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Last summer, the Chinese government launched a pilot program for a digital version of the yuan. The virtual currency ups the ante in the war on cash and creates the potential for the government to track and even control consumer spending. Last week, the digital yuan got a boost when China’s biggest online retailer announced […]
The economy has gone through the quickest and arguably the deepest collapse in history, but the stock market has been rallying. How can this be? In this episode of the Friday Gold Wrap podcast, host Mike Maharrey says look no further than the Federal Reserve. Despite the economic chaos, it has managed to blow up […]
The Chinese government has launched a pilot program for a digital version of the yuan. The virtual currency ups the ante in the war on cash and creates the potential for the government to track and even control consumer spending. It also raises some concern that the Chinese could threaten dollar-dominance.
As if there weren’t enough headwinds for the economy already, the Washington Post reported the Trump administration was exploring the possibility of canceling some US debt obligations to China. President Trump denied it but floated the idea of tariffs on Chinese imports as punishments for that country’s handling of the coronavirus. Peter Schiff appeared on […]
Donald Trump and Chinese Vice Premier Liu inked their signatures on the Phase 1 trade deal this week. But was it really a big deal? Or was it no deal? Mike Maharrey talks about it on this week’s Friday Gold Wrap podcast. He also talks about why the gold market seems to be holding steady […]
Donald Trump and Chinese Vice Premier Liu signed the Phase 1 trade deal on Wednesday. The mainstream was generally bullish on the news, but there was some underlying concern because the deal did not bring substantive tariff relief. Peter Schiff broke down the deal in his latest podcast, saying that despite all the hype, the […]
Back in 2017, the IMF published a creepy paper offering governments suggestions on how to move toward a cashless society even in the face of strong public opposition. It hasn’t been in the news a whole lot lately, but the war on cash undoubtedly continues. In fact, the Chinese Communist Party (CCP) may be planning […]
China has accumulated more than 100 tons of gold since it resumed buying the yellow metal last December in a quest to diversify its reserves away from the US dollar. The People’s Bank of China added another 5.9 tons of gold to its hoard in September, according to data on its website reported by Bloomberg. […]
So, what do you have in your basement? My house in Kentucky is built on a concrete slab. And right now I’m in Florida. Here we call a basement an in-ground pool. So, I can’t really answer that question. But my grandfather had a basement. It was full of junk. I’m guessing that’s probably the […]
We’ve written extensively about a push toward de-dollarization by countries like Russia and China and their desire to undermine the ability of the US to weaponize the dollar as a foreign policy tool. The global gold rush on the part of central banks is part of this movement. And it’s not just countries like Russia […]
