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Peter Schiff recently explained how the Federal Reserve has rigged the US Treasury market. Well, the European Central Bank has taken bond market manipulation to the next level. According to a Bloomberg report, the ECB is buying bonds to control the yield spread between debt issued by various EU countries. As a result of this […]
Negative-yielding debt surged to over $15 trillion earlier this month. This pile of negatively-yielding paper includes government and corporate bonds, along with some euro junk bonds. In a recent episode of the Wolf Street Report, Wolf Richter called this “NIRP absurdity.” And it could be coming to America. Negative interest rates started out as a short-term […]
In this week’s Friday Gold Wrap, Mike Maharrey covers some more bad signs in the economy, including rising oil prices, an unexpected drop in retail sales and a surge in negative-yielding government bonds. At best, it looks like the economy is slowing down. Or it could be the prelude to the next crisis. This raises […]
Last week we reported that the yield curve on US Treasurys had inverted after the yield on the 10-year fell below the yield on 3-year bonds for the first time since 2007 – the cusp of the Great Recession. This has historically been an early-warning sign signaling a recession. Now we have some more bad […]
The SchiffGold Friday Gold Wrap podcast combines a succinct summary of the week’s precious metals news coupled with thoughtful analysis. You can subscribe to the podcast on iTunes.
We often criticize the Federal Reserve for its three rounds of quantitative easing. Coupled with artificially low interest rates, Fed QE stimulus — essentially money creation –pumped up all kinds of asset bubbles. Now that the US central bank is trying to tighten, we’re beginning to see the air seep out of those bubbles. But […]
At this point, the European Central Bank isn’t nearly as keen on raising interest rates as the Federal Reserve. The ECB announced Thursday it would likely hold its interest rate steady at zero through the summer of 2019. “We decided to keep the key ECB interest rates unchanged and we expect them to remain at […]
Janet Yellen and company pretty much followed the script during last week’s Federal Open Market Committee meeting, raising interest rates another .25 percent and signaling three rate hikes in 2018. We tend to focus primarily on Federal Reserve actions, but it’s important to remember the Fed isn’t the only central bank game in town. While it […]
