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POSTED ON August 12, 2016  - POSTED IN Key Gold Headlines

Each week there are plenty of new reasons to get fed up with our beloved central bank. Here’s what they’ve been up to in the past seven days.

Ben Bernanke:  Uncertainty Could Lead to No Rate Hike until 2017

On Monday, former Fed Chair Ben Bernanke laid out his thoughts on how the rest of this year would play out for the US economy. Overall, he sees that the past two years have brought about tighter financial numbers, weaker growth, and low inflation. Bernanke seems to estimate the Fed’s false promises of a rate hike have caused investors to slow down and even reverse course in some ways.

“Fed-watchers will see less benefit in parsing statements and speeches and more from paying close attention to the incoming data,” Bernanke said in his article for Brookings.  “Market participants now appear to expect few if any additional rate rises in coming quarters.”

Of course, Peter Schiff has been predicting all along that any expectation that the Fed will raise rates should be taken with a hefty grain of salt.

Fed Up Friday

POSTED ON August 11, 2016  - POSTED IN Key Gold Headlines

The price of gold is up 26% for the year so far. Overall, the price increase is beginning to change investor portfolios, as more people consider buying gold and other precious metals. However, the hike in gold prices is also starting to influence governments and cultures all over the world, from Japan scouring the ocean floor for gold to Egypt changing its long-held marriage rites.

two gold wedding rings

POSTED ON August 10, 2016  - POSTED IN Key Gold Headlines

Unlike re-printable fiat currency, gold is money because there is a finite amount of it. The Fed can’t produce more gold whenever it wants. For this reason, gold has functioned as a barter and wealth preservation system for thousands of years. But how much gold is left in the earth?  What will happen to the price when exploration stops or is limited?

man mining

POSTED ON August 9, 2016  - POSTED IN Key Gold Headlines

Despite the better than expected non-farm payroll reported, many are skeptical of the 255,000 “created” jobs the Bureau of Labor Statistics (BLS) reported last Friday. In a CNBC interview, Dennis Gartman, Founder, Editor and Publisher of The Gartman Letter, expressed some doubt on how well these reports gauge the health of a growing US economy.

We have to remember however that there were two things that I think need to be discussed. One is that a great good deal of this increase was because of the birth/death adjustment as they call it, which added about 85,000 payroll jobs to the number.”

Circling jobs in newspaper classifieds

POSTED ON August 8, 2016  - POSTED IN Key Gold Headlines

Lately, there’s so much gold stockpiled by governments and investors, someone should pitch a new reality TV show called Gold Hoarders. But rather than poor agoraphobics maddeningly piling up old newspapers and canned food, the show would feature smart individuals like Bill Gross who have the foresight to see the writing on the wall. The message is simple, “Look out for a collapsed dollar and low-yielding assets.”

Bill Gross is all straight talk when it comes to his preference for precious metals investment. “I don’t like bonds; I don’t like most stocks; I don’t like private equity,” the Janus Capital portfolio manager told investors this week.

What’s his reasoning? It’s pretty straightforward. Central banking policy has eliminated a healthy, open market atmosphere where high-yield opportunities are no longer readily available.

POSTED ON August 5, 2016  - POSTED IN Key Gold Headlines

Your weekly dose of the Fed’s latest antics.

Bank of England Slashes Rates, Gold Surges Forward

It’s important to remember that it’s not just the US Federal Reserve that launches the price of gold upwards with every misguided decision. As we predicted on Wednesday, the Bank of England dropped their interest rate to record lows in order to combat their struggling post-Brexit economy. The main result for the precious yellow metal was nearly a half-point surge in value overnight, bringing it closer to the $1,400 mark.

Fed Up Friday

POSTED ON August 4, 2016  - POSTED IN Key Gold Headlines

At Freedom Fest last month, Peter Schiff appeared on AMTV discussing how the Fed’s monetary policy has created an impending economic crisis to rival the 2008 housing crisis.

“The problems were created by the Fed,” he states. “They were created by monetary policy being too loose. Rates were too low when they were at 1%. That’s what inflated the housing bubble. But by keeping them at zero for seven years, the damage the Fed has done to the economy this time is much greater than what was done prior. So, I think we’re headed for a much worse economic crisis than what we went through in 2008”

POSTED ON August 4, 2016  - POSTED IN Videos

company-fabian-gambinoThis article was submitted by Fabian Gambino, senior precious metals specialist and director of technology. Any views expressed are his own and do not necessarily reflect the views of Peter Schiff.

The Bureau of Economic Analysis (BEA) released its estimate for the second quarter of 2016. After a weak showing in the first quarter, many pundits predicted strong economic growth for April, May, and June. However, the reality was a modest 1.2% growth to GDP. In this month’s Schiff Report, Peter explains how these numbers could affect gold stocks and precious metals.

POSTED ON August 3, 2016  - POSTED IN Key Gold Headlines

On Thursday, the Bank of England will meet to decide on an interest rate cut. It’s widely expected by economic officials that the UK’s central bank will cut rates 25 basis points, from .50% to .25%. What will this mean for a country already reeling from the economic crunch post Brexit?

man hitting a piggy bank with a hammerA rate decrease will prove to mark a historic low. According to International Business Times:

The BoE has kept interest rates at a historic low for the last seven years and the expected cut would bring the benchmark into uncharted territory. When Britain’s central bank cut the benchmark to 0.5% in 2009, the lowest since the BoE was founded in 1694, it described the figure as an ‘emergency rate’ and for the past seven years savers, institutions, fund managers, and economists have believed a rate rise was just around the corner.”

Few anticipate a rate lowering to zero or even negative levels; however, it’s still not out of the question. Other central banks, including Danmarks Nationalbank, the European Central Bank, Sveriges Riksbank, the Swiss National Bank, and Bank of Japan, have all cut rates to or below zero over the last few years.

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