December 22, 2023 by SchiffGold 0 0 US stocks surged with the promise of interest rate cuts. Then stocks tanked when some Fed officials tried to walk that promise back. Then they surged again when some weak economic data put rate cuts back on the table. As Friday Gold Wrap host Mike Maharrey put it, easy money is … Read more
December 23, 2023 by Michael Maharrey 0 0 Would you rather have silver and gold? Or would you rather have peppermint? You might be under the impression Yukon Cornelius of Rudolph the Red Nose Reindeer fame was after riches of silver and gold. He wasn’t. I mean, I hate to mess with your Christmas memories, but facts are … Read more
December 26, 2023 by Michael Maharrey 0 0 What’s going on with US banks? Over the last month, loans outstanding in the Federal Reserve bank bailout program increased by $17.24 billion. It was the second month we’ve seen borrowing from the Bank Term Funding Program (BTFP) surge. And the pace of borrowing is increasing. Between December 13 and … Read more
December 26, 2023 by Michael Maharrey 0 1 Two days before Christmas in 1923, Woodrow Wilson gave the United States a Christmas gift that keeps taking. On that day, he signed the Federal Reserve Act into law, creating the US central bank. Since that inauspicious day, the US dollar has lost 96% of its value. It’s no surprise … Read more