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Peter Schiff: Government “Help” Is Not Helping

The stock market is booming as everybody anticipates an end to the coronavirus pandemic with the rollout of a vaccine. But as Peter Schiff pointed out in this podcast, the rally isn’t really about a cure for COVID. It is being driven by government and central bank policies meant to shield us from the pain of the pandemic. The problem is this government “help” really isn’t helping. In fact, it’s made a bad situation much worse.The Dow Jones was up 11.8% last month. It was...

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17 Million Americans Behind on Mortgage or Rent Payments

Even as market mania continues over hopes for a coronavirus vaccine, the economic devastation caused by the government response to the pandemic continues to ravage the economy.  Seventeen million households are behind on rent or mortgage payments, and nearly 6 million Americans say they are at risk of eviction in the next few months.According to a survey by the US Census Bureau, roughly 5.8 million adults say they are somewhat to very likely to face eviction or foreclosure in the next two...

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Why Pierre Lassonde Thinks We Could See $15,000 Gold (Video)

Pierre Lassonde has said gold could skyrocket to $15,000 to $20,000 an ounce as the Dow-to-gold ratio falls to 1-to-1. Has his view changed?Lassonde is the founder of Franco-Nevada Mining Corporation. He recently sat down with Daniela Cambone to talk about the state of the gold market. He said not only can he still see a path to $15,000 gold, he now sees the catalyst that could take bring the price of gold into parity with the Dow — massive government debt in response to COVID-19. During...

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Gold Stands the Test of Time

Peter Schiff spoke with Jay Martin backstage at the Cambridge Gold Summit. During the discussion, Peter and Jay took a step back from the immediate market volatility and news of the day to look at the big picture. Gold was a topic of discussion and Peter emphasized that the yellow metal has stood the test of time when it comes to preserving wealth.Jay and Peter started the discussion by talking about the presidential election. Peter said on the margin, the person in the White House might...

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Market Mania! SchiffGold Friday Gold Wrap Nov. 27, 2020

The Dow Jones cracked 30,000 this week and stocks continue to surge generally upward as investors are embracing risk-on sentiment based on high hopes a vaccine may put an end to the coronavirus pandemic. But there’s more to it than that. In this episode of the Friday Gold Wrap podcast, host Mike Maharrey takes a deeper look at what’s really driving this market mania, and he also takes down the myth that printing more money means more wealth.The SchiffGold Friday Gold Wrap podcast combines...

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Peter Schiff: The Real Villain Is the Fed

We’re approaching all-out market mania with optimism about a COVID vaccine and the ensuing economic renaissance that many seem convinced is right around the corner. On Tuesday (Nov. 24) the Dow Jones closed about 30,000 for the first time.On his podcast, Peter Schiff talked about the big stock market rally. He said it’s not really about the presidential election, or the COVID vaccine, or excitement about Joe Biden. The rally is all about the Federal Reserve. And it always has...

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Money Is Not Wealth

When governments started locking down the economy in response to coronavirus, the Federal Reserve sprung into action. First, it slashed interest rates to zero. Then it quickly launched what we’ve dubbed QE infinity. In effect, that meant printing trillions of dollars out of thin air and pumping them into the economy.Meanwhile, the US government did its part, passing a massive stimulus bill – pumping trillions of dollars of borrowed money into the economy. Of course, the Fed monetized a big...

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How the Fed Feeds the Boom-Bust Cycle

The central bankers at the Federal Reserve can be pretty clueless. A report issued by the Fed a few weeks ago serves as a prime example. The report was full of dire warnings. It expressed concern about “overvalued asset prices.” Yes, the Fed actually warned us about the stock market bubble. The report also said we should be worried about the surging levels of debt in the economy. “As many households continue to struggle, loan defaults may rise, leading to material losses,” the Fed report...

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The World Has Racked Up $277 Trillion in Debt

How do you even begin to visualize $277 trillion? If we convert it into seconds, 277 trillion is the equivalent of 8.8 million years. I’m not sure what was happening that long ago, but I guarantee you it didn’t involve people. It’s been estimated that Jeff Bezos increases his net worth by about $321 million a day. At that rate, you’d have to work for close to 863,000 days, or 2,364 years, to reach $277 trillion.  You get the point. It’s an unfathomable sum. It’s also the total amount of debt...

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Stealing Our Savings: SchiffGold Friday Gold Wrap Nov. 20, 2020

The stock market continues to climb on coronavirus vaccine hopes. But why should it? After all, it didn’t sell off because of the pandemic. It’s at record levels despite COVID-19. In this episode of the Friday Gold Wrap podcast, host Mike Maharrey explains why this really isn’t about a vaccine. He also talks about one of the pernicious effects of this super-loose monetary policy – the theft of our savings.The SchiffGold Friday Gold Wrap podcast combines a succinct summary of the week’s...

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