Pierre Lassonde has said gold could skyrocket to $15,000 to $20,000 an ounce as the Dow-to-gold ratio falls to 1-to-1. Has his view changed?
Lassonde is the founder of Franco-
The Dow Jones cracked 30,000 this week and stocks continue to surge generally upward as investors are embracing risk-on sentiment based on high hopes a vaccine may put an end to the coronavirus pandemic. But there’s more to it than that. In this episode of the Friday Gold Wrap podcast, host Mike Maharrey takes a deeper look at what’s really driving this market mania, and he also takes down the myth that printing more money means more wealth.
The stock market continues to climb on coronavirus vaccine hopes. But why should it? After all, it didn’t sell off because of the pandemic. It’s at record levels despite COVID-19. In this episode of the Friday Gold Wrap podcast, host Mike Maharrey explains why this really isn’t about a vaccine. He also talks about one of the pernicious effects of this super-loose monetary policy – the theft of our savings.
Demand for investment silver is projected to come in at 236.8 million ounces in 2020. That would mark a 5-year high.
Low interest rates are a boon to borrowers. Thus the Federal Reserve’s quest to hold interest rates artificially low during the current economic crisis. We’re told easy money will bolster the economy as consumers and businesses take advantage of low rates and spend.
But if you’re trying to save money, this anything but a boon. In fact, it’s nearly impossible to save for retirement in the current interest rate environment. Today, your average Joe is forced to invest in increasingly riskier assets in order to generate enough money to retire on.
Gold and silver sold off big and the Dow surged Monday on the announcement the Pfizer had successful coronavirus vaccine trials. But Friday Gold Wrap host Mike Maharrey says investors should maybe tap the brakes on thinking that a coronavirus vaccine is a cure-all. In this episode, the looks a little deeper at the long-term ramifications of a vaccine. He also breaks down the newest budget deficit numbers.
Global ETF gold holdings rose for the 11th straight month in October, setting yet another new record at 3,899 tons valued at $235 billion.
Last week, Peter Schiff appeared on The Claman Countdown on Fox Business along with Mark Matson, founder and CEO of Matson Money, to talk about where to invest with this overpriced stock market.
Peter said the big danger is inflation and it will decimate a lot of portfolios.
All eyes have been on the presidential election this week. It’s still not clear who will win – although it’s looking more like a Biden victory. Meanwhile, the Federal Reserve held its November meeting this week. In this episode of the Friday Gold Wrap podcast, host Mike Maharrey offers some analysis of both the election and the Fed meeting. And he argues that what’s going on over at the Eccles Building might be more significant than who ends up in the White House.
Russia’s second-largest bank is betting on gold to boost profits in the midst of the COVID-19 pandemic and global economic slowdown.
According to a Bloomberg report, VTB Bank has prioritized gold trading in addition to lending to gold mining companies.