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Janet Yellen Talking Out of Both Sides of Her Mouth

Via Peter Schiff January 21, 2021  by Michael Maharrey  0   0 During testimony before the Senate Finance Committee, Treasury Secretary-nominee Janet Yellen talked out of both sides of her mouth. She acknowledged that too much debt is problematic, but in the same sentence, insisted we need to “act big” to rescue the economy. Neither the president-elect, nor I,...

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Peter Schiff: Biden Takes the Helm of a Sinking Ship

Via Peter Schiff January 21, 2021  by SchiffGold  0   0 Joe Biden was inaugurated on Jan. 20, becoming the 46th president of the United States. And as Peter Schiff put it in his podcast, he took the helm of a sinking ship. But the stock markets sure don’t act like the ship is taking on water. All four...

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European Central Bank Takes Bond Market Manipulation to the Next Level

Via Peter Schiff January 20, 2021  by Michael Maharrey  0   0 Peter Schiff recently explained how the Federal Reserve has rigged the US Treasury market. Well, the European Central Bank has taken bond market manipulation to the next level. According to a Bloomberg report, the ECB is buying bonds to control the yield spread between debt issued by...

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Peter Schiff: Veto Everything!

Via Peter Schiff January 20, 2021  by SchiffGold  0   0 Peter Schiff recently did an interview with David Lin on Kitco news. Peter talked about the devaluing dollar, the stock market bubble, his investment strategy, the trajectory of the global economy, and finally, what he would do if he was president of the United States. In a nutshell,...

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Indian Gold Market Shows Signs of Revival

Via Peter Schiff January 19, 2021  by SchiffGold  0   0 India ranks as the second-largest gold consuming country in the world, second only behind China. But over the last couple of years, the gold market in India has languished due to a combination of record-high gold prices in rupee terms and the economic impacts of the coronavirus pandemic....

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Peter Schiff: Inflation Is Really a Tax

Via Peter Schiff January 19, 2021  by SchiffGold  0   0 Peter Schiff recently spoke at the January 2021 Virtual Money Show. He explained why the coming financial crisis will be much worse than 2008, and how the Federal Reserve and the US government are driving us toward this crisis with their inflationary monetary policy. Peter is well-known for...

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Peter Schiff: Economic “Rescue” Plan Like Throwing a Drowning Man an Anchor

Via Peter Schiff January 17, 2021  by SchiffGold  0   0 President-elect Joe Biden unveiled his massive stimulus plan last week touted as the “American Rescue Plan.” In his podcast, Peter Schiff said it was more like throwing a drowning man an anchor. Before Biden announced his stimulus plan, Jerome Powell spoke and reassured everybody that the Fed will...

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ETFs Charted Record Gold Inflows in 2020; Holdings Hit All-Time High

Via Peter Schiff January 17, 2021  by SchiffGold  0   0 Gold-backed ETFs recorded record net gold inflows, pushing holdings globally to record levels in 2020. On net, ETFs globally added 877 tons of gold last year worth about $47.9 billion. Gold holdings rose by over one-third, ending the year at a record 3,752 tons, according to data released...

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Spend! Spend! Spend! SchiffGold Friday Gold Wrap Jan. 15, 2021

Via Peter Schiff January 15, 2021  by SchiffGold  0   0 The US government ran the biggest December deficit in history last month and there is no end in sight to the borrowing and spending. President Biden unveiled a new $1.9 trillion stimulus plan this week. So what? Why does it matter? Can’t this “rescue the economy?” Host Mike...

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Fun on Friday: What a Find!

Via Peter Schiff January 15, 2021  by SchiffGold  0   1 I would make the world’s worst archeologist. I’m just not good at finding things. I’m the guy who stares into the cabinet right at the salt shaker and then asks his wife, “Where’s the salt.” So, yeah, a job that involved searching for stuff that has been hidden...

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2021 Says “Hold My Beer!” SchiffGold Friday Gold Wrap Jan. 8, 2021

Via Peter Schiff January 8, 2021  by SchiffGold  0   0 Everybody was happy to get 2020 behind them. We figured it can’t get any crazier. Then 2021 showed up and said, “Hold my beer!” During the first full week of 2021, we had surprise election results and protests that went sideways in Washington D.C. That produced strange reactions...

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Fun on Friday: Try Harder

Via Peter Schiff January 8, 2021  by Michael Maharrey  0   2 The last time I wrote about gold smuggling, I was impressed by the pain a man was willing to endure in order to hide gold from authorities. He literally stuck gold bars up his rear — two pounds of gold. Ouch. But today I have a different...

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The Perfidious Effects of Money Printing

Via Peter Schiff January 10, 2021  by SchiffGold  0   1 There were a number of inauspicious records set in 2020 and the impacts will continue to reverberate through the economy in the future. The Federal Reserve created money at a record rate. It also increased its balance sheet to record levels. And not to be outdone, the US...

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Minimum Wage Hikes Kick in at Worst Possible Time for Small Businesses

Via Peter Schiff January 10, 2021  by SchiffGold  0   0 The government response to the coronavirus pandemic has put extraordinary pressure on small businesses. And that pressure is about to increase thanks to yet another government action – minimum wage increases across the US. According to a study by Brookings released in September, more than 420,000 small businesses had...

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Peter Schiff: The Bond Market Is Rigged!

Via Peter Schiff January 12, 2021  by SchiffGold  0   0 You may have noticed that the financial media has started talking about inflation. But by and large, it’s not a warning. It’s reassurance. Many analysts are dismissive of any concerns raised about inflationary pressure. They often claim the bond market isn’t signaling inflation. But as Peter Schiff points out...

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Russia Holds More Gold Than Dollars for First Time in History

Via Peter Schiff January 12, 2021  by SchiffGold  0   1 For the first time ever, Russia holds more gold than US dollars. According to a Central Bank of Russia report published this week and analyzed by Bloomberg, gold made up 23% of the Central Bank of Russia’s reserves as of the end of June. The bank’s share of...

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Six Central Banks Increased Gold Reserves in November

Via Peter Schiff January 12, 2021  by SchiffGold  0   0 Six central banks added gold to their reserves in November. Purchases totaled 16.8 tons, consistent with the level of purchases in both August and September. On net, central banks were sellers globally in November, thanks to a large decrease in reserves by the Turkish central bank, according to...

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Demand for Silver in Automobile Production Expected to Rise

Via Peter Schiff January 12, 2021  by SchiffGold  0   1 Last month we reported that the surge in solar energy use could power a strong demand for silver. Now analysts say demand from another sector could also benefit the white metal. A report by the Silver Institute projects that the automotive industry will absorb nearly 90 million ounces...

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US Government Runs Biggest December Deficit in History

Via Peter Schiff January 14, 2021  by Michael Maharrey  0   3 The US government ran the biggest December budget deficit in history last month. The December budget shortfall came in at $143.6 billion. That compares with a $13.3 billion deficit in December 2019, according to the Monthly Treasury Statement. Spending continues to drive the ballooning budget deficits. Receipts...