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Federal Reserve Chairman Jerome Powell insists inflation is “transitory.” As prices have spiked throughout the economy, Powell’s messaging has essentially been, “Move along. Nothing to see here.” Peter Schiff has been saying the central bankers at the Fed can’t actually tell the truth about inflation because even if they acknowledge it’s a problem (and it […]
Americans consume goods other people produce. As America offshored its manufacturing, it promised to supply the world with high-priced services and technology in exchange. But as it turns out, that promise never materialized. The ballooning overall trade deficit bears this out. It leaped to another record high in March, surging 5.6% month-on-month to a new […]
Central banks globally added a net 79.5 tons of gold to their reserves in March, led by a major purchase by Hungary, according to the latest data compiled by the World Gold Council.
Everybody expected the jobs report last Friday to show a big increase in employment. It didn’t happen. Instead of the 978,000 new jobs created in April that economists expected, nonfarm payroll increased by just 266,000. On top of that, the Labor Department revised the March number down from 916,000 to 770,000. The unemployment rate ticked […]
If you are a regular Fun on Friday reader, you know I love sports. Hockey is my favorite followed by football. My favorite teams are the Tampa Bay Lightning and the Tampa Bay Buccaneers. Well, all of those worlds collided in a moment of sports harmony this week. Tampa Bay Buccaneers tight end Rob Gronkowski […]
Treasury Secretary Janet Yellen did a big flip-flop this week. Her comments and her subsequent attempt to walk them back were telling. She accidentally revealed the ugly truth about inflation and the central bank’s ability to deal with it. In this episode of the Friday Gold Wrap, host Mike Maharrey takes Yellen to task. He […]
Silver investment demand surged in 2020 in the midst of the coronavirus pandemic, according to the feature story in the most recent edition of the Silver Institute’s Silver News. Holdings in silver-backed ETFs tripled last year, surpassing 1 billion ounces for the first time. Meanwhile, investment in physical silver also saw a healthy increase. Silver […]
Inflation is the word of the day. We’ve been talking about inflation for months, but now the mainstream is starting to pay attention to rising prices. In corporate board rooms, board members are talking about passing along their increased costs to their customers. Consumers are trying to tighten budgets. But the Federal Reserve keeps telling […]
Arkansas Gov. Asa Hutchinson recently signed a bill into law exempting gold and silver bullion and coins from sales tax. This will not only relieve some of the tax burdens on investors in the state; it will also take a step toward treating gold and silver as money instead of as commodities.
Treasury Secretary Janet Yellen sent markets into a tizzy on Tuesday when she said interest rates may have to rise to keep the economy from overheating with all the government stimulus. But later in the day, she walked those comments back, claiming inflation isn’t going to be a problem and insisting that she wasn’t suggesting […]
