Precious metals news

This article was submitted by Addison Quale, SchiffGold Precious Metals Specialist. Any views expressed are his own and do not necessarily reflect the views of Peter Schiff or SchiffGold.
Flashing red stock markets seem to have become something of a norm in this new post-rate-hike world.
Since Yellen made her big announcement in December, we’ve witnessed a general downward trend in stocks. At one point this week, the S&P had shed over 120 points. That’s well over 5%. The Yellen announcement aftermath has been particularly bad for US stocks. They were down almost 100 points early in the week. This drama has been punctuated and influenced greatly by the continued carnage in Chinese stocks.

SchiffGold has just acquired a very limited quantity of mint-condition, uncirculated 1979-1982, 1-ounce Maple Leaf Gold Coins. These 99.9% purity coins are the perfect opportunity to buy gold near the market bottom. SchiffGold has not seen Maple Leafs priced this low since we began business.

Peter Schiff spoke with the X22 Report earlier this week and covered the gamut of economic analysis. They first discussed the latest economic data and why the United States is likely heading into a fresh recession in 2016. They compare the coming crisis to 2008, looking at the long-term collapse of the dollar and what it could mean for everyday Americans. The only question now is will the government eventually cut its spending and cop to the role it played in creating the biggest economic mess in the country’s history, or will it go all-in on socialism?

Greg Hunter from USAWatchdog.com gives his take on the weeks news from across the country and around the world.

At this point in time, nuclear war can only be avoided in two ways…

China is not some kind of one-off aberration. In fact, the less visible aspects of the credit ponzi exist throughout the global economy and they are becoming more visible by […]

The manipulator's clock is out of time and if the December 2, 2015 cycle low forecast at $1045 holds as December comes to an end, what follows should be explosive. 

How Does Murphy's Law affect Gold Prices? 

Growing debt faster than your energy supply has hard limits

Careful not to seem too angry next time you argue with your spouse. It could spell the end of your 2nd Amendment.

Gold closed 2015 down three years in a row vs. the U.S. Dollar; but higher against many major currencies two years in a row. Gold hit all time highs against […]

U.S. President Barack Obama is not just the world’s best gun salesman, he’s also the world’s worst gun control spokesperson...

The scale of the global epidemic of obesity, metabolic syndrome and diabetes are truly staggering. Though evidence of a looming global healthcare crisis is plainly visible, few seem to realize […]

Bill Gross, Janus portfolio manager, discusses Fed funds levels and interest rate action.

"The U.S. economy is weakening much more than perceived". "S&P will fall between 20%-40% conservatively"

Two of the world's foremost experts on economic cycles believe a punishing wave of deflation is coming. Just like the Great Depression. it could sink the value of stocks, homes, and even savings accounts. Billions could be wiped out.

"What The Fed did, and I was part of it, was front-loaded an enormous rally market rally in order to create a wealth effect..." "The Fed is a giant weapon […]

Peter Schiff discussed the miserable start for Wall Street in 2016 on Newsmax Prime. Peter said that until the Fed admits the truth about the economy, there is really nothing to stop stocks from continuing on a downward trajectory:
There really is nothing to support this market until the Fed acknowledges how weak the economy really is and admits that it’s not going to be raising rates, but lowering them back down to zero and launching another round of quantitative easing. But absent that, I really don’t see what prevents the market from continuing to decline. “
Peter went on to say he believes the Fed will eventually step in and save the market by lowering rates and launching another round of quantitative easing, but it will sacrifice the dollar in the process.

China added another 19 tons of gold to its reserves in December, continuing a buying spree analysts expect will continue through 2016.
Since announcing its reserves for the first time in six years last summer, the People’s Bank of China (PBOC) has steadily added to its hoard. The PBOC added 14 tons in October, 15 tons in September, 16 tons in August, and 19 tons in July. It accelerated the pace in November, purchasing 21 tons, and continued to buy gold at a steady clip last month.

In a recent interview on CCTV America, Peter Schiff discussed the debt crisis in Puerto Rico and whether the US should bail out the struggling territory.
The Puerto Rico Infrastructure Financing Authority went into default earlier this month, fueling speculation that the US should help with a bailout. But Peter argues that is the wrong approach. He told the CCTV interviewer that the US is at least partially responsible for the crisis and should help by allowing Puerto Rico to go into bankruptcy, just like it would any US city saddled with debt. But he emphatically argued against a bailout:
The bailout wouldn’t help Puerto Rico. It would enrich all of the hedge fund speculators who bought up that Puerto Rican debt for pennies on the dollar. What’s the point of using taxpayer money and funneling it to hedge funds through Puerto Rico? All Puerto Rico needs to do is restructure… Why impose the losses on American taxpayers? Impose them on the people who were dumb enough to buy th...