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POSTED ON August 24, 2022  - POSTED IN Key Gold Headlines

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.

POSTED ON August 17, 2022  - POSTED IN Original Analysis

Fifty-one years ago this week, President Richard Nixon slammed shut the “gold window” and eliminated the last vestige of the gold standard.

Nixon ordered Treasury Secretary John Connally to uncouple gold from its fixed $35 price and suspended the ability of foreign banks to directly exchange dollars for gold. During a national television address, on Aug. 15, 1971, Nixon promised the action would be temporary in order to “defend the dollar against the speculators,” but this turned out to be a lie. The president’s move permanently and completely severed the dollar from gold and turned it into a pure fiat currency.

POSTED ON August 16, 2022  - POSTED IN Guest Commentaries

The CPI fell modestly in July, but prices remained near 40-year highs at 8.5%. Meanwhile, President Biden did a victory lap, and Congress passed an “Inflation Reduction Act” that will only make inflation worse.

It’s easy to look at inflation talk as political banter and wonky economic theorizing, but in fact, it hurts real people. As Brazilian economist André Marques explains, it makes us all poorer.

POSTED ON July 28, 2022  - POSTED IN Interviews

Rapidly rising prices put the squeeze on everybody’s wallets. A recent study showed that inflation is hitting rural Americans particularly hard. According to the Iowa State University report, people in rural areas now spend 91% of their income on expenses alone. Peter Schiff recently appeared on Rob Schmitt Tonight to talk about the pain of the inflation tax.

POSTED ON June 29, 2022  - POSTED IN Guest Commentaries

Ronald Reagan once said the most terrifying nine words in the English language are, “I’m from the government and I’m here to help.”

One of the biggest problems with government help is that it always comes at a cost. And the burden of that cost almost always falls on the very people that big government claims to help – the poor and middle class.

POSTED ON April 11, 2022  - POSTED IN Guest Commentaries

The annualized interest payment on the $30-plus trillion US national debt increased by over $16 billion in just six months. With the COVID crisis seemingly in the rear-view mirror, the economy allegedly strong, and the Fed raising interest rates to supposedly fight inflation, you’d think this might be a good time for the government to address its spending problem.

Nope.

POSTED ON March 8, 2022  - POSTED IN Original Analysis

Now inflation is Russia’s fault. Or is it greedy businesses pushing up prices? Maybe a combination of the two.

It seems that government officials and central bankers are looking everywhere for a place to pin the blame for inflation except the one place they need to look — in the mirror.

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