Peter's Blog

The QE Zombie Walks Among Us: SchiffGold Friday Gold Wrap Podcast Oct. 27, 2017

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 Plays a Key Role in Chinese and Russian Plans for Economic Independence

China wants to dethrone the dollar. But of course, it’s not alone. Russia would also love to knock the US off the top of the economic mountain. Putin is also positioning his country to free itself from the dollar-dominated global financial system. Like its neighbor to the east, Russia is using gold to pave the […]

China Aims to Dethrone the Dollar

Last month, the Nikkei Asian Review reported on a move by China that could take a first step toward dethroning the US dollar. The proposed launch of a gold-backed, yuan-denominated oil futures contract got a lot of attention in alt-media circles, but didn’t make much of a splash in the mainstream. But now the mainstream […]

Australia Looking to Impose Strict Regulations on Bitcoin

Australia is moving toward regulating cryptocurrencies like Bitcoin and Ethereum under new anti-money laundering legislation. According to the Australian Broadcasting Corporation (ABC), Parliament will vote on the measure this week. If it passes, it will place Bitcoin and other cryptos under the auspices of Australia’s financial regulatory agency.

The Russia Story that Really Matters

We’ve heard a lot about Russian election hacking over the last year. But Jim Rickards said there is only one Russia story that really matters – that is the country’s efforts to break away from the hegemony of the US dollar and the dollar payment system that currently dominates global trade. Over 60% of global reserves […]

Trump’s China-Sanctions Madness Imperils the Dollar

Earlier this month, US Treasury Secretary Steven Mnuchin threatened China, saying the US would “put additional sanctions on them and prevent them from accessing the US and international dollar system” if they don’t go along with the most recent round of sanctions slapped on North Korea. We argued that the threat may be meaningful, but it also might […]

The World Is Creeping Toward De-Dollarization

Earlier this month, we reported a move by China that could foreshadow the end of the US dollar as the world reserve currency. The Chinese announced the launch of a gold-backed, yuan-denominated oil futures contract. The move potentially creates a way for oil exporters to circumvent US dollar denominated benchmarks by trading in yuan. The contracts […]

US Threat to Cut China Off from the International Dollar May Be Empty

Earlier this month, the US threatened to lock China out of the dollar system if it doesn’t follow UN sanctions on North Korea. Treasury Secretary Steven Mnuchin threatened this economic nuclear option during a conference broadcast on CNBC. If China doesn’t follow these sanctions, we will put additional sanctions on them and prevent them from accessing the […]

Russia and China’s Golden Plan to Shift Economic Power East

Russia and China seem to be betting their monetary futures on gold. Their long-term maneuverings could seriously undermine the dominance of the US dollar and shift the world’s economic center of power from West to East. Russia and China buy more gold than any other countries in the world, with Russia leading the way. Over the […]