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Tag Archives: inflation

Growing Dollar Demand, Silver Weirdness, Market Report, 15 June

The Federal Reserve has become more aggressive again, after several years of acting docile. As you can see on this chart of the Fed’s balance sheet, it has very rapidly expanded from a baseline from (prior to) 2015 through 2018, of about $4.4 trillion. After which, it had attempted to taper, getting down to $3.8 trillion last summer. Then it was obliged to reverse itself well before responding to the COVID lockdown. Since then, its balance sheet has gone vertical. More is expected to come....

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Dear Government: This Is Not Helpful

After the stock market tanked last week, the Trump administration tried to do damage control and talk the economy back up. In his podcast, Peter Schiff said the damage control fell flat. In fact, everything the government is doing claiming to help isn’t helping at all. After what seemed like weeks of optimism, the bottom fell out of the markets on Thursday. The Dow Jones had its worst day since March, plunging over 1800 points. Some of the pessimism stemmed from Federal...

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What Can’t Go On Forever Doesn’t: SchiffGold Friday Gold Wrap June 12, 2020

The Federal Reserve met this week and promised to keep pumping out monetary stimulus indefinitely. Meanwhile, the US government added another trillion dollars to the national debt in just 35 days even as the president and congressional leaders talk about more fiscal stimulus. In this week’s Friday Gold Wrap podcast, host Mike Maharrey talks about the ramifications of all this endless stimulus and reminds us that what can’t go on forever, doesn’t. He also covers the week’s ups and downs in...

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Peter Schiff: How to Avoid Getting Wiped Out by the Inflation Tax

Peter Schiff recently appeared on Mark Dice’s show to talk about the looming financial crisis. Peter explains why a dollar crash is on the horizon and what the average person can do to keep from getting wiped out by the inflation tax.In the months leading up to the 2008 financial crisis, Peter warned it was looming. Today, he is warning about the far greater financial crisis that is going to finally result from the giant bubble that the Federal Reserve and government policy pumped up in...

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Peter Schiff: Silver Is Poised to Set Records

Last week, Peter Schiff appeared on to talk about precious metals and the state of the economy. He said not only are the economic dynamics bullish for gold, but silver is also poised to break records.At the time of the interview, gold and silver prices were both under pressure as the stock market continued to rally due to optimism for a quick recovery as governments begin lifting coronavirus restrictions. Peter noted that there was selling in most safe-haven markets,...

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Peter Schiff: The Rising Stock Market Is Not a Sell Signal for Gold

US stock markets continued their inexplicable rally despite the economic destruction wrought by the coronavirus-induced shutdown. The S&P500 is only down about 3.5% on the year and the NASDAQ is actually up. As a result, a lot of investors seem to be getting out of safe havens, including gold. But in his podcast, Peter Schiff explains why selling gold is a mistake if you understand what’s really going on. In a nutshell, stocks are rising because the Fed is printing money. And no matter...

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Quotation of the Day…

… is from page 345 of the original edition of James M. Buchanan’s 1960 textbook, The Public Finances (a book that isn’t included in Buchanan’s Collected Works): The problem is precisely that of locating the individual or group of individuals who does “pay for” the benefits secured from the public outlay, quite independently of whether or not the outlay itself is productive or unproductive. Debt issue tends to shift this burden of payment onto the taxpayer in periods subsequent to the...

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Hummel on Whether to Expect Higher Inflation

About a month ago, I called Jeff Hummel, a monetary economist and economics professor at San Jose State University, to ask him whether he thought there would be a substantial increase in inflation due to the substantial drop in real GDP with no drop in the money supply. MV = Py. M increases, y falls, and so P (the price level) must rise, assuming V is relatively constant. As you’ll see below, V has fallen, which means that maybe P doesn’t have to rise much. I had a...

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Peter Schiff: The Fed Won’t Get Away With It This Time

The Federal Reserve and the US government are rerunning the exact same policies they turned to in the wake of the 2008 financial crisis, but on a much grander scale. We have bigger QE, more money printing, more government spending and bigger deficits. During his podcast, Peter Schiff said it was a mistake then, but they got away with it. They won’t get away with it this time.A lot of people still believe we will flip a switch, the economy will fire right back up and everything will just...

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How should we evaluate policy?

Here’s Tyler Cowen: The Fed thus could make an error on either side of its target, through no procedural fault of its own. As a result, as a simple matter of logic, the rate of price inflation could be too high, or it also could be too low. if you think you know the direction of the error in advance, you aren’t paying enough attention to the underlying unpredictable uncertainties. If by “know” Tyler means, “know with certainty” then he is correct. But while we may not...

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