Donald Trump and Chinese Vice Premier Liu inked their signatures on the Phase 1 trade deal this week. But was it really a big deal? Or was it no deal? Mike Maharrey talks about it on this week’s Friday Gold Wrap podcast. He also talks about why the gold market seems to be holding steady despite some strong headwinds and the outlook for the yellow metal in 2020.
In his latest podcast, Peter talks about sudden silencing of the war drums, the risk that remains in the markets, the stealth bull market in gold, the risk of a socialist president, rampant economic illiteracy, inflation and more.
As Peter put it – what a difference 48 hours makes.
On Friday, all the major stock markets finished the week at weekly highs in record territory. Positive data on personal income and spending helped push stocks higher to close out the week. Everybody keeps cheering the “strong economy,” but during his podcast Friday, Peter Schiff said the in truth, the US economy is the biggest bubble ever. And it’s being driven by the most reckless combination of monetary and fiscal policy in history.
We’ve seen new records in the stock market in recent weeks. The headlines tell us it’s all because of a potential trade deal, but Friday Gold Wrap host Mike Maharrey doesn’t buy it. He says it’s really all about Fed money printing. That may juice the stock market, but there’s a downside – inflation. In this episode of the podcast, Mike talks about it along with the week’s gold news.
Gold is poised to join the “all-time-highs” club in the upcoming decade.
No, this isn’t the musing of some gold-bug. It’s analysis from a pretty mainstream source — Bloomberg Intelligence.
Stocks have set new records over the last several weeks and the dollar hit 2-year highs this fall. But writing in the commodity outlook, Bloomberg Intelligence senior commodities strategist Mike McGlone made the obvious point that stocks and the dollar can’t go up forever. When the tide turns, the reversal could boost gold to all-time highs.
The Dow Jones was down over 280 points yesterday, marking the third straight day of declines. Sudden pessimism about a trade deal has tanked stocks. In his latest podcast, Peter Schiff talked about it.
Typically, December is a strong month for stocks with the so-called “Santa Claus rally.” Peter said maybe the Grinch is going to steal that rally this year.
Stocks closed out November on a high note with the hope of a trade deal fueling Wall Street. But is this warranted? And are consumers really doing a well as the mainstream would have us believe? Peter Schiff appeared on RT Boom Bust last week to talk about it. He said it’s all a house of cards and it’s going to come crashing down on American consumers.
Peter Schiff hit a number of subjects in his most recent podcast, including bitcoin, the stock market, wealth inequality, the Fed and the voting age. He also said we should be thankful for capitalism.
It’s been a pretty dreary week on Wall Street with another round of trade war pessimism. Otherwise, there hasn’t been a lot of economic news to roil markets and precious metals have remained pretty much rangebound. But host Mike Maharrey has a silver lining for you on this episode of the Friday Gold Wrap podcast, along with a little Fed analysis.
On Nov. 18, Peter Schiff appeared on RT Boom Bust to talk stock markets, trade war and Federal Reserve policy. He said that right now the Fed is doing a good job stimulating the bubbles, but ultimately, it’s going to end very poorly.
On the trade war front, there seems to be a lot of conflicting information and continual yo-yoing between pessimism and optimism. The Chinese seem less confident while White House economic advisor Larry Kudlow says a deal is close.
Peter said he thinks China is posturing for negotiations.
