ESG, or “Environment, Social, and Governance,” is the new feel-good buzzword in the halls of global corporations and megabanks. It’s a PR push to cloak morally disastrous firms in a veneer of social and environmental responsibility — lip service — but at the end of the day, I believe the market will speak.
The CME Comex is the Exchange where futures are traded for gold, silver, and other commodities. The CME also allows futures buyers to turn their contracts into physical metal through delivery. You can find more details on the CME here (e.g., vault types, major/minor months, delivery explanation, historical data, etc.).
At SchiffGold, while there are areas of disagreement with Warren Buffett’s right-hand man, the late Charlie Munger, his nuggets of wisdom, often referred to as ‘Mungerisms,’ hold considerable weight in the financial world. Covering topics from wealth and happiness to avoiding foolish mistakes, Munger’s insights are diverse.
The most direct way to invest in gold is to buy gold and as SchiffGold advises the smart way to buy gold is to buy gold coins or billions. Sometimes investors bullish on the long-term prospects of gold take a look at the stocks of gold mining companies. Stocks of course lack some of the most attractive features of gold such as physical portability, and its finite amount (stocks always be diluted). Plus, mining companies can go bankrupt and are at greater risk from new regulations.
In a recent interview, Peter Schiff was featured on Real America with Dan Ball.
On Super Bowl Sunday, President Biden took to X (formerly Twitter) to skewer consumer brands for “shrinkflation,” a phenomenon where product vendors reduce package sizes without proportionally reducing price, in what essentially amounts to a per unit cost increase for consumers. The video explicitly calls out popular snack brands such as Breyers, Gatorade, and Tostitos— all food products that are likely on the top of consumers’ minds when thinking of inflation.
Can America hope to climb past its mountain of $34 trillion of federal debt? With the staggering weight of unfunded liabilities in vital entitlement programs like Social Security and Medicare reaching $212 trillion, any strategy for repayment is met with formidable obstacles. Our guest contributor arrives at a sobering verdict: the magnitude of the debt renders the prospect of repayment virtually impossible.
The US can still take decisive action to rein in spending and prevent further exacerbation of its dire financial predicament.
Peter released a brief video addressing the looming resurgence of inflation.
Ironically, on the back of disappointing inflation numbers, gold witnessed a dip below $2000 on Tuesday due to higher-than-expected CPI data.
It’s already looking like it could be a dramatic year for the US dollar, and a good time to check in on a few of the major troubled currencies around the world: the Turkish Lira, Argentine Peso, and Russian Ruble.
JD and Joel discuss this week: why gold is down, Peter Schiff’s best takes on Biden’s Super Bowl shrinkflation ad, and thoughts about “the best time” to sell gold.