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POSTED ON March 18, 2020  - POSTED IN Peter's Podcast

US stock markets enjoyed another Tuesday rebound with the announcement of even more monetary stimulus from the Fed and the hope of government fiscal stimulus and bailouts. In his podcast, Peter Schiff said this should make it crystal clear that the government and central bank are rigging the markets.

POSTED ON March 13, 2020  - POSTED IN Friday Gold Wrap

It appears we’ve pretty much reached complete panic mode.

The longest bull market in history came to an abrupt end on Wednesday. Wall Street followed up with another massive sell-off on Thursday.  The S&P 500 had its worst day since Black Monday in 1987. Even gold was down. Meanwhile, the Fed tried to stem the tide, announcing a new round of quantitative easing. But the tide wasn’t stemmed. In this episode of the Friday Gold Wrap podcast, host Mike Maharrey gives an overview of the week’s events and talks about the elephant in the room.

POSTED ON March 12, 2020  - POSTED IN Key Gold Headlines

The US is heading for economic lockdown as the impact of the coronavirus grows. To cope with the crisis, President Trump has promised fiscal stimulus. The actual plan remains unclear, but the Trump administration has floated a reduction in payroll taxes, along with bailouts and loan guarantees for struggling industries. While the details are murky, one thing is certain — it will cost billions of dollars.

Meanwhile, the US government is already living far above its means. Uncle Sam recorded another massive budget deficit of $235 billion last month, according to the latest Treasury Department report.

POSTED ON March 11, 2020  - POSTED IN Peter's Podcast

Yesterday was “Reversal Tuesday.” Stocks rallied on the promise of government stimulus. The dollar and the bond market also turned around. In his podcast, Peter Schiff said the bond market was the one to watch because it’s possible that the promise of more stimulus could have finally pricked the overblown bond bubble.

President Trump floated the idea of a payroll tax cut. There is also talk of bailouts for oil companies and other industries hit hard by the coronavirus, such as airlines and cruise companies.

POSTED ON March 10, 2020  - POSTED IN Original Analysis

Stock markets have been getting hammered, ostensibly because of the economic impacts of the coronavirus. Peter Schiff has been saying this isn’t really about the virus. It was the pin that pricked the bubble. If it wasn’t coronavirus, it would have been something else.

Regardless, the Fed hit the panic button last week and slashed interest rates by half a percent. Peter has described this as throwing gasoline on a fire. In other words, the central bank is exacerbating the problem.

POSTED ON March 6, 2020  - POSTED IN Friday Gold Wrap

It’s been a roller-coaster ride on Wall Steet. Stocks whipsawed up and down — mostly down. Gold dipped and then rebounded. And the Fed cut rates in a move that looked an awful lot like a replay of 2008. In this episode of the Friday Gold Wrap podcast, host Mike Maharrey gives an overview of the topsy-turvy week, and tries to make sense out of what’s going on and where it might lead us.

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