The US dollar has been showing significant weakness over the last several weeks. The dollar index closed at 90.814. Just two weeks ago, it was in the 94 range. Compared to the Swiss franc, the dollar is at a 6-year low. In his podcast, Peter talked about the dollar weakness and the Federal Reserve policy that’s causing it. The crazy thing about the rising inflation expectation is that the Fed appears poised to try to fight it with even more inflation.
After a dismal November, gold and silver are starting to show some signs of life. But what caused the big drop in the price of precious metals last month? Was it warranted? In this episode of the Friday Gold Wrap podcast, host Mike Maharrey looks at the economic and monetary fundamentals and tries to bring us back to reality. He argues that despite the optimism about a coronavirus vaccine, nothing will fundamentally change.
We’ve written extensively about the government intentionally devaluing our money. As one economist put it, the intentionally inflationary policies of central banks and governments are “daylight robbery.” But what’s the solution to this problem?
Economist Thorsten Polleit argues we need a free market in money. But is this possible? Wouldn’t this create monetary chaos?
A lot of people are turning more bullish on the economy with the possibility of an effective COVID-19 vaccine. But in his podcast, Peter Schiff argued that coronavirus isn’t the problem. COVID-19 isn’t making the economy sick. All of the Federal Reserve stimulus and money printing is making the economy ill. And coronavirus vaccine isn’t going to make it well.
Gold and silver sold off big and the Dow surged Monday on the announcement the Pfizer had successful coronavirus vaccine trials. But Friday Gold Wrap host Mike Maharrey says investors should maybe tap the brakes on thinking that a coronavirus vaccine is a cure-all. In this episode, the looks a little deeper at the long-term ramifications of a vaccine. He also breaks down the newest budget deficit numbers.
This summer, Peter Schiff and Jim Rickards discussed the possibility of $15,000 gold. In a recent interview. economist Rafi Farber took this line of thinking to the next level, arguing the dollar price of gold could eventually hit infinity – meaning simply that the value of the dollar will go to zero.
It looks like Joe Biden will ultimately win the presidential election, although it will likely be weeks before all of the official votes are in and the legal wrangling could go on even longer. One thing that is clear is that the polls were horribly wrong. They were projecting a Biden landslide. If Trump did lose, it was barely.
In his podcast, Peter Schiff offered some post-election analysis and said investors are as clueless as the pollsters.
Gold and silver have had a tough week. So have stocks. In a lot of ways, it looked like March all over again, with worries about increasing COVID-19 cases and new lockdowns. But then we got the Q3 GDP number and that injected a dose of optimism. In this episode of the Friday Gold Wrap podcast, host Mike Maharrey talks about the dynamics in the markets and provides a little reality check on that big GDP number.
Peter Schiff delivered a key-note speech at the Virtual Investor Day Conference. He walked through the history of the Federal Reserve’s monetary policy over the last several decades and explained the inevitable outcome. Peter’s recap of Fed history leads you to an undeniable conclusion: the Federal Reserve has never been right. And it has set us up for an even bigger crisis.
Gold has been trading sideways for several weeks. But there are all kinds of reasons to be bullish on the yellow metal. So why isn’t the price of gold rising faster? Where are the gold bulls? In this episode of the Friday Gold Wrap podcast, host Mike Maharrey tries to answer that question and discusses some of the reasons people should be buying gold.