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POSTED ON March 26, 2018  - POSTED IN Key Gold Headlines

Spending America into oblivion has become business as usual on Capitol Hill.

On Friday, Pres. Donald Trump signed a $1.3 trillion dollar spending bill. The legislation funds the federal government through the remainder of the 2018 budget year, which ends Sept. 30.

The bill directs $700 billion to the military and $591 billion to various domestic agencies. According to the Washington Post, military spending will increase $66 billion over the 2017 level, and the nondefense spending comes in at $52 billion more than last year.

POSTED ON March 22, 2018  - POSTED IN It's Your Dime

SchiffGold’s It’s Your Dime features “straight talk” interviews with movers and shakers in the world of precious metals, investing and economics.

In this episode, host Mike Maharrey talks with SchiffGold senior precious metals specialist Joel Bauman. In an interview recorded earlier this month, they discuss the current state of the precious metals market and Joel talks about where he thinks it’s heading in the near future. Along the way, Joel and Mike get into several interesting subjects including gold and silver’s role as a portfolio hedge, ETFs vs. physical gold, counterparty risk and the cryptocurrency phenomenon.

POSTED ON March 22, 2018  - POSTED IN Key Gold Headlines

The Federal Reserve followed its script yesterday and raised interest rates another 25 basis points. But the central bankers did surprise some people by hinting at just two more hikes this year. Analysts have been fixated on the possibility of four 2018 rate increases.

The Fed’s slightly more dovish tone on rate hikes sent gold climbing. The yellow metal gained about 1% in the aftermath of the FOMC meeting.

Nevertheless, even while dampening expectations of faster tightening, the Fed continued to talk up the economy. In fact, the central bankers project continuing rate hikes all the way into 2020. In his most recent podcast, Peter said the Fed sounded even more optimistic about the economy than it has in the past. He called it “all politics,” designed to maintain the illusion that everything is great.

POSTED ON March 19, 2018  - POSTED IN Key Gold Headlines

Could we be on the verge of a retail apocalypse?

February marked the third straight month of declining retail sales. Analysts had not expected another drop, but they got one nonetheless. Sales fell 0.1% in February. Analysts had expected an uptick of 0.3%.

This is not good news for a retail sector that is already teetering on the brink.

POSTED ON March 15, 2018  - POSTED IN Key Gold Headlines

Retail sales unexpectedly fell again in February. It was the third straight monthly drop and the first time the US economy has seen three straight months of declining retail sales since 2012.

Sales fell 0.1% in February. Analysts had expected an uptick of 0.3%. According to CNBC, households cut back on purchases of motor vehicles and other big-ticket items, pointing to a slowdown in economic growth in the first quarter.

So, why is this happening? Peter Schiff offered a simple reason in his latest podcast.

Americans are broke.

POSTED ON March 12, 2018  - POSTED IN Key Gold Headlines

Jobs numbers came out Friday better than expected.

According to the Labor Department, the US economy added 313,000 jobs last month, the most since October 2015. Economists had anticipated a gain of about 200,000. Wage growth was less stellar, ticking up just 0.1%. Analysts projected a 0.2% increase after a pretty significant jump of 0.3% in January spooked markets with inflation fears.

In his latest podcast, Peter Schiff said if he was a conspiratorial person – and he’s not – he would say, “Wait a minute, this looks too good to be true.”

POSTED ON February 26, 2018  - POSTED IN Videos

We’ve been talking a lot about the rising levels of debt – both government and household. Set in an environment of rising interest rates, this is a huge problem very few people seem concerned about.

We’ve been enjoying a big party and it’s about to come to an abrupt end.

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