Northern Irish investors are buying gold and lots of it as a safe-haven in the midst of Brexit uncertainty.
Merrion Vaults, a leading Irish supplier of gold and precious metals storage services, said the number of clients from Northern Ireland purchasing and storing gold in the Republic of Ireland has increased by 70% this year.
Every morning, I get up and peruse the latest gold news. As part of that process, I just Google the word “gold.” I find a lot of useful articles that way. But I also have to filter through a lot of extraneous stuff – headlines like “Australian Bicycle Team Wins Gold Medal.” Anyway, I generally just scroll past that stuff. But as you can imagine, if it’s a big story, I end up seeing the headline over and over again. And sometimes, I click out of morbid curiosity.
That happened today. Over the last couple of days, I kept seeing headlines about how somebody has figured out how to melt gold at room temperature. At first, I thought, eh, I don’t really care. But after seeing the headline for the 894th time, I clicked.
The SchiffGold Friday Gold Wrap podcast combines a succinct summary of the week’s precious metals news coupled with thoughtful analysis. You can subscribe to the podcast on iTunes.
As Peter Schiff put it in his most recent podcast, Jerome Powell blinked.
In a surprising about-face, the Federal Reserve Chair hinted that interest rates are “just below” neutral, leading to speculation that the central bank might be close to ending its tightening cycle. Peter said the Fed has basically been playing a game of chicken with the markets.
And the way the game of chicken goes is the markets keep moving lower and the Fed keeps talking about how great the economy is and how many rate hikes are coming in the future and somebody his to flinch. Somebody has to blink. It’s like you have these two automobiles driving toward each other and there’s going to be a major crash unless somebody turns the wheel. And it seems like it was Jerome Powell that turned the wheel first and in fact was chicken.”
Are you prepared for a disaster?
People tend to stereotype “preppers” as tinfoil hat wearing conspiracy theorists waiting for the zombie apocalypse. Suzanne Sherman busts all the stereotypes.
Stocks rallied and the price of gold got a bounce after Federal Reserve Chair Jerome Powell released a dovish trial balloon on Wednesday.
During a speech at the Economic Club of New York, Powell seemed to indicate interest rates are “just below the broad range of estimates of the level that would be neutral for the economy.” Investors and pundits widely interpreted this to mean the central bank may well be near the end of its tightening cycle.
In this special episode of It’s Your Dime, Mike Maharrey switches roles and becomes the interviewee.
Mike recently appeared on Inside the News with Paul Jensen and Suzanne Sherman on K-TALK AM1640 in Utah to talk about the popping of the auto bubble and more generally how the Federal Reserve has set us up for the next big crash.
Bankers, investors and executives are increasingly worried about corporate debt, according to a Reuters report.
Specifically, the concerns center around “leveraged lending.” These are loans made to firms already deeply in debt. Think subprime loans for corporations. As the Reuters report put it, “the concern is that the loans would be difficult to either collect or resell in a downturn, putting both the borrower and lender at risk.”
In a recent appearance on RT Boom Bust, Peter Schiff emphasized the stock market bubble has burst and we are already in a bear market.
This is early in this bear market. It’s very young and unfortunately, it’s going to be very long-lived. I think this is going to be similar, if not worse, than the bear market that went from 1966 to 1982. It took 16 years for the Dow to make a new high, and during that time period, inflation took about 70% away from the Dow’s value. This time I think it’s going to be worse.”
This isn’t good news if you’re planning for your retirement. So, how can you protect your wealth as the stock market bears rage? One way is by adding precious metals to your retirement plan.
Last week, we reported that it looks like the air is coming out of housing bubble 2.0. Now it appears the auto bubble may have also popped.
Yesterday, GM announced plant closures and layoffs due to sluggish sales. The big automaker said it plans to shutter five North American factories and slash around 14,000 jobs.