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Americans continue to bury themselves in debt. US consumer credit rose by the largest amount in 11 months in October, as Americans piled on another $25.4 billion in debt, according to the latest consumer credit report by the Federal Reserve. Total consumer indebtedness is rapidly approaching $4 trillion, with Americans currently $3.96 trillion in the […]
November’s jobs numbers came out Friday weaker than expected. Trump’s twitter feed was strangely silent on the jobs report. Generally, he likes to tout unemployment as an accomplishment, even though he poo-pooed the same numbers when he was campaigning against Obama. As Peter Schiff pointed out in his most recent podcast, the official numbers significantly understate […]
A strong dollar in recent months has created the biggest headwinds for gold. But will dollar strength continue? Most foreign currency traders recently polled by Reuters don’t think so. Reuters surveyed more than 60 currency analysts and the consensus was that the dollar would be weaker against major currencies in a year. The exchange strategists say slowing economic […]
Did you hear about Kylie Jenner’s gold Christmas tree? I didn’t either. Well, I guess I did. But not on purpose. I was doing my normal morning search for gold news when I stumbled on a few stories about the celeb’s tree. Apparently, people do follow this stuff on purpose, and Kylie’s trees are a […]
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.
Gold holdings in gold-backed ETFs rose for the second straight month and turned positive for the year in November. According to a report by the World Gold Council, 21.2 tons of gold, valued at about $804 million, flowed into ETFs last month. Total global holding rose to 2,365 tons.
Peter Schiff appeared on RT Boom Bust earlier this week to talk about the trade war “truce” between the US and China. The announcement that there was some progress in resolving the trade war during the G20 summit boosted stock markets on Monday (the day this segment was aired), but that lasted all of one […]
World Gold Council chief market strategist John Reade projects healthy demand for physical gold in 2019 and said any kind of economic slowdown could boost demand — and the price — significantly.
The stock market got a nice bump on Monday with the news that there was a “truce” in the trade war. That lasted all of one day. The markets tanked on Tuesday as investors realized the “truce” really didn’t mean anything. The Dow Jones plunged 799 points, a 3.1% drop. The S&P 500 declined 3.2%, […]
We talk a lot about bubbles in the economy. Over the last few weeks, we’ve discussed the stock market bubble, the housing bubble, the auto bubble and the debt bubble. Nick Giambruno simplifies things in an article he recently wrote for the International Man. He just calls it the “everything bubble.” And he says it will […]
