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POSTED ON July 6, 2021  - POSTED IN Peter's Podcast

Despite the addition of a better than expected 850,000 jobs in June, the unemployment rate ticked up to 5.9%, The anticipation was that it would drop to 5.6%. The media spun this as a fantastic jobs report, focusing on the headline number of jobs “created.” Peter Schiff talked about it in his podcast and said it was a weaker report than the headlines would suggest. And the really bad news is unemployment and prices are rising together.

POSTED ON May 14, 2021  - POSTED IN Friday Gold Wrap

CPI came in much hotter than expected. Fed Vice Chairman Richard Clarida actually said, “We were surprised by higher than expected inflation data.” But should we really be surprised by this? In this episode, Friday Gold Wrap host Mike Maharrey talks about inflation and suggests maybe you shouldn’t be shocked. He also discusses the whacked-out labor market.

POSTED ON May 12, 2021  - POSTED IN Key Gold Headlines

America’s labor market is a mess and riddled with incongruency.

On the one hand, businesses can’t find workers. Help wanted signs hang in windows across the country. A McDonald’s franchisee in Tampa is offering bonuses just for showing up for an interview.

Meanwhile, unemployment just ticked up to 6.1%.

In what kind of world does this make sense?

POSTED ON May 10, 2021  - POSTED IN Peter's Podcast

Everybody expected the jobs report last Friday to show a big increase in employment. It didn’t happen.

Instead of the 978,000 new jobs created in April that economists expected, nonfarm payroll increased by just 266,000. On top of that, the Labor Department revised the March number down from 916,000 to 770,000. The unemployment rate ticked up to 6.1%.

As Peter Schiff put it in his podcast, you don’t need a job to spend printed money handed out by the government.

POSTED ON April 9, 2021  - POSTED IN Fun on Friday

Unemployment is at 6%. Tens of thousands of people apply for unemployment every week (744,000 last week alone). The US government is spending trillions of dollars to “stimulate” the economy. But restaurants in northeast Florida can’t find enough workers to open every day.

Does this sound a nutty to you as it does to me?

POSTED ON April 9, 2021  - POSTED IN Friday Gold Wrap

Gold hit its highest price in five weeks after the release of the March Federal Reserve meeting minutes and comments by Jerome Powell both reiterated the central bank’s dovish position. In this episode of the Friday Gold Wrap podcast, host Mike Maharrey talks about the Fed’s dovish cry and how this could play out. He also discusses a strange dichotomy in the unemployment numbers.

POSTED ON March 7, 2021  - POSTED IN Peter's Podcast

The Labor Department released its February jobs numbers on Friday. The numbers were better than expected and the official unemployment rate ticked down. The mainstream spun it as more good news and another sign that the economy is on the upswing. But in his podcast, Peter Schiff broke down the numbers and came to a completely different conclusion  – this was not a strong jobs report.

POSTED ON December 30, 2020  - POSTED IN Guest Commentaries

Peter Schiff has been saying that all of the “help” the US government and the Federal Reserve have offered up during the coronavirus pandemic isn’t helping. In fact, it’s made the situation worse. In a podcast last month, Peter said that all of the money printing and stimulus allowed people to keep spending, but they aren’t producing anything.

The problem is government doesn’t seem to understand the difference between money that is actually earned by being productive and money you get just because the Federal Reserve or some other central bank conjures out of thin air. When you’re productive, you’re helping to grow the economy. When the Fed prints money, all they’re doing is distorting the economy and increasing the cost of living.”

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