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This month marks the 50th anniversary of President Richard Nixon slamming shut the so-called “gold window” and severing the last ties between the dollar and gold. On Aug. 15, 1971, Nixon ordered Treasury Secretary John Connally to uncouple gold from its fixed $35 price and suspended the ability of foreign banks to directly exchange dollars […]
Dallas Federal Reserve President Robert Kaplan has been one of the more hawkish Fed members. On Aug 11, he said the Fed should announce a quantitative easing taper in September and begin slowing asset purchases in October. But two weeks later, Kaplan backed off that assertion, saying that with the surge of COVID-19, he was […]
As prices continue to spiral upward and the Federal Reserve maintains its inflationary monetary policy, a lot of people in the mainstream keep talking about inflation as a good thing. Peter Schiff said it seems like they’re trying to soften us up and make us willing to accept higher inflation. But as he explains in […]
This week marked the 50th anniversary of President Richard Nixon slamming shut the “gold window” and cutting the last tether between the dollar and gold. In this episode of the Friday Gold Wrap podcast, host Mike Maharrey explains exactly what Nixon did and the impact of 50 years of monopoly money. He also covers some […]
According to the Federal Reserve, it exists to “stabilize” the economy. Does it though? Despite inflation coming in hotter than expected month after month this year, Federal Reserve Chairman Jerome Powell assures us we need not worry. This surge of inflation is “transitory.” But even if it isn’t we still don’t need to worry. He […]
While the CPI numbers came in around expectations in July, the producer price data came in hotter than expected for the seventh straight month, putting a damper on the notion that “transitory” inflation might be cooling.
Fifty years ago this week, President Richard Nixon slammed shut the “gold window” and eliminated the last vestige of the gold standard. Nixon ordered Treasury Secretary John Connally to uncouple gold from its fixed $35 price and suspended the ability of foreign banks to directly exchange dollars for gold. During a national television address, Nixon promised […]
Gold and silver tanked after last Friday’s job report. But both metals have rallied a bit since the July CPI numbers came in right at expectations. In this episode of the Friday Gold Wrap, host Mike Maharrey looks a little deeper at jobs and CPI. Then he goes off-script and addresses some listener comments.
The July Consumer Price Index (CPI) data came out this week. For the first time, the numbers were in line with expectations, leading many mainstream pundits to declare “transitory” inflation is already starting to cool down. Peter Schiff broke down the report in his podcast. He said inflation is far from cooling off. In fact, […]
For the first time this year, CPI data came in within expectations. Many in the mainstream took this as a sign “transitory” inflation might be cooling. But many prices continue to increase. The BLS Consumer Price Index (CPI) has become one of the most anticipated data points each month. The CPI has become a controversial […]
