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POSTED ON March 9, 2016  - POSTED IN Original Analysis

company-addison-qualeThis article was submitted by Addison Quale, SchiffGold Precious Metals Specialist. Any views expressed are his own and do not necessarily reflect the views of Peter Schiff or SchiffGold.

With apologies to Freddy Mercury and Queen, it looks like another one has just bit the dust.

You can now add the Japanese central bank to the list of banks that have ventured deep into negative interest rate territory with the sale of a negative rate bond.

japanese bond

The Swiss are already languishing in that territory with negative rates out on their 20 year bond – if you can believe it. Steve Barrow, a G10 strategist at Standard Bank tells us that there will be others soon enough. He contends that, “Germany will get there as well, and yields will continue falling, going negative where they aren’t negative.”

POSTED ON March 9, 2016  - POSTED IN Data Dependent Series, Key Gold Headlines

No matter what kind of negative economic data comes out, President Obama, central bankers, and media analysts gloss over it and point to the “great” jobs numbers as evidence the US economy is doing well. But in reality, it’s all smoke and mirrors.

unemployed

Last Friday, the media reported “better than expected” labor numbers with more than 200,000 jobs added in February and a low 4.9% unemployment. But as Peter Schiff pointed out in his Schiff Report video blog over the weekend, it was really a terrible jobs report.

The reports are only good superficially. Once you look beneath the surface, and believe me, it’s a very thin layer, you find out how meaningless the numbers are.”

Despite the added jobs, average hourly earnings dropped. Analysts expected the number to rise 0.2%. Instead, hourly earnings dropped 0.1. On top of that, hours worked fell from 34.6 hours to 34.4. Looking at the data together shows weekly earnings fell 0.7%. That represents the biggest drop in weekly earnings ever.

POSTED ON March 8, 2016  - POSTED IN Original Analysis

company-dickson-buchananThis article was written by Dickson Buchanan, SchiffGold Precious Metals Specialist. Any views expressed are his own and do not necessarily reflect the views of Peter Schiff or SchiffGold.

Money is not a collector item, and buyers should beware of Scammers trying push buyback guarantee contracts on customers for products they should never be considering in the first place.

Despite our efforts to reveal the most common gold scams, there always seems to be a new trick up the gold scammer’ sleeves. At this time, we are hearing about a lot of companies offering special buyback guarantees or special contracts that “ensure” clients a buyback price on the products they are selling.

At first glance, this is all sounds good. Who doesn’t want the added security of a contractual agreement to buy back a certain product at a later date? However, upon closer inspection, such an agreement is a proverbial wolf in sheep’s clothing.

POSTED ON March 8, 2016  - POSTED IN Interviews

Peter Schiff did an interview with Rick Wiles of TRUNEWS on Monday and said $5,000 gold is coming.

gold ingots

Peter reiterated his belief that the economy is already in a recession, and Fed will drop rates back to zero. After that, he said the central bank will initiate another round of quantitative easing. He made his case by explaining how the jobs numbers aren’t nearly as good as the government spin-doctors are saying, pointing out evidence of looming stagflation ahead, and making a compelling case that another real estate crash is likely in the near-future.

With a meltdown on the horizon, Peter said he still believes $5,000 gold is coming.

[Gold is] getting close now to $1,300 per ounce, and I think that’s going to be a key level. Once we get above there I think it could be a pretty quick shot up to $1,500 to $2,000. The high from 2012 was about $1,900. I think we’re going to take that out by next year. I still think $5,000 gold is coming.”

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

The world’s largest asset manager has temporarily suspended the creation of new shares of its gold ETF due to the demand for physical gold.

BlackRock announced it would temporarily stop issuing new shares of Gold Trust (IAU) on Friday:

Since the start of 2016, in response to global macroeconomic conditions, demand for gold and for IAU has surged among global investors. IAU has $8 billion in assets under management, and has expanded $1.4 billion year to date. February marked its largest creation activity in the last decade. This surge in demand has led to the temporary exhaustion of IAU shares currently registered under the ’33 Act.”

gold etf

As ZeroHedge pointed out, this is an ominous sign.

It appears the huge demand for physical gold (and lack of supply) is finally catching up with the manipulation of paper prices. If this is anything other than a brief technical suspension, it could well unleash panic-buying as we already pointed out – there is no physical gold.”

POSTED ON March 4, 2016  - POSTED IN Data Dependent Series, Key Gold Headlines

Media and government officials keep telling us the economy looks great, but a peek behind the curtain tells a different story.

White-House-GDP-2

Some people do see the writing on the wall. Peter Schiff has been saying the US may well have already entered a recession. Last month, Jim Grant echoed Peter, saying the US economy likely went into recession in December 2015. And in a recent interview, Rogers Holdings Chairman Jim Rogers said there is a 100% probability the US will be in a downturn within a year:

It’s been seven years, eight years since we had the last recession in the US, and normally, historically we have them every four to seven years for whatever reason—at least we always have. It doesn’t have to happen in four to seven years, but look at the debt, the debt is staggering.”

