Commodities are booming. A lot of people seem to think this is a sign of pending economic growth. But in his podcast, Peter Schiff said it’s really a sign of inflation.
Most of the investment world continues to focus on the stock market and they’re not really paying attention to what going on in the commodities markets. And as Peter put it, that’s going to have a big impact on what happens in the supermarket.
For the first time ever, Russia holds more gold than US dollars.
According to a Central Bank of Russia report published this week and analyzed by Bloomberg, gold made up 23% of the Central Bank of Russia’s reserves as of the end of June. The bank’s share of dollar assets dropped to 22%. In 2018, more than 40% of Russian reserves were in dollars.
Everybody in America is going to be impoverished to a degree by these failed policies.”
Peter recently appeared on the Chris Salcedo Show on NewsMax to talk more about government spending, inflation, and the weakening dollar.
Peter Schiff appeared on the Lions of Liberty podcast with Marc Clair to look back at the Trump economy and ahead to what the Biden years might bring. Along the way, Peter and Marc talk about the stock market bubble, Peter’s move to Puerto Rico, the looming dollar collapse, and bitcoin.
There aren’t many people sad to see 2020 in the rearview mirror. But there’s no guarantee that 2021 is going to be any better. In his podcast final podcast of 2020, Peter Schiff said that hopefully, the upcoming year will be better healthwise in terms of COVID-19, but economically, this could be the year the chickens come home to roost.
Not just the ones that we let out in 2020 but the ones we have been letting out for the years and years and years that preceded 2020.”
The year 2020 is coming to a merciful end. As it was with pretty much everything, it was a nutty year for the economy and the precious metals markets. We all hope 2021 will be better, but it seems unlikely that it will be any less nutty. In this special Thursday episode of the Friday Gold Wrap podcast, host Mike Maharrey takes a look back at 2020 and speculates on what could lie ahead in 2021.
Peter Schiff has been driving home the fact that the Fed’s extraordinary monetary policy isn’t helping the economy. In fact, it’s setting the stage to destroy it.
Peter points out that the Fed seems to think inflation is the cure for what ails us. That means the monetary and fiscal policies that resulted from COVID are here to stay.
Peter Schiff shared his son’s Christmas list and drew a rather disconcerting conclusion – a lot of Americans think like a 7-year-old kid.
The money supply grew by 37.08% year-on-year in November based on the True Money Supply Measure (TMS). It was effectively the same rate of growth we saw in October and remains near September’s all-time high rate of growth.
The staggering growth in the money supply becomes more clear when you compare this year with last. TMS growth in November 2019 was just 5.9%.