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POSTED ON May 14, 2021  - POSTED IN Friday Gold Wrap

CPI came in much hotter than expected. Fed Vice Chairman Richard Clarida actually said, “We were surprised by higher than expected inflation data.” But should we really be surprised by this? In this episode, Friday Gold Wrap host Mike Maharrey talks about inflation and suggests maybe you shouldn’t be shocked. He also discusses the whacked-out labor market.

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

The US government ran another huge budget deficit in April. The shortfall came in at $225.58 billion, running the total budget deficit through the first seven months of fiscal 2021 to a record $1.9 trillion, according to the Treasury Department’s Monthly Treasury Statement.

That compares with a $1.5 trillion deficit through the first seven months of fiscal 2020, which included the first round of stimulus checks in April 2020.

POSTED ON May 7, 2021  - POSTED IN Friday Gold Wrap

Treasury Secretary Janet Yellen did a big flip-flop this week. Her comments and her subsequent attempt to walk them back were telling. She accidentally revealed the ugly truth about inflation and the central bank’s ability to deal with it. In this episode of the Friday Gold Wrap, host Mike Maharrey takes Yellen to task. He also talks about the recent rally in both gold and silver.

POSTED ON May 6, 2021  - POSTED IN Peter's Podcast

Inflation is the word of the day.

We’ve been talking about inflation for months, but now the mainstream is starting to pay attention to rising prices. In corporate board rooms, board members are talking about passing along their increased costs to their customers. Consumers are trying to tighten budgets. But the Federal Reserve keeps telling us there isn’t a problem. Inflation – so we’re told – is transitory. In his podcast, Peter Schiff said the central bankers at the Fed have to tell us that because they can’t be honest about inflation.

POSTED ON May 4, 2021  - POSTED IN Videos

We’ve been talking a lot about the specter of inflation. Despite the Fed’s assurances not to worry because any price increases we’re seeing are transitory, some people are indeed worried. A former JP Morgan managing director warned about inflation and echoed Peter Schiff’s view that the central bank is powerless to fight it.

And we’re seeing rising prices all over the place, from the grocery store to the gas station. Even the government numbers flash warning signs. But as Peter Schiff explains in this clip from an interview with Jay Martin, it’s probably even worse than we realize because the government cooks the numbers when it calculates CPI.

POSTED ON May 3, 2021  - POSTED IN Peter's Podcast

A lot of the economic data that came out last week looked pretty good. GDP growth came in big in the first quarter. Personal income rose by a record amount in March. The mainstream spun it all as positive, raving as if the economy is earning an ‘A.’ But in his podcast, Peter Schiff argues that the only reason the economy isn’t getting an F is because the Federal Reserve is cheating on the test.

POSTED ON April 30, 2021  - POSTED IN Friday Gold Wrap

There was a lot of news and economic data that came out this week. The Fed held its April meeting. President Biden unveiled yet another tax and spend plan. And the Q1 GDP numbers came out. In this episode of the Friday Gold Wrap, host Mike Maharrey gives an overview of the week’s news and draws a rather unsettling conclusion — this economy is totally jacked up.

POSTED ON April 29, 2021  - POSTED IN Key Gold Headlines

The trade deficit in goods leaped to another record high in March as Americans continue to spend stimulus money printed out of thin air on products they didn’t produce.

The goods trade deficit surged 4.0% last month, hitting an all-time record of $90.6 billion. That tops the previous record of $88 billion set in February.

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