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POSTED ON July 12, 2016  - POSTED IN Interviews, Videos

An old dog may not be able to learn new tricks, but he can apparently rediscover those that are long forgotten.

In a recent interview with Bloomberg, former Federal Reserve chairman Alan Greenspan warned of impending inflation.

His prescription?

A return to a gold standard.

Greenspan noted that growth in productivity has ground to a halt in the US. He described the current economic malaise as stagnation. Greenspan pointed out that the money supply measured by M2 is steadily increasing and has tilted up in the last several months. This is a leading indicator of inflation:

The thing that we should be worrying about now, which we have actually given no thought to whatsoever, is that this type of economic environment ends with inflation. Historically fiat money has always ended up that way.”

POSTED ON July 12, 2016  - POSTED IN Interviews, Videos

Peter Schiff recently appeared on Info Wars with Alex Jones and offered a dire warning:

The world sits atop a house of cards erected by central banks…unfortunately it’s not going to end well for most people.”

Peter said the aftermath of Brexit shows just how fragile the world financial system is, pointing out that in a healthy economy Brexit wouldn’t really matter. But we don’t have a healthy economy and the post-Brexit turmoil is a sign of things to come:

More and more people, mainstream people…now realize that this is the ninth inning of this thing – this whole experiment with Keynesianism and fiat money. It is very, very late in the game. Time is running out. The clock has been ticking and ticking and it’s going to stop. The day of reckoning is getting closer.”

So, what lies ahead? Peter reiterated a prediction he made on CNBC last month – the Fed will sacrifice the dollar on the altar of the stock market, we are rapidly heading toward a currency crisis, and we can expect more Federal Reserve intervention:

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

The June jobs report with its 287,000 new jobs lifted both spirits and markets drug down by the recent Brexit vote and other economic bad news. But the oft-reported numbers – jobs added and the unemployment rate – obscure the truth. In fact, the “real” unemployment rate remains above pre-recession levels.

underemp;pyed

As Peter Schiff pointed out in his most recent podcast, the numbers buried in the numbers tell a different story – a jobs market still struggling mightily even though the mainstream is in celebratory mode:

Overall, a mixed picture, but the headline number, the 287 versus 180 consensus, that’s normally the number the market trades off and that is exactly what happened.”

POSTED ON July 11, 2016  - POSTED IN Key Gold Headlines, Videos

In a recent episode of the Santilli Exchange, Pete Santilli talked with Hoover Institution Fellow Tim Kane about the June jobs report and the overall state of the US economy.

Despite all of the giddiness about the recent jump in the number of jobs created, Kane said this jobs report wasn’t as positive as advertised:

The thing that really shocked me was if we compare this year to last year, 850,000 people are not in the labor force. You have unemployed, you have employed, and you have people who are not in the labor force. That’s gone up. It’s not a good report.”

Kane went on to discuss the overall performance of the US economy in light of recent Hoover Institution research showing that the recovery after each subsequent recession is getting weaker and weaker. He pointed out that we should be in boom right now. But as Peter Schiff has put it, we are actually in a “phony recovery.

POSTED ON July 9, 2016  - POSTED IN Original Analysis

SchiffGold is excited to announce that we will be merging with GoldMoney (formerly Bitgold), a rapidly growing financial technology company that offers a diverse variety of gold-based products. By combining forces, Peter Schiff will be joining the likes of well-known gold experts, James Turk and Eric Sprott.

This joint venture will enhance the services SchiffGold can offer our customers and the reach we will have on the global market. Our formula will stay the same – SchiffGold will continue providing personal service to our customers, expert 1-on-1 guidance, and among the lowest pricing for physical gold and silver in the industry.

The GoldMoney/SchiffGold team share a like-minded passion for gold and offering the highest quality services to our customers. With the help of our existing and future customers, we look forward to re-introducing gold into the modern-day-world.

In this video Peter Schiff explains the details of the merger and touches on the exciting enhancements of GoldMoney’s offerings. Peter Schiff speaks with GoldMoney’s co-founder and commodity king Josh Crumb. This fun and highly educational video is a must watch!

