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Two days before Christmas in 1913, Woodrow Wilson gave the United States a Christmas gift that keeps taking. On that day, he signed the Federal Reserve Act into law, creating the US central bank. Since that inauspicious day, the US dollar has lost 96% of its value.
What’s going on with US banks? Over the last month, loans outstanding in the Federal Reserve bank bailout program increased by $17.24 billion. It was the second month we’ve seen borrowing from the Bank Term Funding Program (BTFP) surge. And the pace of borrowing is increasing.
Would you rather have silver and gold? Or would you rather have peppermint? You might be under the impression Yukon Cornelius of Rudolph the Red Nose Reindeer fame was after riches of silver and gold. He wasn’t. I mean, I hate to mess with your Christmas memories, but facts are facts.
US stocks surged with the promise of interest rate cuts. Then stocks tanked when some Fed officials tried to walk that promise back. Then they surged again when some weak economic data put rate cuts back on the table. As Friday Gold Wrap host Mike Maharrey put it, easy money is one heck of a […]
Bills filed in the Oklahoma and Missouri legislatures for the 2024 legislative session would eliminate state capital gains taxes on the sale of gold and silver. The legislation would also take other steps to treat gold and silver as money instead of as commodities.
The US stock market had a potentially significant day on Wednesday. Markets have been rallying on the hope of interest rate cuts in the near future. But Fed officials have been trying to walk back those expectations. Did the central bankers manage to steal the Santa Claus rally? In his podcast, Peter Schiff talks about […]
The Federal Reserve and the US government create inflation and then blame everybody else. President Joe Biden recently finger-pointed at “greedy corporations,” saying they need to “lower prices” now that inflation come down. Whether he is really that ignorant or just lying, Biden’s comments serve a purpose. As Ron Paul put it, they gaslight the […]
The Bank of Tanzania plans to buy 12 tons of gold during the fiscal year in an effort to boost its foreign exchange reserves. The East African nation joins a growing number of central banks turning to gold.
The Federal Reserve recently surrendered in its inflation fight. But price inflation is nowhere near the 2% target. Why did the Fed raise the white flag prematurely? One of the major reasons is debt. The world is buried under record debt levels and the global economy can’t function in a high interest rate environment.
Peter Schiff recently appeared on Real America with Dan Ball to talk about the state of the US economy. He described it as a disaster and said Bidenomics consists of putting lipstick on a pig.
