Precious metals news

"These are our Valley Forge days. But at least we still have..." 

In a widely expected move, the BOJ maintained its short-term interest rate target at minus 0.1 percent and a pledge to guide 10-year government bond yields around zero percent.

What has been a great week so far has just turned into the Niagara Falls of Gold & Silver. Here's an update...

"Of course not. Those proclaiming that 'these bubbles are not bubbles' know full well they're bubbles, but their livelihoods depend on public denial of this reality."

Fed Chairman Powell's suggested interest rate path could have us staring at a recession by late-2019.

With the Fed in interest rate “hike” mode, the market is on edge about the speed with which rates will rise. Rates have been rising at a pretty steady clip over the past couple of years…

If you make it much more difficult for trade partners to obtain dollars in a system wherein they have no choice other than to obtain dollars, you highly incentivize two behaviors in them, both of which are seriously detrimental to the US.

"We have now started a very sharp wave rally higher. This wave is going to subdivide into a..."

US Announces Target List On $50BN In Chinese Tariffs; Beijing Vows Immediate Retaliation

Having reduced the amount of reserves that lenders must hold just two months ago, China's central bank could soon do it again to support a slowing economy and contain risks posed by corporate debt defaults, policy sources said.

“There’s no question, that to get to $100 billion you’re going to hit consumer products coming in from China,”

"Implementation of the tariffs, when it occurs, could take us closer to a trade war,"

"we could have another Greek-like crisis. But with one crucial difference..."

Eric breaks-down the current state of the global economy to forecast when gold will begin climbing in price again. Here's the details...

Peter says gold is not going to stay range bound like it is right now, but rather, gold is going through the roof. Here's why...

As expected, the Federal Reserve nudged rates up another .25 basis points on Wednesday. Perhaps more significantly, the Fed took a more hawkish tone than expected, signaling it would likely increase rates two more times this year for a total of four hikes. The central bank had been projecting three 2018 rate increases.
A buildup in inflation pressures was a major reason for the Fed's more hawkish tone. According to the latest data released by the Bureau of Labor and Statistics, the Consumer Price Index (CPI) jumped by 2.8% year-over-year in May. The central bankers projected inflation will likely run above their 2% target into the near future. Analysts expect the CPI to hit 2.1% this year and run at that level through 2020.
In his latest podcast, Peter Schiff said higher inflation might be a victory for the Federal Reserve, but it will be a big loss for consumers. In fact, we are heading for a no-growth, high-inflation economy.

The following article was written by Peter Schmidt. Any views expressed are his own and do not necessarily reflect the views of Peter Schiff or SchiffGold. 
When currency was backed by gold, a central bank’s main function was to maintain the value of the issued currency in terms of gold.  For example, if a central bank created too much money against the gold reserves in the banking system, an increasing number of people would begin to exchange their currency for gold.  To combat this, a central bank would be forced to raise interest rates and decrease the money supply.  The higher interest rates would incentivize people to exchange gold for larger savings on deposit that earn interest.  Banking reserves – gold – would return to the banking system and the economy would return to balance.  The prime reason for insisting on defining currency in terms of a precious metal was to provide a self-correcting braking mechanism to the creation of money.  As expressed by the great Wilhelm R...

The die is cast, and the economy – if it is to move forward – will need continued inflation.

The dollar climbed higher (DX to 94.72), boosted by further weakness in the euro ($1.1601, 2-week low). Gold was $1303 bid at 4PM with a gain of $4.

Do you think it's possible for the government to lie about the economy?