Last year, we reported extensively on a push toward de-dollarization by countries like Russia and China and their desire to undermine the ability of the US to weaponize the dollar as a foreign policy tool. Europe was even starting to push to dethrone the dollar as the reserve currency.
With the Federal Reserve running the dollar printing press at full speed and the US government expanding the national debt into the stratosphere, there are renewed calls for a currency to replace the dollar as the world reserve.
The mainstream is a fickle place.
On the one hand, we had Bank of America raising its 18-month price projection for gold to $3,000. On the other hand, some people argue the price of gold could crash later in the year.
Earnings reports started coming in last week. It was a mixed bag, with some companies showing the negative impacts of the coronavirus-induced government shutdowns, but other companies coming in more upbeat. Peter Schiff appeared on RT Boom Bust to talk about it. He said the only thing the stock markets have going for them right now is the Federal Reserve. But one sector will truly benefit – gold.
It was another crazy week on Wall Street with a lot more economic doom and gloom, punctuated by a complete meltdown of the oil futures market. In this week’s Friday Gold Wrap podcast, host Mike Maharrey talks about some of the highlights – or lowlights – but he also injects a little optimism into the conversation and offers some constructive advice.
Why is the mainstream financial media mostly ignoring gold? Peter Schiff talked about it in a recent podcast. He said the investment pundits are missing the boat on a “no-brainer” investment.
The mainstream just went super-bullish on gold.
Bank of America raised its 18-month price target to $3,000 per ounce in a report titled, “The Fed Can’t Print Gold.”
There seems to be growing optimism that we’re nearing the end of the coronavirus lockdown. Stocks have rallied despite dismal economic numbers. But Peter Schiff says there are some important questions nobody is asking, especially when it comes to the insane Federal Reserve monetary policy.
We’ve had more than our fair share of stress over the last few weeks. I think we could all use a good laugh. And I have one for you. It has to do with teeth.
Gold sold off overnight and stock futures soared after President Trump offered some guidelines to “reopen America.” There was also news of a promising COVID-19 treatment. In this episode of the Friday Gold Wrap podcast, host Mike Maharrey throws a bucket of cold water on all of the optimism. He explains why the economy won’t likely just roar back to life even with an end to the economic lockdown.
Inflows of gold into gold-backed ETFs set a quarterly dollar record in Q1 2020 as holdings increased by the most tonnage in any quarter since 2016.
Gold-backed ETFs added 298 tons of gold through the first three months of 2020, amounting to $23 billion in net inflows. That pushed total holdings to a new record of 3,185 tons, according to data released by the World Gold Council.
