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Tag Archives: Federal Reserve

Renewed Calls to Dethrone the Dollar

Last year, we reported extensively on a push toward de-dollarization by countries like Russia and China and their desire to undermine the ability of the US to weaponize the dollar as a foreign policy tool. Europe was even starting to push to dethrone the dollar as the reserve currency.With the Federal Reserve running the dollar printing press at full speed and the US government expanding the national debt into the stratosphere, there are renewed calls for a currency to replace the dollar...

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A Did Not Cause B

A = coronavirus. B = economic meltdown.A caused B.That’s the mainstream narrative when it comes to the economic pain we’re feeling right now.But in reality, A did not cause B. B was in the works long before A came along.Of course, the mainstream never recognized the rot in the economy a few months ago. In fact, everything thing looked glowing on the surface. As economist Mark Thornton reminds us in an article published on the , on February 10, a mere 10 weeks ago, stock markets were at...

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Big Government Crippled the Economy

It seems like everybody is getting a bailout right now. The government is handing out money it doesn’t have left and right. This is all justified because of coronavirus. Even conservatives who normally oppose government bailouts have jumped on the stimulus train. “This is a crisis!” they cry. The government has to step in. But as Peter Schiff explains in his podcast, the government crippled the economy in the first place. A government crutch isn’t the solution to the problem.Even with 26...

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Peter Schiff: Gold Mines are Literally Gold Mines

Earnings reports started coming in last week. It was a mixed bag, with some companies showing the negative impacts of the coronavirus-induced government shutdowns, but other companies coming in more upbeat. Peter Schiff appeared on to talk about it. He said the only thing the stock markets have going for them right now is the Federal Reserve. But one sector will truly benefit – gold. Peter said it doesn’t surprise him that some companies are benefitting from coronavirus.Obviously, if...

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Live Your Hopes, Not Your Fears: SchiffGold Friday Gold Wrap April 24

It was another crazy week on Wall Street with a lot more economic doom and gloom, punctuated by a complete meltdown of the oil futures market. In this week’s Friday Gold Wrap podcast, host Mike Maharrey talks about some of the highlights – or lowlights – but he also injects a little optimism into the conversation and offers some constructive advice. The SchiffGold Friday Gold Wrap podcast combines a succinct summary of the week’s precious metals news coupled with thoughtful analysis. You...

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Fed Cut Back on Helicopter Money for Wall Street & the Wealthy

Tapered QE-4 Further, Still Hasn’t Bought Junk Bonds or ETFs, Was Just Jawboning. By Wolf Richter for WOLF STREET. Total assets on the Fed’s balance sheet rose by $205 billion during the week ending April 22, to $6.57 trillion. Since the week ending March 11, when the bailout of the Everything Bubble and its holders began, the Fed has printed $2.26 trillion. But the $205 billion increase was the smallest increase since the mega-bailout began with its Sunday March 15 announcement. The...

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Peter Schiff: Gold Is the No-Brainer Investment

Why is the mainstream financial media mostly ignoring gold? Peter Schiff talked about it in a recent podcast. He said the investment pundits are missing the boat on a “no-brainer” investment.The stock market has continued its pattern of wild swings this week. The Dow Jones was up 456 points on Wednesday after a better than 600-point drop on Tuesday. But Peter pointed out that one market sector has done consistently well of late – gold stocks. In fact, GDX has doubled over the last month....

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The Fed Can’t Print Gold

The mainstream just went super-bullish on gold.Bank of America raised its 18-month price target to $3,000 per ounce in a report titled, “The Fed Can’t Print Gold.”BoA was already pretty bullish on the yellow metal, forecasting a record $2,000 per ounce within the next year-and-a-half.  According to a report released by the bank upping that projection, the vast amount of fiscal and monetary stimulus unleashed by central banks globally will likely drive gold higher. The report said,...

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Peter Schiff: The Great Inflation Debate

Peter Schiff recently appeared on Newsmax with David Scranton to talk about the impacts of the coronavirus government shutdown on the economy. The segment turned into a somewhat contentious debate about inflation. Guest host Jeff Small insisted we aren’t going to see price inflation, despite the Federal Reserve creating trillions of dollars out of thin air. Peter said Small’s ideas are divorced from economic reality.The interview started off on a less contentious note. Scranton pointed...

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What the Heck Happened to Oil?

The price of oil turned negative on Monday for the first time in history.Of course, that doesn’t mean that somebody will soon pay you to put gas in your car. We’re talking about the price of oil futures contracts. Nevertheless, it does indicate just how out of whack the oil market has become.In a nutshell, there is too much supply and demand has plummeted with everybody at home watching Netflix. Meanwhile, storage capacity is maxed out.An oil future contract is a promise to deliver a...

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