An audacious communications campaign from Democrats in Washington is currently underway that is attempting to convince the public that:
Over the last several months, you may have noticed a new series of articles with a data-driven focus here at SchiffGold. In this Metal Exchange interview, host Mike Maharrey talks to the man behind those posts.
Mike and Tony dig into the ins and outs of technical, data-driven analysis and how it can expand our understanding of the gold and silver markets.
Money Supply growth was positive in July at $42B but sits well below the $161B seen last year. As the chart below shows, Money Supply growth has collapsed since February. Last year started with 5 straight months above $200B whereas 2022 has only seen one month above $100B and that was January.
President Biden is expected to announce student loan forgiveness on Wednesday (Aug. 24). The plan will reportedly cancel $10,000 in student loan debt for anybody making less than $125,000 per year.
A lot of people think this is like waving a magic wand — poof — the debt is gone. But somebody has to pay and that somebody is the American taxpayer.
In yet another sign the economy is tanking, private-sector business activity contracted for the second straight month in August.
The S&P Global flash composite purchasing managers index (PMI) dropped to 45 this month from a reading of 47.3 in July. A print below 50 indicates a contraction in economic activity.
The tanking housing market is starting to put a strain on the mortgage industry with some lenders already going out of business. Analysts project the wave of failures coming down the pike could be the worst since the housing bubble burst and triggered the Great Recession.
The central bankers at the Federal Reserve continue to talk tough about fighting inflation. But is it a fight they can win?
The numbers say no.
The so-called “Inflation Reduction Act” is another Washington DC lie. It won’t do anything to reduce inflation. In fact, it will do the exact opposite. Instead, they should have named it the “Liberty Reduction Act,” because that’s what 87,000 new IRS agents funded by this spending bill will do.
Yes, the tax man cometh. And he won’t just be coming for billionaires.
The four-week win streak in stocks came to an end last week with all of the major indexes down significantly on Friday. As Peter explained in his podcast, it appears the markets are coming to terms with the fact the Powell Pivot may not come as quickly as anticipated. That means interest rates may go higher as the inflation fight continues. But Peter says the markets still don’t get the big picture. The Fed can’t win this inflation fight without wrecking the bubble economy.
The price analysis last month concluded that the market might have seen capitulation. It suggested the FOMC and GDP could spark a short squeeze based on the overly bearish COTs report. While gold rebounded strongly, it ran into stiff resistance and more hawkish talk by the Fed. With a large pullback from recent highs, is gold about to fall through another floor, or is it building support within the old range of $1750-$1800 where it was trapped for months?