POSTED ON March 3, 2016  - POSTED IN Original Analysis

company-addison-qualeThis article was submitted by Addison Quale, SchiffGold Precious Metals Specialist. Any views expressed are his own and do not necessarily reflect the views of Peter Schiff or SchiffGold.

Perhaps you saw the recent article about home safes selling out in Japan. This is an unintended consequence of the Japanese central bank’s negative interest rate policy. People are starting to pull their paper cash out of the banks. They are withdrawing all they can and buying personal safes to horde currency at home. The reasoning is, of course, why leave your cash in the risky banking system when you get zero return from it sitting there? In truth, Japanese banks are slowly sucking their depositors’ wealth away – charging them for the right to lend them money.

Interest rates have been falling for 30 years here in the US and this trend shows no signs of abating. To wit, Janet Yellen and the Fed recently raised the federal funds rate in December. Since then interest rates have still fallen lower.  These continuously falling interest rates are a clear indicator that our monetary system is collapsing. In fact, negative rates may well be right around the corner in the US.

As many of you are already aware, fiat currencies don’t last forever. They are essentially glorified pyramid schemes of government debt. As respected as the US dollar is in the world today, it is no different. It too will collapse, just as every other fiat currency has.

The good news is that people can, to a great extent, protect themselves from this deception and the theft of their money by “opting out” of the fiat currency system. The way to accomplish this is by owning real money: physical gold and silver.

POSTED ON March 2, 2016  - POSTED IN Interviews, Original Analysis, Videos

In his most recent Gold Videocast for SchiffGold, Albert K Lu interviewed John Rubino, founder of DollarCollapse.com. Rubino had a pretty compelling explanation for why there wasn’t a massive, sustained economic collapse a decade ago, and why he thinks it’s still lurking on the horizon.

The reason that we’re still here, when we really should have fallen apart based on how much debt there was out there, and various other measures of instability, is that a printing press has turned out to be a great tool for fooling people.”

Rubino pointed out that this is the first time in human history that all of the world’s governments are armed with a basically unlimited fiat currency printing press. The ability to create money out of thin air has allowed governments to take on more debt than anybody imagined feasible. Rubino noted that economists 20 years ago couldn’t have imagined $7 trillion of bonds trading at negative interest rates, and global debt at 300% of global GDP, but that’s where we are today. He went on to explain how the entire world pitched in to help the Federal Reserve keep things limping along after the 2008 meltdown. For instance, post 2009, China borrowed more money than any country has ever borrowed in history.

Rubino said there’s no way to know when the economy will hit the wall, but it will likely be pretty soon. At some point central banks and governments will run out of the ability to borrow and print, and they will have to start living within their means again.

According to Rubino, It’s going to be a painful transition. So, what does this mean for gold? Lu and Rubino share their insights.

POSTED ON March 1, 2016  - POSTED IN Original Analysis

Joel BaumanThis article was submitted by Joel Bauman, SchiffGold Precious Metals Specialist. Any views expressed are his own and do not necessarily reflect the views of Peter Schiff or SchiffGold.

In the last few decades, we have seen an international trend towards a “cashless world.” Physical currency is becoming relatively scarce and the world’s money supply is made up of almost entirely electronic funds. Governments and banks are waging a war on cash and you don’t want to become a victim.

According to the Federal Reserve, in July of 2013, the total amount of physical currency in the world equaled $1.2 trillion, most of it held outside the United States. This accounted for a mere 7.7% of the total $15.5 trillion money supply. (Cash, checking/savings accounts, money market accounts, stocks and bonds) The percentage of physical cash in relation to electronic funds has been steadily decreasing over the last 50 years.

Interestingly, even with the diminishing purchasing power of the US dollar, the face value of Federal Reserve notes has also been decreasing. Today the highest denomination produced by the Federal Reserve is the one hundred dollar note. US currency used to include denominations of $500, $1,000, $5,000, and even $10,000. In 1969, the Federal Reserve began taking these higher denominations out of circulation. Recently, a former US Treasury Secretary floated the idea of doing away with the $100 bill as well.

POSTED ON February 29, 2016  - POSTED IN Key Gold Headlines

Just a few months ago, mainstream analysts were calling gold a “barbaric relic.” Now all of a sudden, they are saying, “Buy gold!”

Last Friday, Deutsche Bank issued a note asserting that with emerging economic risks and market turmoil, signs point in gold’s favor:

There are rising stresses in the global financial system…Buying some gold as ‘insurance’ is warranted.”

gold rally

Deutsche Bank isn’t alone in singing gold’s praises. A Bloomberg report crowned gold “the biggest winner of 2016,” noting it’s posted 15% gains so far in 2016:

Turmoil across global equity and currency markets has sparked demand for a haven. Speculators raised their net-long position in gold to the highest in a year.”

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