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POSTED ON August 16, 2021  - POSTED IN Key Gold Headlines

Fifty years ago this week, President Richard Nixon slammed shut the “gold window” and eliminated the last vestige of the gold standard.

Nixon ordered Treasury Secretary John Connally to uncouple gold from its fixed $35 price and suspended the ability of foreign banks to directly exchange dollars for gold. During a national television address, Nixon promised the action would be temporary in order to “defend the dollar against the speculators,” but this turned out to be a lie. The president’s move permanently and completely severed the dollar from gold and turned it into a pure fiat currency.

POSTED ON August 9, 2021  - POSTED IN Key Gold Headlines

We’ve seen a sharp selloff in both gold and silver. Gold was down over $40 an ounce Friday. Meanwhile, the US dollar saw a sharp increase, along with a rise in long-term Treasury yields. The catalyst for these sharp moves was a better-than-expected jobs report and expectation that it will spark a quick pivot to monetary tightening by the Fed.

The markets are moving on fantasy, not economic reality.

POSTED ON August 6, 2021  - POSTED IN Friday Gold Wrap

Gold was solidly above $1,800 an ounce this week until Fed Vice Chair Richard Clarida mentioned the economy reaching the Fed’s goals earlier than expected and raised the specter of monetary policy tightening. But is the economy really improving as much as everybody seems to think? In this week’s Friday Gold Wrap, host Mike Maharrey digs into some of the economic numbers and determines they’re faking it.

POSTED ON July 16, 2021  - POSTED IN Friday Gold Wrap

Consumer price index data came in hotter than expected. Again. The producer price index data also came in well above projections. But Fed Chair Jerome Powell continues to stick to his “inflation is transitory” story. On this episode of the Friday Gold Wrap, host Mike Maharry digs into the inflation data and highlights Powell’s comments on Capitol Hill. He concludes the story is really all they’ve got.

POSTED ON June 27, 2021  - POSTED IN Guest Commentaries

The markets widely interpreted the June Federal Reserve meeting as hawkish. The central bankers pushed their projections for the first interest rate hike from 2024 back into 2023. But in reality, the Fed didn’t actually do anything. Interest rates will remain at zero and quantitative easing will continue unchanged into the foreseeable future.

The fact is the US government needs the Fed to continue its loose monetary policy to sustain its out-of-control borrowing and spending. Money is control and that’s why every government wants to control the money. Of course, this never works well for the average person. As Ron Paul put it, the road to big government authoritarianism is paved with fiat currency.

POSTED ON June 17, 2021  - POSTED IN Key Gold Headlines

The Federal Reserve wrapped up its June meeting. While the central bank didn’t raise rates, the messaging coming out of the FOMC was widely viewed as hawkish. But was it really?

We don’t think so. In fact, the Fed’s messaging was extremely dovish. And the fact that it continues to ignore inflation doesn’t bode well for the future.

POSTED ON June 15, 2021  - POSTED IN Key Gold Headlines

The CPI data came in higher than expected again in May. Looking at the trend, this should cast some serious doubt on the notion that inflation is “transitory.” Price data has come out hotter than expected every month this year. But the market reaction appears to be the exact opposite. The worse than expected CPI report seems to have reinforced the “inflation is transitory” narrative. Everybody seems to be buying into a lie the Fed is spoon-feeding us.

POSTED ON June 13, 2021  - POSTED IN Key Gold Headlines

We got the May Consumer Price (CPI) Index data last week. Once again, it came in hotter than expected. In this article, we break down the data and show that this surge of inflation is anything by transitory.

In the first place, it’s important to remember that the CPI is reverse-engineered to mask inflation. It doesn’t really tell the whole story. But even half the story is pretty bad.

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