The federal government continues to spend money at an insane rate and is running up budget deficits reminiscent of the Great Recession era.
With one month left to go, the federal budget deficit for fiscal year 2019 eclipsed $1 trillion in August, according to Treasury Department data released last Thursday.
It’s Friday the 13th!
You know what? It already seems lucky to me. Heck, it’s Friday. That’s a pretty good start!
I’ve never been one to get all torqued up about the number 13 anyway. In fact, I kind of like it. My preferred hockey number is 33 in honor of Patrick Roy and just because it has nice symmetry. But if it’s not available, I’ll go with 13. Why not mock the number gods, right?
The price of gold whipsawed this week, driven up and down by various headlines. In this episode of the Friday Gold Wrap, host Mike Maharrey covers some of the big news that moved the markets. But he said that we need to keep our eyes on the big picture. All of this is happening in front of a backdrop of surging debt driven by central bank policy. How much do we owe and what does it mean for the future? Mike talks about it.
Donald Trump has been badgering Federal Reserve Chairman Jerome Powell for months, begging for lower interest rates. Yesterday, he took things to another level, saying that the “boneheads” at the Fed need to push rates into negative territory.
In his podcast, Peter Schiff said negative interest rates are boneheaded.
Corporations are piling on the debt.
Last week, companies borrowed $74 billion in the US investment-grade bond market. It was the largest corporate debt increase for any comparable period since they started tracking such things in 1972.
José Niño was born in Venezuela and his family has experienced the impacts of socialism first hand. But was it “real socialism?”
On this episode of It’s Your Dime, José and host Mike Maharrey talk about it.
José had the good fortune of leaving Venezuela before it descended into chaos. After reading the tea leaves and realizing that the country was heading down the path of political turmoil, José’s parents brought his family to the US in search of better opportunities.
As Bloomberg put it, Russia’s bet on gold looks better every month.
The Russian Central Bank’s gold reserves have topped $100 billion thanks to continued buying and surging prices.
Gold has been on a three-day skid, but as Fox Business anchor Liz Claman put it, “So what? It’s been a breakout summer for bullion.”
Over the last three months, gold is up about 12% and has hit six-and-a-half year highs in recent weeks.
Peter Schiff joined Claman, along with, Frank Holmes and Imaru Cassanova on The Claman Countdown to talk about the yellow metal.
The silver market in India has enjoyed massive growth over the last several years. Demand for the white metal has increased from around 3,000 to 6,000
tons over the last five years, according to Chirag Thakkar, CEO of the Indian bullion company Amrapali Gujarat.
The Silver Institute interviewed Thakkar for the latest edition of Silver News.
Is the US losing its grip on the world? And could the dollar ultimately be dethroned from its spot as the world’s reserve currency?
We’ve reported extensively on countries working to undermine dollar hegemony and reduce the United States’ ability to weaponize the dollar as a foreign policy tool, along with the global gold rush on the part of central banks. Last week, Peter Schiff appeared on RT, along with former Pentagon official Michael Maloof, to talk about the world’s growing frustration with America. Peter said countries worldwide are ready to dump the US.
