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Wal-Mart announced yesterday that it is going to raise its minimum wage to $9 an hour, which will affect a half-million employees. Many are praising the company and saying this will improve the lives of low-wage workers, while also providing a boost to the American economy. However, Peter Schiff isn’t so optimistic. He explained to […]
In his new Gold Videocast, Peter Schiff explained how Obamacare has created a “job-sharing” economy that is skewing the government’s employment data. As he put it: Obamacare forces employers to provide insurance for full-time employees. As a result, employers are hiring more part-time workers than they normally would and that is substantially influencing these numbers… […]
The dollar dropped while gold rose early this morning as the markets reacted to the release of the Federal Reserve’s minutes from its January meeting. The minutes show that Fed officials are more worried about raising interest rates than most of the markets thought. In fact, there was even talk of easing their monetary policy […]
Jim Rickards, author of Currency Wars, describes a game he plays with audiences when he speaks about gold and paper money. He presents to them US dollars, Monopoly money, and a gold coin. Then he asks, “Which of these is not like the other?” Ivy League professors nearly always rationalize that the dollars are different, […]
Last week, Peter Hug said that about 25% of all physical gold buyers are “crazies.” The comment is remarkable, because Hug is an executive at Kitco, one of the largest precious metals dealers in North America. In fact, Hug is the Director of Kitco’s Precious Metals Division. Hug’s reasoning is that a lot of the […]
Gold surged more than 10% in January, but lost a lot of ground on news of continued strong jobs growth. Peter argues that Obamacare is skewing the employment data. To avoid the additional costs of full-time employees, businesses are cutting workers to part-time hours while hiring additional staff. But “job sharing” is a double-edged sword […]
RT asked Marc Faber why he invests in physical gold. Faber emphasized that nobody should put all of their assets into physical precious metals. However, if investors want to protect themselves from the volatile bubbles created by the Federal Reserve since the late 1990s, then gold and silver are essential assets. Precious metals are Faber’s […]
Analysts are expecting Indian Prime Minister Narendra Modi to cut the huge 10% gold import tax in his budget proposal at the end of February. Late last year, India scrapped its import rule that required 20% of all gold imports to be reexported. Premiums, and consequently smuggling, have both dropped since then. If Modi were […]
Europeans bought a lot more gold in January. Investors turned to the yellow metal to protect themselves economic turmoil that could result from Greece leaving the eurozone and the oncoming wave of European quantitative easing. The price of gold in euros has already risen 9% in 2015, putting it at a 21-month high. Europeans are […]
Switzerland didn’t start the currency war, but last month it was the first to surrender by cutting the Swiss franc’s ties to a foundering euro. The euro plummeted on the news, while the franc soared. How much longer before the euro completely sinks under the weight of sovereign debts and a flood of quantitative easing?
