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Dollar’s Share of Global Currency Reserves Hits Lowest Level in Over 25 Years

Last week, we reported that the Russian National Wealth fund was dumping dollars and turning toward gold. The Russians have engaged in an intentional de-dollarization policy for several years. But it appears this could be part of a broader global move away from the greenback.The dollar’s share of global currency reserves dropped significantly in the fourth quarter of 2020, falling to its lowest level in 25 years according to recently released IMF data. Globally, the dollar now makes up...

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Russian National Wealth Fund Turning to Gold, Dumping Dollars

The Russian Finance Ministry has given the green light for the Russian National Wealth fund to diversify and invest in gold and other precious metals. According to a report by , this is part of a broader move to de-dollarize the wealth fund.The National Wealth Fund falls under the direction of the Russian Finance Ministry. One of the fund’s primary purposes is to support the nation’s pension system. According to the fund’s website, “Fund’s primer assignments are to co-finance voluntary...

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At Some Point You Gotta Pay the Piper: SchiffGold Friday Gold Wrap March 26, 2021

Every time the economy gets into trouble, governments and central banks react the same way. They slash interest rates and loosen monetary policy.  This gooses the economy — temporarily. But when the next crisis comes, it takes an even bigger dose of extraordinary monetary policy to revive the economy. The Fed has pushed things into the future several times, but as Friday Gold Wrap host Mike Maharrey explains, at some point you’ve got to pay the piper. In this episode, he also discusses...

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Peter Schiff: When Paul Krugman Talks, Nobody Should Listen

The latest Biden/Democrat stimulus bill is just the beginning. There is more government spending coming down the pike. That means more money printing. But Paul Krugman says not to worry. It didn’t cause a big jump in CPI last time and it won’t this time either. Peter Schiff talked about it in his podcast. He said when Krugman talks – nobody should listen.With the ink barely dry on a $1.9 trillion stimulus bill, reports are circulating that the Biden administration is about to unveil...

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Peter Schiff: The Fed Will Wave the White Flag at Inflation

Peter Schiff recently appeared on RT to talk about inflation, the Fed and gold. He said a lot of people still think the Fed will soon tighten monetary policy to deal with rising inflation pressure. But they’re wrong. Ultimately, the Fed is going to surrender to inflation without a fight. When the markets realize this, the dollar is going to crash through the floor and gold is going through the roof.Gold had a little bit of a rebound late last week before giving back some of those gains...

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Peter Schiff: The Only Thing the Economy Has Going for It Is the Fed

Last week, Peter Schiff appeared on to talk about the Federal Reserve’s increasing dovishness. He said despite all of the assurances from Jerome Powell that the central bank’s monetary policy isn’t stoking inflation, the economy and the dollar are both at risk for collapse. The Fed is the only thing standing in the way and it can’t stand there forever.During this interview, Peter also touched on his recent Twitter debate with Elon Musk about bitcoin.Jerome Powell claims that the Federal...

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Peter Schiff: The Reality Nobody Wants to Acknowledge

Interest rates continue to rise. Gold continues to languish. The stock market bubble continues to inflate. In his podcast, Peter Schiff argues that investors are reading the tea leaves all wrong. They think rising rates are going to force the Fed to tighten monetary policy sooner than expected. But Peter says there is a reality out there that nobody wants to acknowledge.Early Wednesday morning, long-term interest rates spiked. The yield on the 10-year Treasury pushed to...

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Peter Schiff: Signs of Inflation

Last week, Federal Reserve Chairman Jerome Powell said he wasn’t worried at all about inflation. But there are signs that inflation is heating up everywhere, from surging commodity prices to rising bond yields. In his podcast Friday (Feb 12) Peter Schiff talked about increasing inflation and the unreasonable expectations Wall Street has when it comes to the Fed’s willingness or ability to do anything about it.Commodity prices and bond yields continue to climb. On Friday,...

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The Inflation Tax Is Lowering Our Standard of Living

In a podcast, Peter Schiff said it smells like stagflation is on the horizon. Inflationary pressures are becoming more and more apparent. Labor costs, commodity prices and bond yields are all pushing upward – clear signs of inflationary pressure. And of course, defined correctly – as an increase in the money supply – there is no denying inflation is rampant. We saw a record increase in the money supply last year. The only time that even comes close was the stagflationary period of the...

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Peter Schiff: All of This Smells Like Stagflation

We ended last week with some weaker than expected economic data – particularly the jobs numbers, but the stock market continues to go up. These days, the mainstream reacts to everything as good news. No matter what the data suggests, everybody seems to think things will come up smelling roses because of stimulus. But in a recent podcast, Peter said all of this smells more like stagflation.Peter said at this point, it doesn’t really matter whether the economic data is...

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