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Tag Archives: Money

Peter Schiff: The Gold Standard Didn’t Fail

The mainstream thinking is the gold standard failed. But as Peter Schiff explained in his podcast, the gold standard didn’t fail. We failed to stay on the gold standard.The gold standard succeeded so well that the government went off of it.”One of the features of a gold standard is that it keeps governments honest. It imposes monetary discipline. Many of America’s most influential founders opposed fiat paper money. Thomas Paine wrote, “the “evils of paper money have no end.” Thomas...

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Debasing Your Money Is the Moral Thing to Do?

It’s become increasingly hard to hide the inflation problem. Even without the sizzling hot CPI numbers, the average American experiences rising prices every day at the grocery store and the gas station.With it becoming harder and harder to blow inflation off as transitory, apologists for the central bank and the federal government have shifted to a new strategy — try to convince you that inflation is good for you.For instance, there is the argument that that inflation is ultimately good...

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Christmas Gifts: Cash Is Not Necessarily Optimal

Economists are often suspicious of gifts in kind, arguing that the same money value in cash provides more “utility” to the recipient (puts her in a more preferred situation) because she can use the cash to buy what is on top of her preference scale (her “utility function” in economics). If you don’t buy the gift that she would have bought for herself, your gift is worth less to her than what you paid for. (See Joel Waldfogel, “The Deadweight Loss of Christmas,”...

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You Call This Transitory? SchiffGold Friday Gold Wrap Nov. 12, 2021

The October Consumer Price Index data came out this week. They expected it to come in hot. But not this hot. In this episode of the Friday Gold Wrap podcast, host Mike Maharrey digs into the CPI numbers, along with another inflation index that looks even worse, and he wonders out loud how anybody can still buy into this “transitory” inflation narrative. The SchiffGold Friday Gold Wrap podcast combines a succinct summary of the week’s precious metals news coupled with thoughtful analysis....

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The Future of Money (Expert Line Up)

Recently, I had the pleasure of hosting a panel on The Future Of Money at the New Orleans Investment Conference.  It had an absolute killer line-up: Jim Rickards, Danielle DiMartino Booth, Jon Najarian and Russell Gray. As expected, the level of financial expertise and Gigawatt-level idea exchange that ensued was off-the-charts amazing. We covered the spectrum: inflation/deflation, future central bank policy, cryptos & CBDCs, and recommendations for protecting the...

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What Is Inflation?

When we talk about “inflation,” most people immediately think about rising prices. That is indeed one of the effects of inflation. But that isn’t inflation itself. Properly defined, inflation is an increase in the money supply. In fact, that used to be the standard definition of inflation. Over time, the government has changed the definition. Today, pretty much everybody defines inflation as rising prices.Peter Schiff explained why the government wanted to redefine inflation.Then it can...

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The Mainstream Has the Inflation Story Backwards

The mainstream blames inflation on “supply chain bottlenecks.” But they have it completely backward. In reality, Federal Reserve-created inflation is causing the supply chain mess.According to Biden administration talking points, the economy is booming. Americans are flush with cash. And they are demanding lots of goods. The supply chain simply can’t keep up. That’s why we’re seeing empty shelves and rising prices. Transportation Secretary Pete Buttigieg summed up the mainstream...

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Ask Mike Anything: SchiffGold Friday Gold Wrap Oct. 22, 2021

In this episode of the Friday Gold Wrap podcast, host Mike Maharrey answers listener questions. Some of the topics covered include bitcoin, fractional reserve banking, the silver/gold ratio, gold as a safe haven, precious metals in a crisis, and more. The SchiffGold Friday Gold Wrap podcast combines a succinct summary of the week’s precious metals news coupled with thoughtful analysis. You can subscribe to the podcast on iTunes and Stitcher.Tune in to the Friday Gold Wrap each week for a...

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Fun on Friday: The $1 Trillion Coin

Have you heard the latest news on the fake debt-ceiling fight?The Senate has approved a measure to kick the can down the road a couple of months. So, the “fight” will continue!The $480 billion increase raises the debt limit to $28.9 trillion, but that’s only going to last until Dec. 3. That means we have time for more political theater. Yippee!It’s so silly because there’s a 100% chance that the debt ceiling is going to be raised.Meanwhile, Treasury Secretary Janet Yellen wants to just...

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Fiat Money, Deception and Lies

Inflation continues to run rampant, eroding our purchasing power even as policymakers continue to tell us there’s nothing to worry about. The US government continues to run up unfathomable levels of debt. We continue to endure a repeating cycle of booms and busts as Fed and US government policies blow up bubbles that inevitably pop.It’s easy to get caught up in the news of the day and look at these issues in isolation, but there is one factor that ties them all together – fiat money. As...

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