SchiffGold’s Blog

“No” is Boeing’s final word to union workers, who say they plan to remain off work for the “long haul” after the company walked away from the negotiating table.

Last Tuesday, Jason Burack, host of “Wall St for Main St,” interviewed Peter. They cover the state of gold and silver markets, the similarities between 2024 and 2008, and the flaws with government data. Peter also predicts a return to QE-style Fed policy in the near future. 

In the wake of the Fed’s juicy 50 bps interest rate cut, the dollar responded immediately by dropping against gold. With more rate cuts on the way, Israel’s war expanding rapidly, and inflation ready to rip higher, new record prices are on the way for the yellow metal.

Fed chair Powell slammed the “panic button” this week. On Wednesday the Fed began a rate-cutting cycle in an environment of rising unemployment. This situation is historically associated with recession, but Powell is desperate for you to think that “this time is different.”

On Wednesday, Peter appeared on Claman Countdown with Liz Claman on Fox Business. There he voiced strong opposition to the Fed’s recent decision to cut interest rates by 50 basis points, pointing out that this behavior is what got the economy in trouble in the first place.

Full-time jobs are shrinking while part-time positions rise. With recession alarms blaring, the Fed only has two choices: create inflation or cause recession.

Yet again the myth of a “soft landing” even as the CPI surges past its target. Powell is now keen to extinguish the fire though disastrous rate cuts, a sign that the recession is already here.

Peter’s back in Puerto Rico for this episode. He explains his theory behind the market’s bounce back last week, notes why last week’s panic bodes poorly for Bitcoin, and comments on two major political events— Kamala Harris’s VP pick and the “hate speech” clamp-down in the United Kingdom.

Gold closed the week at $2,430 (down $12 since last week) and silver at $27.45 (down $1.09). Last week’s bad jobs news cascaded with a Japanese economic crisis resulting in a selloff across global markets. At one point the S&P dropped over 200 points and the Dow plummeted more than 1,000 points. We discuss this […]

Americans are already struggling to feed their families and pay their bills, but having predicted every US recession since 1960, the flattening bond yield curve is speaking loud and clear that an “official” downturn is nearly inevitable. With bond prices on the rise as the Fed looks increasingly likely to cut rates in September, the […]