Tuesday, July 7, 2020

Peter Schiff: The World Will Drown in an Ocean of Inflation; Gold Is Going Ballistic

by Peter Schiff, Schiff Gold:

The gold market took a one-two punch on Tuesday as Trump made some concessions in the trade war and inflation numbers came in a bit higher than expected. Peter Schiff talked about it in his latest podcast, saying gold traders still don’t understand the gold rally.

Rioters Burned Down Minneapolis Manufacturer. Now They’re Relocating, Taking Jobs With Them

from True Pundit:

The owner of a manufacturing company in Minneapolis that was burned to the ground during last week’s violent riots has announced that he is relocating his company, taking dozens of jobs out of the city, due to the failure of the city’s Democrat leaders to protect businesses.

“They don’t care about my business,” Kris Wyrobek, president and owner of 7-Sigma Inc., told the Star Tribune. “They didn’t protect our people. We were all on our own.”

As he watched a nearby business burn to the ground, Wyrobek noted, “The fire engine was just sitting there, but they wouldn’t do anything.”

It’s Not a Recession—It’s a Government-Imposed Shutdown of the Private Sector

from Silver Doctors:

We are about to enter a production slowdown, a collapse really, not because businesses miscalculated their investments, but because government intervened…

by Hunter Hastings via Mises Wire

Economists and Wall Street analysts are using the word recession to describe the looming plunge in output in the US economy. We’ll just make the point early that economists, exhibiting the typical emptiness of their failed science, can’t even agree on the definition of recession.

Undeterred by lacking a definition, the geniuses at Goldman Sachs and elsewhere on Wall Street are unrestrained in predicting the imminent arrival of the condition they can’t describe.

Market Report: Silver begins to catch up with gold

by Alasdair Macleod, GoldMoney:

Gold consolidated recent gains this week, losing $3 from last Friday’s close to trade at $1738 in early European trade this morning. On the same timescale silver was up 50 cents at $17.09, 50 cents below its peak on Wednesday.

As our headline chart shows, silver has almost recovered its loss on the year, having rallied 44% from the March low. Its recent outperformance against gold has reduced the gold/silver ratio to 102, after topping 124. This is our next chart.

The Fed’s Grand Bargain Has Finally Imploded

by Charles Hugh Smith, Of Two Minds:

The Fed has backed itself not into a corner but to the edge of a precipice.

Though the Federal Reserve never stated its Grand Bargain explicitly, their actions have spoken louder than their predictably self-serving, obfuscatory public pronouncements. Here’s the Grand Bargain they offered institutional investors and speculators alike:

We’re taking away your low-risk, high-yield investments by slashing interest rates to near-zero, but we’re giving you endless asset bubbles as a new way to notch reliable gains. This trade-off has worked for 20 years as the Fed hyper-inflated one asset bubble after another until they finally inflated everything to precarious extremes: The Everything Bubble of 2019 that started unraveling in September 2019, long before the pandemic.

The Weekly Perspective with David Morgan – The Eighth Wonder of the World

by Kerry Lutz, Financial Survival Network:

David Morgan‘s weekly perspective…

Today’s monetary system is based upon a lie. The lie is that you can get something for nothing, or perhaps more simply stated, wealth can be printed. History has shown throughout 5000 years that whenever a country has tried to maintain this illusion (lie), failure has been the result.

You can continue to grow your wealth regardless of the changing winds of politics, the economy and the financial markets. Let me show you how…

Click HERE to Listen

Pelosi’s Latest $3 Trillion “Liberal Wish List” Hands Out Amnesty Like Candy – Opens Borders to Endless Migration – Bails Out Bankrupt Liberal States

by Jim Hoft, The Gateway Pundit:

While the rest of America was locked down Nancy Pelosi was getting eating gourmet ice cream and scheming against the American public.
Pelosi put together her latest “liberal wish list” that was written by liberal lobbyists behind closed doors.

The legislation reshapes US elections, bail out broke liberal state pensions, and give amnesty to millions and millions of illegals in the country.

Watch — Furloughed Ohioan: ‘Cure Is Going to Be Worse Than the Disease’ if We Don’t Get Back to Work

by Hannah Bleau, Breitbart:

A furloughed Ohioan attending an “Open Our Ohio” protest at the Ohio Statehouse in Columbus on Saturday told Breitbart News that the “cure is going to be worse than the disease” if people are not able to go back to work.

“Me personally, I’ve been furloughed. I’ve never been unemployed or furloughed in my entire life,” the woman told Breitbart News.