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POSTED ON June 19, 2020  - POSTED IN Fun on Friday

Confession: I am prone to lose things.

I spend an inordinate amount of time looking for my glasses. I had to put a big lanyard on my keys to help me keep up with them. There’s even a running joke with one of my best friends about the frequency of losing my car in the parking lot.

But in all my years of losing stuff, I can’t match some poor soul in Switzerland. Last October, somebody left a package of gold bars on a Swiss Federal Railways (SBB) train valued at about $190,000.

POSTED ON June 19, 2020  - POSTED IN Friday Gold Wrap

Jerome Powell ventured to Capitol Hill – virtually – to talk to Congress this week. Powell did what he does best – blew a lot of smoke. Meanwhile, the central bank upped its stimulus ante yet again. In this episode of the Friday Gold Wrap podcast, host Mike Maharry talks about the impact the Fed is having on the economy, along with the news of the week in the gold market.

POSTED ON June 18, 2020  - POSTED IN Key Gold Headlines

Over the last several decades, the Federal Reserve and the US government have almost exclusively directed their policies toward “stimulating” spending. Artificially low interest rates incentivize borrowing and discourage savings.

But spending money isn’t the only thing that makes the economy go around. Savings are crucial and the lack of saving in America has hollowed out the US economy.

POSTED ON June 18, 2020  - POSTED IN Key Gold Headlines

Last week, we reported Yale economist Stephen Roach’s warning that “the era of the US dollar’s ‘exorbitant privilege’ as the world’s primary reserve currency is coming to an end.”

Roach isn’t the only person in the mainstream sounding the alarm about the dollar’s demise.  In a note published last week, Guggenheim Investments Chief Investment Officer Scott Minerd said that while “there are no signs the world is questioning the value of the US dollar” right now, it’s clear that the greenback is  “slowly losing market share as the world’s reserve currency.”

POSTED ON June 17, 2020  - POSTED IN Peter's Podcast

On Tuesday, Federal Reserve Chairman Jerome Powell testified before the Senate Committee on Banking, Housing, and Urban Affairs. It was classic Fed “open mouth operations” as Powell tried to talk up the central bank’s policies and assure everybody that everything is under control. But is it, really?

Peter Schiff hit some of the highlights of Powell’s testimony during his podcast.

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

When the May jobs report came out with 2.5 million jobs added a drop in unemployment to 13.3%, I told several friends the numbers seemed implausible.

It appears I might have been right.

The Department of Labor’s Bureau of Labor Statistics survey takers mistakenly misclassified about 4.9 million people as employed, although they were unemployed.

POSTED ON June 15, 2020  - POSTED IN Peter's Podcast

After the stock market tanked last week, the Trump administration tried to do damage control and talk the economy back up. In his podcast, Peter Schiff said the damage control fell flat. In fact, everything the government is doing claiming to help isn’t helping at all.

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