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POSTED ON May 13, 2022  - POSTED IN Friday Gold Wrap

When we got the March CPI data last month, the mainstream crooned that it looked like we were at peak inflation. This was wishful thinking. The April CPI data that came out this week, along with the producer price numbers, indicate that we’re still climbing that inflation mountain. In this episode of the Friday Gold Wrap podcast, host Mike Maharrey digs into the data and discusses how it could impact the trajectory of Fed monetary policy and the economy.

POSTED ON May 12, 2022  - POSTED IN Original Analysis

The March Consumer Price Index (CPI) was 8.5% annually, the highest since December 1981. But the mainstream narrative was that inflation had probably peaked because core inflation, stripping out more volatile food and energy, “only” rose by 0.3%.  Mainstream pundits reasoned that the oil shock in the wake of Russia’s invasion of Ukraine primarily drove the huge 1.2% month-on-month CPI gain. And since core CPI appeared to be slowing, inflation was cooling.

The April CPI data undercuts this narrative.

POSTED ON April 21, 2022  - POSTED IN Original Analysis

Earlier this week, the yield on the 30-year Treasury rose above 3% for the first time since April 2019 as the carnage in the bond market continues.

Rising yields have put pressure on gold. The yellow metal flirted with $2,000 an ounce but has since fallen below the $1,950 resistance. Once again, investors are fixated on rising interest rates, but missing the bigger picture — real rates remain deeply negative.

POSTED ON April 17, 2022  - POSTED IN Interviews

The Consumer Price Index hit 8.5% on an annualized basis in March, the highest level since 1981. In an attempt to get ahead of what everybody knew would be bad news, the Biden administration started blaming Russia for the big CPI before the data even came out. White House press secretary Jen Psaki said, “We expect March CPI headline inflation to be extraordinarily elevated due to Putin’s price hike.” The mainstream media quickly picked up that mantra. Peter Schiff appeared on the Megyn Kelly show and explained why this is a false narrative.

POSTED ON April 15, 2022  - POSTED IN Friday Gold Wrap

We got the CPI data for March this week. As expected, prices spiked significantly again last month. A lot of people in the mainstream are calling it “Putin’s price hike.” Friday Gold Wrap host Mike Maharrey says it would be more appropriate to call it Powell’s price hike. In this episode of the podcast, he digs into the CPI data and explains why the blame for high prices is largely misplaced and inflation probably hasn’t peaked.

POSTED ON April 14, 2022  - POSTED IN Peter's Podcast

As expected, the March Consumer Price Index was smoking hot with a 1.2% month-on-month increase and an 8.5% annual gain. But the mainstream found a silver lining in the numbers. Core inflation wasn’t quite as high as expected leading many to conclude that we’ve reached “peak inflation.” In his podcast, Peter Schiff said this is just wishful thinking.

POSTED ON March 24, 2022  - POSTED IN Interviews

Peter Schiff recently appeared on Kitco News with David Lin to talk about inflation and the Fed’s attempt to get it under control. Peter said there is no getting inflation under control. It’s already worse than anybody thinks. And it’s only going to get higher.

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