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Gold pushed above $1,900 an ounce near the end of the trading day Tuesday (May 25) and closed just below that level. Silver also had a strong day, up about 22 cents, closing just below $28 an ounce. Meanwhile, the dollar index headed in the opposite direction, closing an 89.66. That’s the lowest level for […]
In many ways, it appears the economy is beginning to recover from the shocks of the coronavirus pandemic. GDP growth is way up. The stock market is soaring. A lot of people are optimistic. But during an appearance on the Ben Shapiro Show, Peter Schiff said this isn’t a real recovery, and he explains how […]
Inflation came in hot in April. Initially gold sold off on the news. But over the following week, there appears to have been something of a pivot in the market. Gold and the dollar both started behaving as one would expect in an inflationary environment. Peter Schiff said it looks like investors are starting to […]
After last week’s hotter than expected CPI data, gold sold off, following a pattern we’ve seen over the last few months. But in the last week, gold has rallied, knocking on the door of $1,900. In fact, there has been a broader pivot in the market that could indicate the mainstream is ready to face […]
The Consumer Price Index came in much hotter than expected last week. The mainstream chalks rising prices to supply chain and production issues caused by the pandemic. But in a recent interview on NTD News, Peter Schiff says there’s more to it than that. Prices are rising because a surplus of printed dollars is bidding […]
The unemployment rate ticked up to 6.1% in April despite businesses all over the country struggling to hire workers. But as Peter Schiff pointed out, you don’t need a job to spend printed money handed out by the government. The Federal Reserve is supposedly stimulating the economy as it prints trillions of dollars out of […]
The economy is booming again – or so we’re told. Trillions in stimulus have juiced consumption and created the illusion of prosperity. But in truth, Americans are simply spending printed money on stuff they didn’t produce. Peter Schiff recently said America’s consumption economy is really a bubble The problem is, economies can’t run on consumption. […]
Consumer Price Index (CPI) data for April came in much hotter than expected. Year-on-year, inflation is up 4.2%. The big number even prompted Federal Reserve Vice Chairman Richard Clarida to say, “We were surprised by higher than expected inflation data.” Peter Schiff appeared on Tucker Carlson’s show to talk about the consequences of more printed money […]
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 […]
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 […]
