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POSTED ON December 21, 2020  - POSTED IN Key Gold Headlines

The money supply grew by 37.08% year-on-year in November based on the True Money Supply Measure (TMS). It was effectively the same rate of growth we saw in October and remains near September’s all-time high rate of growth.

The staggering growth in the money supply becomes more clear when you compare this year with last. TMS growth in November 2019 was just 5.9%.

POSTED ON December 21, 2020  - POSTED IN Peter's Podcast

The big story last week was the dollar’s slow meltdown. The dollar index broke below 90 for the first time since the spring of 2018.

The financial media hasn’t ignored the dollar weakness, but Peter said they don’t seem to grasp the significance of what’s going on, nor do they realize how much further the dollar has to fall. In fact, a lot of the talk has focused on the positives of dollar weakness. In his podcast, Peter argues this growing dollar weakness is not America’s win.

POSTED ON December 18, 2020  - POSTED IN Friday Gold Wrap

The Federal Reserve held its last meeting of the year this week. There were no big surprises policy-wise. But Jerome Powell and company made it clear that the easy-money spigot will remain wide open pumping trillions of dollars created out of thin air into the economy. In this episode of the Friday Gold Wrap podcast, Mike Maharrey talks about the Fed meeting and the ramifications of its monetary policy.

POSTED ON December 17, 2020  - POSTED IN Peter's Podcast

In its last meeting of 2020, the Federal Reserve made it clear the easy-money spigot will remain wide open into the foreseeable future. During his post-meeting press conference, Federal Reserve Chairman Jerome Powell seemed clueless about the ramifications of this policy – particularly the impact of inflation. Peter Schiff talked about the Fed meeting and Powell’s comments in his podcast, saying Powell’s ignorance won’t be bliss.

POSTED ON December 16, 2020  - POSTED IN Key Gold Headlines

Three bills prefiled in the South Carolina House would cut taxes on precious metals and take important steps toward treating gold and silver as money instead of as commodities. Passage of these bills would also set the stage to undermine the Federal Reserve’s monopoly on money.

South Carolina is the first state to propose this kind of legislation for the 2021 session, but more states will likely follow suit. This is part of a broader movement at the state level to support sound money.

POSTED ON December 16, 2020  - POSTED IN Key Gold Headlines

Coronavirus vaccines began rolling out this week, boosting optimism that the economy will soon rebound. But as Peter Schiff said in a podcast last month, there is no vaccine for what ails the economy. Even if the vaccine proves effective and governments ease off the draconian policies they have implemented in response to the pandemic, governments and central banks will have to continue stimulus programs and loose monetary policies. That’s good for gold.

Commerzbank sees things the same way, projecting gold’s bull run will continue through 2021 with the yellow metal rising to $2,300 by Q4.

POSTED ON December 15, 2020  - POSTED IN Key Gold Headlines

It appears the government lockdowns in response to the COVID-19 pandemic has hastened the deflation of the commercial real estate bubble.

According to CoStar Group, an estimated $126 billion in commercial real estate will be forced to sell at distressed prices over the next two years. That will eclipse the amount of distressed commercial property sold during the first two years after the 2008 financial crisis.

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