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With many mining companies in the red, analysts expect gold production to drop for the first time since 2008. According to a Bloomberg report, the anticipated drop in production follows a global surge. Gold output jumped 24% in a decade to a record 3,114 metric tons in 2014, according to data from industry researcher GFMS.
The the Bank of Russia bought 1 million ounces of gold in August alone. That boosted the country’s gold reserves to 42.4 million ounces as of Sept. 1, according to an announcement by the bank last Friday. The value of the central bank’s holdings rose to $47.68 billion from $44.96 billion a month earlier. The […]
On CNBC this afternoon, Peter Schiff got into another heated confrontation with Scott Nations about the Federal Reserve. Peter defended his record concerning Fed rate hikes, as well as his long-term advice to buy physical gold. Meanwhile, all Nations could turn to as proof of a coming rate hike in 2015 were unemployment figures. But […]
The demand for physical silver rose through the first half of 2015. The need for silver in manufacturing, its expanding use in health applications, and increased demand for silver jewelry all helped drive the surge. According to GFMS Thomson Reuters, the precious metals consultancy, imports of silver into the United States jumped 11% through the […]
Our readers often ask tough questions about the economy, monetary policy and precious metal markets. During a recent interview, Gold Standard Institute USA president Keith Weiner provided some insightful and clear-cut answers to some of the complex issues facing us today. Weiner was first asked to pinpoint the root of today’s economic mess. He summarized […]
Thus far, the so-called economic recovery has done little to improve the lives of everyday Americans. In yet another sign that the recovery is an illusion, figures released last week and reported by Reuters show American’s household income lost ground last year. The data released by the U.S. Census Bureau on Wednesday, which showed the […]
Just as Peter Schiff predicted, the Federal Reserve did not raise interest rates yesterday. In fact, in the press conference following the Federal Open Market Committee meeting, Janet Yellen admitted to a reported that it is not impossible that the Fed might hold rates at zero forever. Peter discusses this news, the movement of the […]
Marc Faber spoke with Bloomberg TV this morning to explain why he thinks the Federal Reserve will take no significant steps towards raising interest rates when its meeting concludes today. Like Peter Schiff, Faber predicts the Fed will not commit to any steady schedule of rate hike increases and that a fourth round of quantitative […]
Peter Schiff reviews the latest economic data ignored by the mainstream media and maintains his forecast that the Federal Reserve will not raise interest rates this week. Peter also explains why mainstream analysts are all wrong, whether they argue for or against a rate hike. What does the Fed have to hang their hat on? […]
Here’s another story for the “Peter Schiff was right” archive and another testament to just how clueless mainstream economists can be. Three years ago, it was already becoming clear that ballooning student debt defaults were becoming a major problem. CNBC reported that the loan “industry underestimated defaults by a whopping $225 billion.” We wrote earlier […]
