They say perception is reality. Based on the October CPI data, the perception is inflation has peaked. But what’s the reality? In this episode of the Friday Gold Wrap podcast, host Mike Maharrey digs into the CPI data along with the markets’ reaction to it and wonders if the inflation victory dance is a little premature. He also talks about the big rally in gold and central bank gold buying.
The third quarter GDP data came out this week and it looks like the recession is over. (If there ever was one.) But in this episode of the Friday Gold Wrap podcast, host Mike Maharrey digs into the data and says, “Not so fast!” He also talks about a mainstream economist who sounds a lot like Peter Schiff and a big problem brewing with diesel fuel.
The world loves dollars. Whenever there is a problem, people flock to the dollar as a safe haven. But the US has problems of its own. In a podcast, Peter Schiff said America’s problems will eventually catch up to the dollar and at that point, the greenback will crash.
A bill introduced in the US House would put the American financial system back on a gold standard.
There are a number of factors that have weighed on precious metals, but as the World Gold Council points out, it’s important to put gold and silver’s recent price movements in a broader perspective.
In fact, gold has been one of the better-performing asset classes in 2022.
The dollar index is at 20-year highs. This has led to talk of the dollar getting “too strong,” even as some worry that a “post-dollar” world could be on the horizon.
What explains this dichotomy?
In a nutshell, it’s not so much that the dollar is “strong.” It’s just the cleanest dirty shirt in the laundry basket.
The European Central Bank (ECB) raised interest rates another 75 basis points last week. In his podcast, Peter Schiff explained how the ECB inflation fight could create big problems for the Federal Reserve and the US dollar.
The dollar index recently hit a 20-year high, so this might seem to be an odd time to talk about a dollar decline. But Rockefeller Institute Chairman and Financial Times columnist Ruchir Sharma recently wrote an article arguing that a post-dollar world is coming.