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.
The Federal Reserve released the minutes from its most recent FOMC meeting on Wednesday and it appears the monster they created has finally spooked the central bankers.
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.
Ron Paul has identified an increase in what he calls the “most insidious tax” buried in the GOP tax reform bill.
A lot of Americans have put a lot of hope in tax reform. As Peter Schiff said in a recent Fox Business interview, the prospect of economic growth spurred by tax reform and other Trump policies have generated a great deal of optimism. But the question remains: can the GOP Congress deliver? And even if Congress does get a reform package passed, some question whether it will actually lead to the economic growth promised. Absent spending cuts, the tax plan will increase the federal debt even further. Evidence indicates high debt levels retard growth.
In a recent article published on the Mises Wire, Ron Paul identified another problem with the Republican tax plan. It actually increases the most insidious of all taxes – the “inflation tax.”
When the Fed launched its aggressive monetary policy in the wake of the 2008 financial crisis, many free-market economists predicted it would result in massive price inflation. That never materialized. As a result, Keynesian economists like Paul Krugman love to finger-point and mock those who criticize easy money policies designed to “stimulate aggregate demand.” They claim the lack of price inflation proves they were right all along. You can massively increase the money supply during a downturn to stimulate the economy without sparking inflation. Free-market people are wrong.
But just because we don’t see price inflation doesn’t mean there isn’t any inflation at all. After all, the new money has to go someplace. If we don’t see it manifested in rising prices, it’s because we’re looking in the wrong place.
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.
News of hotter than expected inflation numbers caused gold to sell off Tuesday. The markets seem to think rising inflation is bullish for the dollar and bearish for gold.
But is it really? Is higher inflation really bad for gold?
As Peter Schiff points out in his latest podcast, this whole notion is rather absurd.
Could silver be set to soar?
Analysts Barron’s spoke with recently think so.
An article published on the business journal’s website last week predicted the white metal will emerge as a winner for the second straight year.
With a per-ounce price of $17.41 for silver futures as of Friday, analysts say the white metal is poised for a big climb, particularly as the gold-to-silver ratio stands well above historical averages.”
