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POSTED ON May 30, 2018  - POSTED IN Key Gold Headlines

Americans have loaded themselves down with debt and some are struggling to pay the bill.

Total household debt hit a record $13 trillion in 2017, eclipsing levels seen on the eve of the Great Recession. Americans have been burning up the credit cards. Revolving debt grew by $26 billion in the fourth quarter of 2017 alone, a 3.2% increase. Americans have run up a nearly $1 trillion credit card tab. Meanwhile, flows into serious delinquency have increased steadily since the third quarter of 2016.

The delinquency level for subprime credit cards is particularly concerning, having risen to a level higher than at the peak of the financial crisis.

POSTED ON May 21, 2018  - POSTED IN Videos

On May 15, Peter Schiff delivered the keynote address at the Cambridge House International Mining Investment Conference. Peter titled his speech “The Calm Before the Storm.” People are still generally optimistic about the economy, but as Peter said, everything feels great until you realize the party is over. 

POSTED ON May 16, 2018  - POSTED IN Key Gold Headlines

On Tuesday, the Dow Jones dropped nearly 200 points. Gold fell close to 2% and fell below the $1,300 mark. Meanwhile, bond prices dropped as yields on the 10-year pushed above the 3% level.

In his most recent podcast, Peter Schiff said we’re witnessing a bond breakdown as it gathers momentum.

In fact, the bond market had one of its worst days all year Tuesday.

POSTED ON May 10, 2018  - POSTED IN Interviews

As we reported earlier this month, the federal government is borrowing money at record levels. The US Treasury’s net borrowing totaled $488 billion from January through March, adding to an already enormous national debt. In fact, the entire world is drowning in debt.

When we bring this fact up, a lot of people still just shrug and say, “So what? We’ve been running up debt for years. It hasn’t really caused any problems. Why worry about it now?”

David Stockman recently appeared on the Tom Woods Show. During the interview, the former Officer of Budget and Management director under Ronald Reagan explained exactly why we should worry about it now.

POSTED ON May 9, 2018  - POSTED IN Key Gold Headlines

The US dollar has rallied over the last few weeks. The dollar index closed above 93 on May 8. This represents about a 5% increase from the low this year of just above 88. On the year, the dollar is up about 1%, although it is still off about 6% from its highs in 2016.

In his latest podcast, Peter Schiff called this a “bear market rally.”

There hasn’t been any good economic news that would explain the strength of the dollar.”

POSTED ON April 25, 2018  - POSTED IN Key Gold Headlines

Stock markets had another bad day Tuesday. The Dow Jones fell over 400 points as the 10-year Treasury yield broke through 3%. Several “marquee” companies warned of higher costs, including Google-parent Alphabet and Caterpillar.

In his latest podcast, Peter Schiff said he thinks the correction is over.

Not the downward move. That is not the correction. This is the bear market. The upward move was the correction. It was the first correction in this young bear market that technically is not a bear market yet because we’re not down 20%. But that’s only a matter of time before the people call the bear market what it is.”

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