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Tag Archives: Interest rates

The Fed “Out-Doves” Expectations While Doing Nothing

The Federal Reserve wrapped up its final Federal Open Market Committee meeting of 2019 on Wednesday doing pretty much what was expected — nothing. But in the processing of doing nothing, the central bank said a lot and managed to out-dove expectations.After cutting interest rates three times in 2019, the FOMC stood pat during its final meeting of the year, holding the interest rate steady at 1.5%.Despite the lack of action, the signals coming out of the Fed were pretty dovish. The...

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The Last Hawk Flew to Heaven

Sad moment. Paul Volcker, the former Fed Chairman went to Bank of Heaven. We are not reporting this news due to the implications for gold prices, but as an opportunity to reflect on changes in the central banking since the time of Tall Paul and on their consequences for the gold market. Tall Paul Has Gone A great man passed away. Literally. Paul Volcker – who died on Monday, probably due to prostate cancer complications, at 92 – stood 6 feet and 7 inches high, or more than 2 meters. But...

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Quantitative Easing By Any Other Name…

Stocks have pushed to record highs in recent weeks. If you read the headlines, you’d think it was all about optimism for a trade deal. Or maybe just some general bullishness on the US economy. But Peter Schiff has said that’s not the real reason stocks have continued to climb. In fact, there are a  lot of things that should be causing them to go down, but only one thing causing them to go up — the Federal Reserve.For a while, people were worried about rate hikes. Nobody is worried about...

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Inflation? What Inflation? Friday Gold Wrap Dec. 6, 2019

We’ve seen new records in the stock market in recent weeks. The headlines tell us it’s all because of a potential trade deal, but Friday Gold Wrap host Mike Maharrey doesn’t buy it. He says it’s really all about Fed money printing. That may juice the stock market, but there’s a downside – inflation. In this episode of the podcast, Mike talks about it along with the week’s gold news.The SchiffGold Friday Gold Wrap podcast combines a succinct summary of the week’s precious metals news...

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Do We Even Need the Fed? It’s Your Dime Interview With Economist Edward Stringham

Do we even need the Federal Reserve?Whether on the political left, right, or in the middle, virtually everybody thinks we do. After all, without the Fed, we’ll have wild economic swings and crashes.Economist Edward Stringham disagrees. In this It’s Your Dime Interview, he talks about it with host Mike Maharrey and makes the case that the economy would function just fine without a central bank pulling strings. In fact, as he explains, the Fed actually stirs up economic chaos.In this...

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A Silver Lining: SchiffGold Friday Gold Wrap Nov. 22

It’s been a pretty dreary week on Wall Street with another round of trade war pessimism. Otherwise, there hasn’t been a lot of economic news to roil markets and precious metals have remained pretty much rangebound. But host Mike Maharrey has a silver lining for you on this episode of the Friday Gold Wrap podcast, along with a little Fed analysis.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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Peter Schiff: It’s the Fed’s Fault!

Jerome Powell lectured Congress about the national debt last week, calling it unsustainable. The Federal Reserve chairman is concerned. He admitted that with interest rates already close to zero, the central bank has very little room to cut rates in the event of an economic downturn. Peter Schiff appeared on the Claman Countdown, along with Milken Institute economist Bill Lee to talk about Powell’s comments.Peter said that while Powell is lecturing Congress, it’s really the Fed’s fault....

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Inflation’s Up; So What?

Here’s a strange headline for you: “Gold prices near daily highs despite better-than-expected inflation in October.”This headline is bizarre on a couple of levels. First, since when are rising consumer prices and good news? And second, why inflation be good for gold?You really have to buy into the mainstream narratives to write that headline.Consumer prices did, in fact, come in higher than expected in October, according to the latest Labor Department report. The Consumer Price Index...

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Powell Lectures Congress About Government Spending the Fed Facilitates

Fiscal 2020 started just like fiscal 2019 ended – with a massive federal budget deficit. And that has Federal Reserve Chairman Jerome Powell worried. In an ironic bit of political theater, Powell lectured Congress about the spending he helps facilitate.The budget shortfall last month was 34% higher than the October 2018 deficit, coming in at $134.5 billion, according to the latest Treasury Department report. That starts fiscal 2020 off on track to eclipse a $1 trillion deficit.The October...

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The scary truth about Fed rate cuts

“What is going on with the world economy?” That’s how Mike Maloney begins his new video, which is actually not about the economy, per se, but about currency abuse, interest rate cuts, and a big fat warning about the coming recession. Mike starts with a slide he’s shown before, US currency creation, but he revisits the topic so he can compare it to Switzerland. In response to the financial crisis, the US created about five times the original amount of its currency—but the...

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