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POSTED ON November 16, 2020  - POSTED IN Key Gold Headlines

If you thought maybe the federal government would try to rein in the spending after running a recorded budget deficit of $3.13 trillion in fiscal 2020, you were sorely disappointed. Uncle Sam has not kicked his spending habit.

October was the first month of FY 2021 and the federal government kicked off the year with a $284.1 billion budget deficit, according to the latest Monthly Treasury Statement. It was the largest October budget shortfall in American history.

POSTED ON November 16, 2020  - POSTED IN Peter's Podcast

Michael Osterholm is one of the doctors advising Joe Biden on the coronavirus. He has said the US needs to impose a complete lockdown for four to six weeks. Osterholm claims this won’t be a problem because the US government can just pay everybody. In other words, Uncle Sam would give every American a paid vacation.

In his podcast, Peter Schiff explained why this proposal is ridiculous.

POSTED ON November 13, 2020  - POSTED IN Friday Gold Wrap

Gold and silver sold off big and the Dow surged Monday on the announcement the Pfizer had successful coronavirus vaccine trials. But Friday Gold Wrap host Mike Maharrey says investors should maybe tap the brakes on thinking that a coronavirus vaccine is a cure-all. In this episode, the looks a little deeper at the long-term ramifications of a vaccine. He also breaks down the newest budget deficit numbers.

POSTED ON November 11, 2020  - POSTED IN Key Gold Headlines

Gold has helped Indians weather the economic storm caused by the coronavirus pandemic.

The government response to COVID-19 has ravaged the Indian economy. As a result, many banks are reluctant to extend credit due to fear of defaults. In this tight lending environment, many Indians are using their stashes of gold to secure loans.

POSTED ON November 10, 2020  - POSTED IN Peter's Podcast

Stocks soared, and gold and silver sold off Monday after Pfizer announced success in stage III coronavirus vaccine trials.

During his podcast, Peter Schiff talked about the crazy day in the markets and suggested we might want to tap the brakes when it comes to the excitement about a COVID vaccine because there is no vaccine for what actually ails the economy.

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