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POSTED ON December 20, 2017  - POSTED IN Key Gold Headlines

The House and Senate both passed the GOP tax bill yesterday. As of Wednesday morning, it needed just one more vote in the House on some technical changes made in the Senate before it heads to Pres. Trump’s desk.

The media keeps calling the Republican bill “tax reform.” Peter Schiff called that, “fake news.”

POSTED ON December 18, 2017  - POSTED IN Key Gold Headlines

It appears increasingly likely the Republican Congress will pass tax reform this week.

As we analyze the plan, it’s important to remember – incentives matter.

Details of the House/Senate compromise bill came out Friday. It features a top rate of 37% and a bottom rate of 10%. The corporate rate would drop to 21%. The standard deductions would nearly double. Individuals with existing mortgages would still be able to deduct their interest, and the compromise restored the deductibility of state income taxes up to $10,000. The plan would also eliminate the Obamacare penalty for not buying insurance. There are certainly things to like.

But as Peter Schiff pointed out in his podcast, there are also significant problems with the plan. It is riddled with loopholes and incentives that will substantially raise the debt – even more than projected.

POSTED ON December 13, 2017  - POSTED IN Videos

Peter Schiff recently appeared on RT Boom Bust to talk gold and silver.

Gold has struggled over the last few weeks with a looming Federal Reserve rate hike and the specter of tax cuts on the horizon weighing precious metals down. Peter said he thinks this is something of a seasonal lull and he expects the price to bounce back in the first part of 2018.

POSTED ON December 12, 2017  - POSTED IN Key Gold Headlines

Bitcoin mania is in full force.

When I get to my desk in the morning, the first thing I do is check the latest gold news. But lately, when I google the word “gold,” I mostly get Bitcoin news. In his most recent podcast, Peter Schiff even suggested CNBC should rename its network the “Crypto News Bitcoin Network.”

Many analysts have suggested Bitcoin is replacing gold. In fact, an article on CoinTelegraph reported that some investors are actually dumping their yellow metal in favor of Bitcoin. During a recent interview on CNBC. RJO Futures’ Phillip Streible declared that “Bitcoin has stolen a large market share of gold.” There is at least some anecdotal evidence backing this up.

POSTED ON November 20, 2017  - POSTED IN Key Gold Headlines

According to data compiled by the Chicago Fed, financial conditions have reached the loosest level in the US since January 1994. This despite Federal Reserve tightening over the last year.

On Nov. 10, the Chicago Fed National Financial Conditions index hit -0.93. As Peter Schiff pointed out in his most recent podcast, that was early on in the dot-com bubble. The Fed has been raising interest rates and talking about shrinking its balance sheet. Why is it that financial conditions are looser now then when rates were still at zero?

Peter said it’s because the Federal Reserve is way behind the curve.

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