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China added another 19 tons of gold to its reserves in December, continuing a buying spree analysts expect will continue through 2016. Since announcing its reserves for the first time in six years last summer, the People’s Bank of China (PBOC) has steadily added to its hoard. The PBOC added 14 tons in October, 15 […]
In a recent interview on CCTV America, Peter Schiff discussed the debt crisis in Puerto Rico and whether the US should bail out the struggling territory. The Puerto Rico Infrastructure Financing Authority went into default earlier this month, fueling speculation that the US should help with a bailout. But Peter argues that is the wrong […]
Nobody really seemed to pay a whole lot of attention to the bombshell dropped by the former president of the Federal Reserve Bank of Dallas, but Peter Schiff picked up on it. Richard Fisher essentially admitted that the Fed manufactured the stock market recovery. Peter talked about it on his podcast. [He]was on CNBC yesterday. […]
On Kitco News yesterday, Peter Schiff put the past three years of falling gold prices in perspective. He emphasized that gold’s recent performance should be considered in the larger picture of a gold bull market that began in 1999. It has simply been investor assumptions and speculation about an improving economy that allowed gold’s correction […]
The Silver Institute has released its December issue of Silver News. This edition spotlights falling silver supply and soaring silver bullion coin demand. Total silver supply is forecast to fall to 1,014.4 million ounces in 2015, down 3% from the previous year. At the same time, silver bullion coin sales reached a fresh record high […]
The new year began with a bang that made Wall Street whimper as stocks sold off on the first Monday of 2016. The Dow suffered its worst opening day of the year loss since 2001. As Peter Schiff pointed out in his podcast, this doesn’t bode well for the upcoming year. There’s an old saying, […]
The Federal Reserve Bank of Atlanta’s GDPNow estimate released today forecast a dismal 4th quarter GDP number. The forecast was nearly cut in half from 1.3% on December 23rd to 0.7% today. It remains much worse than the mainstream consensus estimates: Here’s what the Atlanta Fed had to say, citing the same manufacturing numbers Peter […]
Jim Grant agrees with Peter Schiff that the Federal Reserve cannot continue to raise interest rates in 2016. On CNBC today, Grant explained his reasoning for why the Fed will regret raising rates in December and reverse its course of action: It seems to me that the Fed is more likely to go to zero […]
A recent New York Times feature went to great lengths to promote the idea of a cashless society, focusing on the war on cash in Sweden. The Nordic country sits on the cutting edge of the movement away from cash. As the Times put it, cash is so “last century”: Few places are tilting toward […]
Wall Street ended the year on a sour note and wrapped up 2015 down on the year for the first time since 2008. Peter Schiff believes this is just a sign of things to come. He’s been saying consistently that the December Federal Reserve rate hike was likely a one-time deal with another round of […]
