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A recent report by Bloomberg highlights that if China were to adopt a gold standard, it would look nothing like the traditional systems used in the past. Ken Hoffmann, Bloomberg’s Global Head of Metals & Mining Research, doesn't believe conventional western wisdom can predict the actions China might take. In fact, he cautions that China will be more than capable of thinking outside the box. And if the rising Eastern power does transition to a gold standard, it would send the price of the yellow metal through the roof.China wants to establish the yuan as a global reserve currency. Backing it with gold would likely attract foreign investment. Here's the catch — a gold-backed yuan would require either an exchange rate of about $64,000 an ounce, or three times more gold than currently exists in the world at current prices.
‘Barbarous Times’ Ahead Some call gold a ‘barbarous relic,’ after famed economist John Maynard Keynes used this term to describe the gold standard in the first half of the 20th […]
Last week it was reported that some of the largest banks in the world were slammed with yet another stiff fine by the United States government. This time it amounted to […]
In this excellent interview with Finance & Liberty's Elijah Johnson, Chris Martenson discusses why war is coming, and how to prepare:
Why owning your own income is more important than ever now...
Today is gold options expiry day on the COMEX. As expiry day approaches, gold has a tendency to trade sideways to lower. The most successful investor now is the one […]
Wrapped in a worldwide currency depression, the intentional zero interest rate strategy has fostered great damage to the practice of saving. Nevertheless, not everyone believes or blames central banksters for […]
Buckle up. It's going to get bumpy...
The GLD is once again being drained of "inventory" during a period of rising prices. Is this a sign of tight, global supply?
While we remember those who paid the ultimate price to secure our Freedom today on Memorial Day, Deagel has posted an update to its forecast for a coming economic collapse […]
For a number of years the market presence of commercial traders has dictated the direction in the price of gold and silver. With deep pockets and by trading contracts in […]
"This is going to be an overnight or over the weekend type of event where you have what you have on a Friday and you wake up on a Monday […]
Gold and silver rallied strongly last Friday and into Monday's overnight trading (UK time) before spending the rest of the week drifting lower from initial highs to consolidate above notional […]
Over the course of this hour-long discussion, The Golden Jackass Jim Willie addresses two main points: The wreckage of the global bond markets and the damage wrought by the never-ending […]
"We are on the very brink of an implosion which should culminate before the year is out." It’s time to get a little perspective on “Operation Jade Helm 15″ and […]
The Greek government says that a “moment of truth” is coming on June 5th. Either their lenders agree to give them more money by that date, or Greece will default […]
A confluence of Black Swans each with the capability of taking the US dollar to its knees appear to be converging on the month of June 2015...
This article is 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.Metals have again found themselves very much range-bound this past month. Gold is trading between $1170 and $1230, and silver is bouncing back and forth between $15.75 and $17.50. We certainly seem to be in a kind of holding pattern until things shake out further. With geopolitical drama at a bit of a lull and everyone holding their breath until the next FOMC meeting in June, there hasn’t been too much to move the metals prices up or down. Clearly, something has to give.The June Fed meeting could be a significant event at least. As this past Wednesday’s FOMC minutes suggest, the Fed will not raise rates next month. This dovish news could be the catalyst for metals to break out of their current rut.As Peter has been reporting for over a year now, the US economy is not nearly as strong as the medi...