gold and has publicly disparaged the yellow metal on more than one occasion. During his annual shareholders meeting earlier this month, he compared investing in gold and stocks, arguing that over the long term gold is an “unproductive asset” that “doesn’t produce anything.” So, why have it, unless you just want something to “fondle.”
But is Buffett really making an accurate comparison? Or is this a proverbial apples and oranges scenario?
I have found the perfect way for you to wash money down the drain. I mean literally wash it down the drain.
A Lebanese company has produced a bar of soap worth an estimated $2,800.
I know what you’re thinking. Soap that costs nearly three grand? What, is it made of gold?
Why yes. Yes, it is.
Do you dream of retirement? Sitting on a beach sipping cocktails? Leisurely afternoon rounds of golf? Spending hours playing with grandchildren?
Well, for a lot of Americans, that retirement dream may turn into a nightmare. Instead of reclining poolside, they may find themselves greeting customers at Walmart.
According to data recently released by Northwestern Mutual, one-third of Americans have less than $5,000 in retirement savings.
The head of one of the world’s largest gold mining companies says we’ve found all the gold.
Ian Telfer serves as the chairman of Goldcorp Inc., a worldwide gold mining company based in Canada. During an interview with the Financial Post, he said the world has reached “peak gold,” meaning as we move into the future, mine production will decline steadily.
If I could give one sentence about the gold mining business … it’s that in my life, gold produced from mines has gone up pretty steadily for 40 years. Well, either this year it starts to go down, or next year it starts to go down, or it’s already going down. We’re right at peak gold here.”
On Tuesday, the Dow Jones dropped nearly 200 points. Gold fell close to 2% and fell below the $1,300 mark. Meanwhile, bond prices dropped as yields on the 10-year pushed above the 3% level.
In his most recent podcast, Peter Schiff said we’re witnessing a bond breakdown as it gathers momentum.
In fact, the bond market had one of its worst days all year Tuesday.