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POSTED ON October 2, 2015  - POSTED IN Key Gold Headlines

SchiffGold has a new tool to help you analyze the price of gold, silver, and platinum in real time. It also provides you with the detailed information you need for in-depth historical research.

schiff chart

The new SchiffGold Price Charts page features an easy to read, live table with up-to-the-minute precious metals pricing. But the tools on the page allow you to do far more than simply see current prices. Graphical charts allow you to study how the price has moved hour-by-hour, month-by-month or year-by-year, over time. Bookmark this page in your web browser so you always know exactly where to find the current price of all the precious metals.

POSTED ON October 1, 2015  - POSTED IN Key Gold Headlines

The Federal Reserve Bank of Atlanta’s GDPNow estimate released today reveals a terrible early forecast for third quarter gross domestic product (GDP) growth. It’s especially bad when compared to Wall Street expectations.

The GDPNow model puts Q3 2015 GDP growth at 0.9% – that’s a 50% drop from just three days ago. The Atlanta Fed explains:

The model’s nowcast for the contribution of net exports to third-quarter real GDP growth fell 0.7 percentage points to -0.9 percentage points on September 29 following the advance report on U.S. international trade in goods from the U.S. Census Bureau.”

What’s most telling about this report is how different the GDPNow forecast is from the “Blue Chip consensus,” which is the expectations of mainstream business economists followed by Wall Street. Check out this chart:

15 10 01 GDP Now Forecast

POSTED ON October 1, 2015  - POSTED IN Guest Commentaries, Interviews, Videos

Just hours before Congress passed a funding bill last night, David Stockman appeared on CNBC to explain why the United States needs to experience a dramatic government shutdown. He argues, like Peter Schiff, that US debt is a massive bubble waiting to burst. Though one of the CNBC anchors agreed with him, another argued that the US debt load is very manageable. They also disputed his claim that the Federal Reserve is the main culprit behind America’s “fiscal paralysis.”

[The debt load] is not manageable at all, because thanks to Yellen and her merry band of money printers, we are not paying the true cost of the debt. This year, it’s $230 billion on $13 trillion of public [debt]. That’s 1.75%. That’s ridiculous. When it normalizes – which it will someday – we’ll be paying $400-500 billion more at a minimum. So I blame the Fed. The Fed is the number one culprit in this whole fiscal paralysis, because it’s told all the politicians, ‘You can kick the can, you can dodge the bullet.’”

POSTED ON October 1, 2015  - POSTED IN Key Gold Headlines

The demand for physical silver is absolutely through the roof.

The mainstream media has finally caught up with a story we began reporting on back in July. Yesterday, Reuters reported booming worldwide demand for silver coins:

The global silver-coin market is in the grips of an unprecedented supply squeeze, forcing some mints to ration sales and step up overtime while sending U.S. buyers racing abroad to fulfill a sudden surge in demand. The U.S. Mint began setting weekly sales quotas for its flagship American Eagle silver coins in July because it can’t meet demand, and the Canadian mint followed suit after record monthly sales in July. In Australia, the Perth Mint sold a record of more than 2.5 million ounces of silver this month, nearly four times more than in August, and has begun rationing supply of a new line of coins this month, a mint official said.”

POSTED ON October 1, 2015  - POSTED IN Key Gold Headlines

Investors have withdrawn a record amount of gold from the Shanghai Gold Exchange over the past year, signaling a steady increase in demand in the world’s largest gold consuming country.

Bloomberg reported the most recent numbers:

Withdrawals jumped 37% to 1,891.9 metric tons through Sept. 18 from 1,380.9 tons a year earlier, according to data on the bourse website. Trading increased 150% in the first eight months, said Liu Liang, a spokesman for the exchange, the world’s largest spot bullion market.”

shanghai

POSTED ON September 30, 2015  - POSTED IN Data Dependent Series, Key Gold Headlines

Every week, various government agencies trot out economic facts and figures, and every week, the media breathlessly reports the “good news.” Here is some of the news beyond the news reported by the mainstream media over the last week.

As USA Today reported, consumer spending and personal income rose last month. But while Commerce Department numbers show healthy gains in consumer spending (0.4% in August), a Gallup poll asking actual people about their spending indicates a continual decline. According to the poll, daily spending averaged just $89 in August, down from the same time period in both 2014 and 2013. It was the fourth month in a row the poll indicated a year-on-year decline. Spending was at its lowest since March, based on the poll.

income growth

POSTED ON September 30, 2015  - POSTED IN Original Analysis, Videos

Following up on his recent arguments with Scott Nations on CNBC (watch them here and here), Peter Schiff compiled a new collection of his 2006 warnings of a housing crash. The parallels between then and now are striking. Just as financial news anchors laughed at Peter in 2006 when he predicted what would become the Great Recession, they are now chiding him for suggesting the Federal Reserve is pushing the United States into a new recession.

We argued about interest rates and whether or not the Fed was about to raise them. Scott’s position was that it was a virtual lock that the Federal Reserve was going to raise interest rates before the end of the year. They’d probably go in September, but certainly by December. My position was that the Fed was not going to raise interest rates at all in 2015, and in fact they may actually do quantitative easing 4 in 2016…”

POSTED ON September 30, 2015  - POSTED IN Key Gold Headlines, Original Analysis

Physical silver and gold isn’t just for preserving your savings. It’s also the world’s oldest form of money.

You can bypass the Federal Reserve’s worthless paper dollars by spending precious metals with friends, neighbors, and businesses which accept sound money. We’ve created a brand new Barter Metals page with all of the information you need to get started conducting business using physical gold and silver – and links to our most popular barterable products.

SchiffBarterBag

Barter may seem outdated, but as Peter Schiff points out, it has a long history in the US:

POSTED ON September 29, 2015  - POSTED IN Guest Commentaries, Interviews, Videos

USAWatchdog interviewed Nomi Prins, who formerly worked as a managing director at both Goldman-Sachs and Lehman Brothers. She is the author of All the President’s Bankers and a vocal critic of central bank monetary policies. Prins agrees with Peter Schiff that more quantitative easing will come from the Federal Reserve, however, she doesn’t think they will call it that. She believes the easy money may come in the form of currency swaps between central banks.

More importantly, Prins believes that eventually the financial problems in America will become so great that normal US depositors will be forced to “bail-in” the banks one way or another, if they want to keep money in standard accounts. That’s why she recommends holding cash and buying physical gold.

POSTED ON September 29, 2015  - POSTED IN Key Gold Headlines

India will soon have its own national gold coins.

Metals and Minerals Trading Corporation (MMTC) will manufacture and market the gold coins, set for release in October.

According to the Times of India, MMTC managing director Ved Prakash said the company plans to produce two gold coins, one weighing 5 grams and the other 10. The coins will feature engravings of Ashok Chakra and the face of Mahatma Gandhi.

india gold counter

While many countries have their national coins, India did not have one. These gold coins will be regarded as the national coin of India.”

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