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Tag Archives: Key Gold Headlines

The Stock Market Is Completely Untethered From Economic Reality

We’ve been saying for months that the stock market has completely disconnected from economic reality. The markets have hit record highs despite the economic chaos caused by the government response to COVID-19. As Peter Schiff put it in a podcast back in May, the markets are on a Fed-induced sugar high.In a recent article, David Stockman put the stock market bubble into perspective and asked a poignant question: how could the S&P 500 be trading at its highest multiple in 70 years when...

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Ranks of the Long-Term Unemployed Growing

The mainstream spin on unemployment is that things are improving. The unemployment rate is coming down. The number of weekly jobless claims recently fell below 800,000 for the first time since government lockdowns in response to the pandemic went into high gear last March. But there are some troubling signs that undercut this good-news narrative. The number of long-term unemployed workers is steadily rising.The ranks of the long-term unemployed – those out of work for 27 weeks or more –...

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Rickards: Why Gold?

Why gold?In a recent article, Jim Rickards offers three reasons the biggest gains in gold prices are yet to come.We are currently in the midst of the third great gold bull market since President Richard Nixon severed the last ties between the dollar and gold.The first was 1971 to 1980 when the price of gold rose 2,200%. The second ran from 1999-2011 as gold rose 760%. The third gold bull market began in December of 2015 when gold bottomed at $1,050 after making a record high just above...

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Wave of Corporate Mergers Could Put More Americans Out of Work

Last week, we reported on the number of temporary layoffs that are turning into permanent job losses.  Now Goldman Sachs is projecting even more permanent job losses coming down the pike as a wave of mergers, acquisitions and corporate takeovers sweeps through the economy.Goldman Sachs Group president John Waldron warned that we’re going to see more big businesses doing better, but there will be more job losses along the way as large corporations look to consolidate smaller companies.You...

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Central Bank Digital Currencies: Another Front in the War on Cash

There has been a lot of talk lately about central banks implementing their own digital currencies.Why?As economist Daniel Lacalle notes, most transactions conducted using the world’s primary currencies are already electronic. In practice, the US dollar, the yen, the euro, the Swiss franc and the yuan already function as digital money. So why the rush to create new central bank digital currencies?Simply put, this is another front in the war on cash.And that means it’s about control.As...

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Silver Investment Demand Nearly Triples Through First Three Quarters of 2020

Holdings of silver in silver-backed Exchange-Trade Products (ETPs) rose by 297 million ounces through the first three quarters of 2020, according to data released by the Silver Institute. That’s nearly triple the level of silver inflows seen during the same period in 2019. Meanwhile, investors also had a strong appetite for silver bullion coins and bars.In a press release, the Silver Institute said, “Overall, this reflects both silver’s role as a safe haven asset and as a leveraged play on...

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Why Do We Put So Much Faith in Central Bankers?

Well-known management consultant Peter Drucker perfectly described the predicament faced by central bankers.You can’t manage what you can’t measure.”So why do we put so much faith in central bankers?Initially, central banks were conceived as the lenders of last resort for the banking system, but in the words of economist Pascal Hügli, they have mutated into “dealers of last resort.” They are the fire department called in to put out the world’s economic fires.The Federal Reserve’s response...

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2020 Budget Deficit Comes In at a Cool $3.13 Trillion

The fiscal 2020 budget shortfall totaled $3.13 trillion as Uncle Sam added another $124.6 billion to the deficit in September, according to the latest Monthly Treasury Statement.That more than doubles the previous record deficit of $1.4 trillion set in 2009 at the height of the Great Recession. The fiscal year ended on Sept. 30. Revenues were basically flat on the year, falling slightly from $3.46 trillion in FY2019 to $3.42 trillion. But total spending soared, coming in at $6.55 trillion....

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“Temporary” Layoffs Turning Into Permanent Job Losses

When governments across the US forced businesses to close down in response to the coronavirus pandemic, everybody assumed the layoffs would be temporary. Despite the huge surge in unemployment, the expectation was people would quickly return to work once the crisis passed and the economy opened up again. But as the pandemic stretches into its eighth month, millions of Americans remain out of work and economists say many of those “temporary” job losses have become permanent.Millions of...

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Goldman Sachs: Dump Dollars and Buy Silver

Sell dollars and buy silver. That’s Goldman Sachs’ recommendation.Peter Schiff has been warning about a dollar collapse and now the mainstream is even getting bearish on the dollar.In response to the economic shutdowns imposed by governments to deal with the coronavirus pandemic, the Federal Reserve is printing money to infinity and beyond.  On top of that, it has shifted its inflation targeting to allow inflation to run hot meaning there is no end in sight to the currency debasement. This...

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