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POSTED ON May 10, 2019  - POSTED IN Fun on Friday

Every other day or so, I get Facebook friend requests from beautiful women. I would like to think it’s because of my handsome face and insightful commentary on why taxation is theft. But I’m pretty certain that’s not what’s going on here.

Nope. The ugly truth is that these are fake accounts trolling for – well I’m not exactly sure what they’re trolling for. I am quick on the delete button when profiles of “women” with no friends in common, no information about themselves on their profile, and no posts other than a few photos, pop up on that friend request list. So, I’m a little in the dark on the specifics of the game they’re playing, but I’m certain that it is likely something that, if taken to its conclusion, would lighten my wallet and likely damage my pride.

POSTED ON May 10, 2019  - POSTED IN Friday Gold Wrap

Trump has leveled a lot of criticism at the Federal Reserve over that last several months. This has led some people to proclaim that the president is an enemy of the Fed. But as Mike Maharrey explains in this week’s Friday Gold Wrap podcast, Trump is no Ron Paul. The president’s beef with the Fed is more about policy and less about the central bank itself. And we should never forget — policy has consequences. In this episode, Mike gives a simple overview of how the Fed creates boom-bust cycles and why Trump needs more boom. He also covers the latest on the trade war and what’s going on in the gold market.

POSTED ON May 9, 2019  - POSTED IN Original Analysis

As the trade war continues to unfold, investors should keep an eye on the dollar

Heated rhetoric between the US and China continued as negotiators from the two countries prepared to sit down for the latest round of trade talks. Pres. Donald Trump accused the Chinese of “breaking the trade deal.” Meanwhile, the Chinese threatened to retaliate if the US increases tariffs. Trump has said he will move ahead and hike tariffs to 25% on $200 billion worth of Chinese imports at the end of this week.

POSTED ON May 9, 2019  - POSTED IN Key Gold Headlines

Consumer debt continues to climb and break records every month. But the pace of borrowing slowed in March, a possible red flag for the US economy.

Total consumer debt rose $10.3 billion in March, hitting a record-setting total of $4.05 trillion, according to the latest report by the Federal Reserve.

Through the first quarter of 2019, American indebtedness increased at a 4.25% annual rate. But the March increase came in at just only 3.1% and ranked as the smallest consumer debt increase in nine months.

POSTED ON May 8, 2019  - POSTED IN Peter's Podcast

There has been significant volatility in US stock markets so far this week. The Dow was down over 470 points Monday morning. Dip-buyers saved the day and the Dow ended up only down 66 points. But then the bottom fell out on Tuesday, with the Dow plunging 473 points.

Tweets by President Trump threatening more tariffs and raising questions about whether China and the US can work out a trade deal sparked this market volatility and the ensuing sell-off.

In his latest podcast, Peter Schiff raises an interesting question: was this by design?

POSTED ON May 8, 2019  - POSTED IN Key Gold Headlines

Jewelers and dealers in India reported brisk gold sales on Akshaya Tritiya, despite the holiday falling on a workday and extreme heat in some regions of the country.

Akshay Tritiya ranks as one of the four most important days for Hindus. The word Akshay roughly translates to “the never diminishing.” The day is believed to bring good luck and success. It is also considered one of the most auspicious occasions to buy precious metals, including gold.

POSTED ON May 7, 2019  - POSTED IN Key Gold Headlines

China added gold to its reserves for the fifth straight month in April and is buying gold at an accelerating pace.

According to the latest numbers released by the People’s Bank of China, the central bank added 14.9 tons of gold to its hoard in April. That raises total official Chinese gold reserves to 1909.4 tons or 61.1 million ounces.

POSTED ON May 6, 2019  - POSTED IN Peter's Podcast

April’s jobs report came out better than expected. According to the Labor Department, the economy added 263,000 jobs last month. That came in well above the expectation of 180,000 jobs. The unemployment rate dropped to 3.6%, the lowest level since December 1969.

But in his most recent podcast, Peter Schiff said the job headlines actually mask the real story.

POSTED ON May 6, 2019  - POSTED IN Key Gold Headlines

A recent video ad produced by a digital currency asset company titled “Drop Gold” created some waves on social media last week. The ad encourages investors to drop gold from their portfolios and replace it with digital currencies such as Bitcoin. “In a digital world, gold shouldn’t weigh down your portfolio,” the ad proclaims.

But is Bitcoin really a replacement for gold? While the Drop Gold ad may seem clever and cute, cryptocurrencies aren’t a replacement for gold.

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