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

The week began with a surge in the price of silver, giving the white metal its biggest two-day gain since 2011. Now this morning, Bank of America Merrill Lynch reported the largest one-week inflow into precious metals funds on record – $4.1 billion in the week ending Wednesday.

pm inflows

The combination of the Brexit and the realization that the Federal Reserve isn’t going to continue raising interest rates has investors scrambling for safe havens. With gold and silver suddenly returning to the limelight, Bank of America Merrill Lynch is now forecasting the gold price to hit $1,500 by the end of the year.

Barry Dawes, Head of Resources for Paradigm Securities, told CNBC:

POSTED ON July 7, 2016  - POSTED IN Key Gold Headlines

In the early 1830s, an eastern Kentucky man named Josiah Sprinkle started minting his own coins and circulating them around the area. Eventually, government officials got wind of Sprinkle’s operation and arrested him. But he was ultimately found not-guilty in court.

How did a man minting his own coins escape the long arm of the law? Because his coins were pure silver. They were equal in value to the silver dollars minted by the US government. In fact, they were worth slightly more.

Yoachum Dies

This historical oddity reveals an important truth. When money was actually silver and gold, its value was intrinsic. The value came from the metal, not a promise by the issuing government. The government didn’t have to fiercely maintain its monopoly in order to protect the “value” of its fiat currency. If you had gold or silver – in whatever form – it was literally money. Josiah wasn’t doing anything wrong circulating his pure silver coins. He wasn’t ripping anybody off. His coins were worth what he promised.

A similar private coin was minted in Missouri, known as the Yocum Dollar:

POSTED ON July 7, 2016  - POSTED IN Key Gold Headlines

In May, we reported on the rising level of credit card debt in the US after the Wall Street Journal reported that credit card balances are on track to hit $1 trillion this year.

credit debt

Now we have evidence it might be even bleaker. A study released in June by CardHub reveals US consumers did worse than expected in the first quarter of 2016. And the study confirms that at this pace, by year-end, Americans will have accumulated more than $1 trillion in credit card debt.

According to the study, Americans paid off $26.8 billion in credit card charges through the first quarter. That represents just 38% of the $71 billion in debt added during 2015. It was the smallest Q1 debt reduction since 2008, falling almost 25% below the post-recession average.

There was even more bad news last month. According to a Kitco report, an increasing number of Americans can’t keep up with their payments:

POSTED ON July 6, 2016  - POSTED IN Key Gold Headlines, Videos

In the United States, Bernie Sanders has built a political movement selling the glories of Democratic Socialism. Young Americans eager for the handouts promised by Sanders have flocked to the Vermont Senator in droves.

Meanwhile, Venezuelans labor under the realities of Bernie’s economic vision.

VICE News put together a short video showing the realities of life in the socialist utopia.

Even those with cash are finding it hard to find food. Manuel Guevara wanders through grocery stores hoping to find something to eat.

Whenever I have free time, I pass by a supermarket, and I always go in to see what’s available because sometimes you find rare products, like cornflakes. Or sometimes you find nothing.”

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

In a CNBC interview last week, PureFunds CEO Andrew Chanin pointed out that a lot of people don’t really think about silver.

Well, it might be time to give the white metal a little thought.

silver bars

Silver has risen along with gold since the Brexit vote, and it went into hyper-drive Sunday. The metal rose 8.6% in the two days, peaking at over $21 an ounce for a time on Monday before falling back on profit-taking. It was the biggest two-day gain for silver since 2011.

Chinese demand was a major factor driving the silver price spike, according to Mining.com:

Silver prices hit a two-year high Monday…as the precious metal continues to gain from the safe-haven rally following the UK referendum, driven mostly by a sudden jump in Chinese demand. Asian buyers scooped up vast volumes of physical silver overnight, with the Shanghai Futures Exchange, the most actively traded silver futures contract, hitting its 6% daily maximum at opening to reach 4,419 yuan ($663) a kilogram. Precious metals have risen on anticipation of further monetary stimulus measures from central banks in the wake of the UK’s vote to leave the European Union.”

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