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POSTED ON August 15, 2019  - POSTED IN Videos

Economist Art Laffer owes Peter Schiff a penny after losing a 2006 bet.

Now Peter is ready to go double or nothing.

Peter won the penny on a bet he made with Laffer on Larry Kudlow’s TV show back in 2006. Peter said the economy as going to crash. Laffer said the economy was doing great and there was nothing to worry about.

As we know, Peter was right.

POSTED ON August 9, 2019  - POSTED IN Friday Gold Wrap

The price of gold surged this week, breaking all-time records in a number of currencies. It also did pretty well in dollar terms, hitting six-year highs and pushing above the key $1,500 level. Meanwhile, silver had its best single day in over three years. What drove this week’s precious metals rally? And can we expect it to continue? Host Mike Maharrey talks about it in this week’s Friday Gold Wrap.

POSTED ON August 6, 2019  - POSTED IN Peter's Podcast

The Federal Reserve’s modest rate cut last week disappointed President Donald Trump. He wanted more and he was quick to criticize Powell and Company. The very next day, the president trumped the Fed by slapping down the tariff card.

Peter Schiff talked about the president’s move in a recent podcast.

POSTED ON August 6, 2019  - POSTED IN Key Gold Headlines

Gold hit record highs in a number of currencies on Monday as trade war worries, geopolitical uncertainty and expectations of a slowing economy drove investors to seek safe haven.

During a recent interview on Fox Business, Peter Schiff said the trade is to get out of the dollar and look at gold. As if to prove him right, gold shot up about 1.5% Monday in dollar terms, hitting a six-year high. The yellow metal pushed to $1,469,60 before some profit-taking stalled the rally.

POSTED ON August 5, 2019  - POSTED IN Videos

Right before the Federal Reserve raised interest rates for the last time in December 2018, Peter Schiff predicted the next move would be a rate cut. At the time, Fox Business anchor Liz Claman promised she would bring Peter back on if he was right.

He was. And she did.

The Fed cut rates for the first time in over a decade last week. Peter appeared on The Claman Countdown to talk about the cut, reiterating that it will not stop the coming recession. He also offered some advice to investors.

POSTED ON August 2, 2019  - POSTED IN Friday Gold Wrap

The Federal Reserve came through with its first interest rate cut in more than a decade this week. But with Jerome Powell trying desperately to convince everybody that this wasn’t the beginning of a long cutting cycle, the stock markets weren’t pleased. And neither was President Trump. So, he decided to put his own fingerprint on the markets, announcing new tariffs on Chinese products. In this week’s Friday Gold Wrap podcast, host Mike Maharrey breaks it all down and explains how it impacted the gold market.

POSTED ON July 29, 2019  - POSTED IN Peter's Podcast

We got the first Q2 GDP estimate on Friday. Economic growth slowed to 2.1%, but the number came in slightly better than economists had projected.

In his most recent podcast, Peter Schiff broke down the GDP report. As he put it, when you actually look beneath the numbers, the quarter was a disaster.

This was a horrible quarter for GDP.”

POSTED ON July 29, 2019  - POSTED IN Videos

Gold has risen to six-year highs in recent weeks as the Federal Reserve has pivoted back toward an easy-money monetary policy. Markets widely anticipate a Federal Reserve interest rate cut this week and the economy appears to be slowing.

Peter Schiff recently appeared on RT Boom Bust to explain why he believes this is the beginning of a much bigger long-term rise in the price of gold. And it’s not just because the Fed is cutting rates.

POSTED ON July 26, 2019  - POSTED IN Friday Gold Wrap

Markets are basically in “hurry up and wait” mode as they anticipate the Federal Reserve FOMC meeting next week. Will the central bank cut rates as anticipated? Or will Powell and company surprise everybody?

In the meantime, there was some interesting economic and market news to digest this week. In this episode of the Friday Gold Wrap, host Mike Maharrey talks about the European Central bank meeting and the continuing surge in silver prices. He also looks ahead toward the next week’s Fed meeting.

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