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POSTED ON May 24, 2019  - POSTED IN Friday Gold Wrap

There is plenty of debate about tariffs right now. A lot of people oppose them because they support free trade. A lot of people support them because they believe they protect US industry. Others think tariffs are a great tool to force other countries – specifically China – to engage in fair trade. In today’s Friday Gold Wrap podcast, host Mike Maharrey argues that no matter what you think about tariff policy, you should pause and count the cost because tariffs are taking money out of your wallet. Mike also talks about the possibility of China using its “nuclear option” in the trade war and gives an overview of the news that drove the precious metals markets this week.

POSTED ON May 22, 2019  - POSTED IN SchiffGold commentary

In a recent article, Peter Schiff called the ongoing trade war Pres. Trump’s last stand, saying, “it looks to me that Donald Trump … is charging into an economic version of the Little Bighorn.” Proponents of the trade war argue that we need to give Trump’s strategy time to work. They say the tariffs will force the Chinese to bend, and in the end, America will find itself in a much better economic position than it was before.

We can debate whether Trump’s tariffs are a brilliant negotiating tool or an economic disaster, but we shouldn’t ignore the fact that they are causing significant pain. And not just for the Chinese. Ultimately, American consumers are paying the price.

POSTED ON May 21, 2019  - POSTED IN Peter

General George Custer met his doom charging into a battle he thought he could win, against an opponent he did not understand. Based on his views about the fast-emerging trade war with China, it looks to me that Donald Trump, another blonde with a very high opinion of himself, is charging into an economic version of the Little Bighorn.

By mistaking the real nature of international trade, the costs of tariffs, the effects of currency movements, and the supposed ease with which the United States could quickly re-establish itself as a low-cost manufacturer, Trump risks shredding the safety nets that have undergirded the US economy for decades and plunging us into a war we are ill-equipped to fight.

POSTED ON May 20, 2019  - POSTED IN Peter's Podcast

Consumer confidence was much stronger than expected in the latest report that came out Friday. Consumer sentiment jumped to 102.4, well above the 97.5 that was forecast. This was a 15-year high in this University of Michigan index.

In his podcast Friday, Peter Schiff said he thinks the reason consumers are so optimistic is the constant positive rhetoric they are bombarded with. They are constantly told that the economy is booming. But in reality, they are falling for a big con-job.

POSTED ON May 20, 2019  - POSTED IN Key Gold Headlines

China sold off the highest level of US Treasurys in nearly 2-1/2 years in March. Meanwhile, there are renewed fears the Chinese could implement its “nuclear options” and sell off even more US debt in retaliation for US trade war tariffs.

China sold $10.45 billion in Treasuries in March. That was the biggest US debt dump by China since October 2016.

POSTED ON May 17, 2019  - POSTED IN Friday Gold Wrap

The markets have been up and down this week, riding the trade war roller coaster. And analysts can’t seem to decide if the data of the day is telling us that the economy is sound or slowing. But we do know one thing for sure – there is a lot of debt out there, and there are signs that it might be catching up with us. In this episode of the Friday Gold Wrap podcast, host Mike Maharrey talks student loan and auto loan debt, and what it be telling us about the economy. He also covers some of the latest trade war news and the last batch of economic data.

POSTED ON May 16, 2019  - POSTED IN Market brief

The following is a market update as it related to precious metals prepared by SchiffGold intern commodities analyst Jason Mezhibovsky.

Trade War

Although some pressures on US equities from the trade war have been eased, the S&P 500 is down about 3.8% since the end of April. Stocks rebounded Wednesday with the news that the US and China seem to to be making some progress with trade deal talks and that the US may delay some auto tariffs on the EU.  The Dow was up 115 points and the S&P 500 picked up 16.55 points Wednesday. But stock markets still have not recouped all of their losses from the pressure faced these past two weeks.

POSTED ON May 14, 2019  - POSTED IN Peter's Podcast

Monday was another rough day on Wall Street as the ongoing trade war weighed on stocks. The Dow dropped 617 points and closed below Friday’s low. The NASDAQ was down 3.4% on the day. The Russell 2000 was also off by more than 3%.

In his podcast Monday evening, Peter Schiff said he thinks the bear market rally is over.

Long live the bear market. This bear market rally is dead. We are going a lot lower.”

POSTED ON May 10, 2019  - POSTED IN Friday Gold Wrap

Trump has leveled a lot of criticism at the Federal Reserve over that last several months. This has led some people to proclaim that the president is an enemy of the Fed. But as Mike Maharrey explains in this week’s Friday Gold Wrap podcast, Trump is no Ron Paul. The president’s beef with the Fed is more about policy and less about the central bank itself. And we should never forget — policy has consequences. In this episode, Mike gives a simple overview of how the Fed creates boom-bust cycles and why Trump needs more boom. He also covers the latest on the trade war and what’s going on in the gold market.

POSTED ON May 9, 2019  - POSTED IN Original Analysis

As the trade war continues to unfold, investors should keep an eye on the dollar

Heated rhetoric between the US and China continued as negotiators from the two countries prepared to sit down for the latest round of trade talks. Pres. Donald Trump accused the Chinese of “breaking the trade deal.” Meanwhile, the Chinese threatened to retaliate if the US increases tariffs. Trump has said he will move ahead and hike tariffs to 25% on $200 billion worth of Chinese imports at the end of this week.

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