Peter Schiff explains- government spending has created the price inflation Americans continue to struggle with and how it has bankrupted the United States. The Biden administration keeps touting its “investments” in infrastructure and other programs. Meanwhile, average Americans continue to say they’re struggling with price inflation. “All of that government spending is being financed by […]
Government Spending Has Bankrupted the U.S. Read More »
“When that comes this fall, I believe it’s going to be a very difficult holiday season, certainly challenging for most retailers,” former Toys “R” Us CEO Gerald Storch said. “Every report we hear from retailers out there is that consumers are stressed, they’re reluctant to buy goods. “When you adjust for inflation, sales of physical
The number of people making “hardship” or emergency withdrawals from their 401(k) plans is soaring despite low unemployment and rising real wages… Withdrawals in the April-to-June second quarter leaped an astonishing 36% compared to the same three months a year earlier… Investment giant Vanguard, which recently revealed that hardship withdrawals among its clients “hit a new
Ominous News as 401(k) Hardship Withdrawals Rocket Read More »
The unemployment rate peaked at 14.7 percent, the highest in the post-World War II period. Inflation reached its highest rate in 40 years, prompting the Fed to raise short-term interest rates to their highest levels since 2007. Federal Reserve banks opened for business in November of 1914. Historical CPI data from MeasuringWorth show that the
The Fed Hits 3,000 Percent Inflation Read More »
The BRICS bloc of countries are working on the creation of a new gold-backed currency that could potentially shift the global economic landscape. They seek to establish a currency partially backed by gold, challenging the US dollar’s dominance. How long this takes remains uncertain, the implications for savers and retirees in the US could be
The Dollar Failure: Challenges of a Shifting Global Reserve Currency Read More »
But experts say the new system could lay the groundwork for the infrastructure needed for a potential central bank digital currency (CBDC) in the U.S. “This is a payment system, not a digital token or a CBDC, but it is something that can be used to facilitate the creation of a CBDC,” said Jim Bianco,
Federal Reserve’s ‘FedNow’ Launch Triggers Fresh Speculation Over Digital Dollar Read More »
Gold has been gearing up for its breakout to $2,500 for the past 12 years, and it must now break the final resistance level to open up its “phenomenal” upside… “All it takes for gold is to break through this $2,070 level … From $1,920, gold can rally $600 in the next six to eight
Fed economists just rang the alarm on the historic percentage of distressed US companies. Around 37% of firms are in major trouble, which could worsen the fallout from the Fed’s rate hikes. Investment, employment, and economic activity could all take a significant hit, researchers said. (Markets Insider) Federal Reserve economists just said a historic surge
The Fed Thinks Catastrophe is Coming for US Businesses Read More »
Markets appeared to shrug off the dramatic events in Russia over the weekend… Putin is still in office and in control of the military as he continues his assault on Ukraine. But his grip now looks shaky… bad things can happen amid disorderly change. Imagine what would happen to the price of crude if disruptions were
Russia’s Revolt Has Made the Fed’s Inflation Fight Even Harder. Here’s Why. Read More »
Gold’s value compared to equities and bonds makes it the perfect portfolio diversifier. It’s only a matter of time before gold prices push well past $2,000 an ounce as the world continues to deal with higher interest rates, rising inflation pressures, and the global economy drowning in debt. “Gold relative to money supply itself is also absurdly
