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(Zero Hedge)—Last week Peter joined Oliver Renick on his show, “Market on Close,” on the Schwab Network. They discuss gold’s stellar year in 2024 and where the metal is heading, and Peter also comments on the price of crude oil, treasury yields, and the Fed’s recent rate cut.
Peter compares gold in 2024 to gold in 1979 but notes one key difference. In 1980, the Fed raised rates, putting a stop to gold’s rise. Rate hikes are highly unlikely after the Fed’s recent announcement:
“Gold is up almost 30% so far this year. Another all-time record high today, getting close to 2700 in the spot market. This is the best year that gold has had since 1979…
…A key difference between now and 1979? That was the end of the gold bull market. And in 1980, Paul Volcker raised interest rates up to 20%.
That’s what killed the bull and brought inflation down. But the current Fed is cutting rates. It’s going to cut rates more in 2025. So, gold is just getting started.”
A 50 basis point rate cut signals that either the Fed is scared of America’s economic future, or they believe we’re already in a recession:
“Well, the Fed is very desperate. I mean, normally they wait until there’s a problem before cutting rates.
They wait for a major stock market decline. They wait for a recession. But here, they’re cutting rates even before we’re officially in a recession and with the stock market at all-time record highs, with real estate prices at all-time record highs, and with the gold price at all-time record highs.
We’ve never had the Fed start cutting rates when gold was at an all-time record high. And in fact, the record high in gold proves that the Fed’s rate cut was a mistake.”
A lot of the data that supposedly portrays a healthy economy is corrupted by the pervasiveness of private and public debt. GDP growth is one example:
“The GDP is consumers spending borrowed money to buy more expensive groceries and stuff like that. The government spending borrowed money is a big part of that GDP. And we have a massive deficit that is a consequence of this fake GDP growth…
…We do not have a good economy. We don’t have a growing economy. We have inflation. And inflation creates the illusion of economic growth. But people are getting poorer, even though the numbers are going up again.”
For more Schiff insight and insight from the Austrian school of economics, watch a recent interview between Peter and Jason Burack, host of “Wall Street for Main Street.”
October September Surprises
by American Greatness
An October surprise is usually defined as the well-known (and more often left-wing) tactic of manufacturing or unloading a news story right before voting to surprise a rival without allowing them time sufficiently to respond or recover. Think of the last-minute bombshell disclosure, five days before the 2000 election, that…
Spiciest One-Minute Take On Entire COVID Sham: It Was All About Hysterical Female Energy
by Revolver News
There’s an intriguing argument being made about the COVID pandemic response, and it’s coming from a rather unexpected source—a woman. She suggests, in about one minute, that the entire reaction to the virus was driven by a distinctly female worldview. Honestly, this is the spiciest and best take we’ve ever…
NATO Prepares Mass Evacuation and Rescue Plans as Senior General Warns of World War 3 With Russia
by The Gateway Pundit
NATO is mobilizing its resources and strategic plans in anticipation of a potential all-out war, as articulated by Lieutenant-General Alexander Sollfrank, head of NATO’s logistics command. This urgent preparation underscores a grim reality: the specter of World War III is looming. In these two and a half years of war…
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Get Ready for Another Mail-in Ballot Fiasco
by Daily Signal
Many states are sending out mail-in ballots now for the Nov. 5 presidential election. Yet at the same time that so many more voters are depending on the mail to cast their ballots, the two leading national organizations of election officials wrote the U.S. Postal Service to demand immediate action…
Fact Check: Springfield, Ohio, Claims Haitian Migrants Are ‘Legal.’ Are They?
by Daily Signal
The Rust Belt community of Springfield, Ohio, now has a page on its website dedicated to answering common questions about the flood of illegal aliens, mostly Haitians, who have arrived there in recent years. “The City of Springfield has experienced a surge in our population over the last several years,…
United Nations JUST APPROVED the framework for a One World Government
by Glenn Beck
The United Nations kicked off its 2024 General Assembly by approving a group of game-changing proposals that are practically the framework for a One World Government. Glenn’s co-author for “The Great Reset,” “Dark Future,” and his upcoming book, “Propaganda Wars,” Justin Haskins, joins to break down what this “Pact for…
Reality Check: Has Telegram Bowed to Global Censorship Overlords After Founder’s Arrest in Paris?
by World Tribune
Less than a month after he was arrested by French authorities in Paris, Telegram CEO Pavel Durov announced the messaging app would bow to Western governments’ requests to provide Telegram users’ personal information. On Sept. 23, Durov said Telegram will provide users’ IP addresses and phone numbers “to relevant political…
‘Evidence Free’: Puberty Blocker Recommendation May Break Law, 21 Ags Warn Pediatrician Group
by Daily Wire
A group of nearly two dozen state attorneys general is warning the American Academy of Pediatrics that it may be breaking the law by continuing to recommend puberty blockers to children who are unhappy with their biological gender despite evidence the drugs cause harm. On Tuesday, the 21 attorneys general,…
FTC: Tech Giants Collecting Massive Amounts of Data From Kids and Teens
by Ava Grace, Natural News
(Natural News)—The Federal Trade Commission (FTC) has disclosed in a report that tech giants are collecting massive amounts of data from their young users. The FTC report published Sept. 19 expounded on how social media and streaming companies endanger children and teens who use their platforms. It also showed how “the tech industry’s…
The Vast Pharmaceutical Conspiracy to Silence Dissent Online
by A Midwestern Doctor
Story at a Glance: There has been a coordinated campaign to attack and defame anyone who has spoken out against the COVID-19 response. This has primarily been restricted to social media (e.g., getting people deplatformed) but it has also been weaponized in real life (e.g., getting medical licenses revoked). This…
Busted: Will Media Ignore Coke Censoring ‘President Trump’ but Greenlighting ‘President Harris’?
by Newsbusters
Here’s a story the liberal media won’t cover: Leftist soda giant Coca-Cola seems to have made it clear where its political loyalties lie for the 2024 election, and it may have violated federal election law in the process. When MRC researchers attempted to customize a “Personalized 12 fl oz. Can…
Texas Warns Venezuelan Prison Gang “Activity Happening Across State”
by Tyler Durden, Zero Hedge
(Zero Hedge)—Transportation Secretary Pete Buttigieg took to X on Tuesday. He wasn’t speaking about the need for racial equity in America’s highways or woke activism in the FAA, but he attempted to persuade the internet that “crime is down.” What a ‘weird’ topic for Buttigieg to discuss with X users,…
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