Peter Schiff recently appeared on Nino’s Corner with David Nino Rodriguez to talk about the trajectory of the economy. Peter explained why the dollar is doomed to crash and what we can do to prepare. He also emphasized that the powers that be have managed to kick the can down the road for a lot longer than he expected. But you can’t kick the can down the road forever. Eventually, you will run out of road.
As the world descends into a much-heralded recession, the surprise will be that interest rates will continue to rise as economic activity contracts. This is not what the economic establishment expects.
This article puts the outlook in the context of classical economic theory, when it was the principles behind the division of labour which went unchallenged. Adopting the theme of Say’s law, this article permits a forecast with a high degree of certainty that far from a recession leading to lower prices, lower interest rates, and therefore investor heaven, it will lead to higher prices, higher interest rates, budget deficits soaring out of control, and liquidation of the dollar by over-exposed foreign holders.
Peter Schiff recently appeared on the Capitol Report on NTD News to talk about the state of the US economy. He explained how government spending has created the price inflation Americans continue to struggle with, and how it has bankrupted the United States.
At its recent summit, the BRICS economic bloc announced it will add six new members, including Saudi Arabia. Many people believe the growing influence of BRICS could ultimately dent Western economic power and undermine the dollar’s role as the world’s reserve currency.
Many people frame the rise of BRICS as a battle between East and West, but economist Patrick Barron said it’s more fundamental than that. It’s actually a war between diametrically opposed economic ideas.
The BRICS economic bloc announced it will add six new members, including Saudi Arabia. The growing influence of BRICS could ultimately dent Western economic power and undermine the dollar’s role as the world’s reserve currency. In this episode of the Friday Gold Wrap, host Mike Maharrey talks about the ramifications of BRICS expansion, de-dollarization, and the possibility of a BRICS currency. He also talks about how silver is inexcusably low.
There is a growing consensus that the Federal Reserve can successfully slay price inflation and bring the economy to a soft landing. After all, the economy appears to be chugging along. But as Friday Gold Wrap host Mike Maharrey explains, there are a lot of things bubbling under the surface that should temper that optimism. In fact, what we’re seeing today looks a lot like 2007.
In another blow to dollar dominance, India and the United Arab Emirates settled an oil trade without converting local currencies to dollars for the first time on Monday, as India’s top refiner made a payment for oil in rupees.
Indian Oil Corp. bought a million barrels of oil from Abu Dhabi National Oil Company in a dollar-free transaction.
Last week, Fitch Ratings downgraded the US’s long-term credit rating from AAA to AA+. While the downgrade won’t significantly impact the US government’s ability to borrow, it should serve as a wake-up call because there is a much bigger problem looming on the horizon: a market-driven downgrade of the US dollar.
In this special episode of the Friday Gold Wrap podcast, host Mike Maharrey answers listeners’ questions. He covers topics including the precious metals markets, investment strategies, the trajectory of the economy, the future of the US dollar, central bank digital currencies (CBDCs), and more.