Precious metals news

In his review of the latest economic data, Peter Schiff rips more holes in the economic “recovery” narrative. The labor-force participation rate just hit its lowest level since 1977. Meanwhile, under Obama’s presidency, 1.4 million manufacturing jobs have been lost, while 1.4 million bartending, waitress, and waitering jobs have been created.

The IMF has thrown the EU under the bus!!! 

Like most locals, I’ve been steadily hitting the ATM for the past weeks to amass some emergency cash. I ventured out today for the first time since the capital controls […]

What the world is not seeing is exactly how the Debt Emperor is wearing no clothes!  There is no way these bureaucratic clowns can enforce anything, and if they cannot […]

Is a period of extreme volatility about to return to the silver market?

The Puerto Rico situation may not remain a local crisis for much longer, and none other than " Turbo Timmy"  Geithner is in the middle of it all...

Texas Wants Gold Back from Feds CBS News - Texas wants its physical gold back. In mid-June, Gov. Greg Abbot signed a law creating a state gold bullion and precious metal depository. The Star-Telegram reported that the primary goal of the depository is to "bring home more than $1 billion in gold bars that are owned by the University of Texas Investment Management Co. and are now housed at the Hong Kong and Shanghai Bank in New York." Under the new law, Texas gold will be beyond the purview or control of any "governmental or quasi-governmental authority" not directly administered by the state. Read Full Article >>
Bank of China to Help Set London Gold Price The Telegraph - The Bank of China will become the first Asian firm in history to join a group of western institutions setting the price of gold in the London market with its entry to the London Bullion Market Association gold price auction. China is the world’s largest producer and consumer of bullion. Bank officials said...

Greece missed its International Monetary Fund (IMF) payment earlier this week – the first advanced economy in the world to do so. All of Europe is watching to see if Greece stays in the eurozone and what the ramifications could be for the relatively young euro currency. And while they wait, they’re buying gold.
European mints and gold sellers have reported a huge leap in gold sales since this weekend, when Greece announced bank closures. The Wall Street Journal reports that the British Royal Mint is experiencing twice the demand for gold sovereigns from Greek customers.
Meanwhile, the last time the European retailer CoinInvest.com saw sales like this was during the Cypriot banking crisis in 2013.

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.
The federal government can’t seem to help itself. After overseeing the inflating and bursting of the dot-com bubble in the 1990s and the subprime mortgage bubble in the 2000s, the United States government is at it again – this time in the area of student loans.
Student loan debt now stands at a record $1.2 trillion, which represents the second largest category of consumer debt after home mortgages. It has grown by leaps and bounds since the financial crisis of 2008 and now surpasses even car loans and credit card debt.

Long-awaited signs of danger are materializing...

Keith Neumeyer, the outspoken and courageous CEO of First Majestic Silver joins the SGTReport to dissect the obscene levels of precious metals manipulation by the international banking cabal. Neumeyer has led the […]

During Indonesia's Financial Crisis in the late '90's, the local currency, the rupiah, plunged 83% from its pre-crisis levels. Dozens of banks went under, credit dried up, and many depositors […]

Well, brothers, it has finally begun.  The moment that all of us “crazy” stackers have been stacking silver for in the first place, has now arrived: the beginning of the end […]

A deadly accident at a Volkswagen plant in Germany led to an assembly line robot grabbing the contractor installing the robot and crushing him against a metal plate.

The real story in today’s report is the fact that the labor force participation rate hit a low not seen since October 1977:

If the COMEX reports are in fact accurate and bona fide, it would be the ONLY business segment of any of these banks that is reported without any misrepresentation or outright fraud. […]

Russia, China and the U.S. are in a battle for currency dominance and natural resource stocks have been buffeted as a result. When the dust settles, smart natural resource investors […]

Actor and comedian Jim Carrey is on two "A lists" now, one as an actor and an "A list" for integrity.  Following Governor Brown's signing into law an aggressive forced […]

The Silver Institute has released its June newsletter. The publication features interesting and educational articles about the latest technology in the silver industry, as well as new silver investment products on the market. This edition notes that industrial demand for silver continues to grow in Asia and developing countries:
Industrial applications accounted for 56 percent of all silver demand in 2014. On a regional basis, a modest increase in industrial demand in developing countries, led by 4 percent growth in China and Taiwan, was offset by weaker demand in advanced countries in 2014. This marks the fifth consecutive year of Chinese industrial demand growth. Last year’s industrial demand total for Taiwan was 23 percent above their 2009 figure."

Peter Schiff appeared on Fox Business yesterday, warning that whether they know it or not, many Americans own Puerto Rican bonds in their retirement portfolios. If Puerto Rico were to default on its debt, the fallout would have a much bigger effect on average Americans than Greece leaving the eurozone. More importantly, Peter believes Puerto Rico provides a peek into the future of the United States:
The reality is Puerto Rico is in better fiscal shape than the United States. They have a lower debt-to-GDP than we do. The only difference is, investors aren’t worried yet because the Fed is monetizing all of our debt. If we had a QE program for Puerto Rico, they wouldn’t have a problem either…”