The so-called strongest economy ever keeps setting records that reflect weakness. In addition to records in government spending and borrowing, the June Empire State Manufacturing Index just dropped by a record 26 points to -8.6, its 1st negative reading since Trump was elected.
Jun 17, 2019
The US Dollar Is Going To Go Through The fFoor
The US Dollar is going to go through the floor and that means the world needs an alternative to the US Dollar. The best alternative is gold.
Jun 3, 2019
Bitcoin: New Gold or Fool's Gold?
Peter Schiff debates Barry Silbert at 2019 SALT Conference. They discussed Bitcoin and crypto currencies versus gold.
May 21, 2019
Bitcoin Has No Intrinsic Value
Read Peter's latest commentary on crypto currencies and Bitcoin: Bitcoin [BTC] is a ‘speculative vehicle for gambling’, says broker Peter Schiff
Topics covered in the interview:
Topics covered in the interview:
- Bitcoin has anything in common with gold
- Bitcoin is a “fool’s gold”
- Bitcoin has no intrinsic value
- Bitcoin is a Ponzi scheme
U.S. Economy: Auto Loan Delinquencies Are Nearing Peak Levels
Auto loan delinquencies are nearing peak levels we saw during the great recession.
"Auto loan delinquencies have surged to the highest level since 2011 and are approaching levels seen at their peak during the Great Recession. The percentage of outstanding auto loans in serious delinquency (90 days or more past due) jumped to 4.69% in the first quarter of 2019, according to the latest data from the New York Fed. At their peak during the recession, auto loan delinquencies hit 5.27%. The total amount of delinquent auto loans totals about $60 billion. In dollar terms, the amount of delinquent auto debt is already far above levels seen during the Great Recession."
- in Schiff Gold
"Auto loan delinquencies have surged to the highest level since 2011 and are approaching levels seen at their peak during the Great Recession. The percentage of outstanding auto loans in serious delinquency (90 days or more past due) jumped to 4.69% in the first quarter of 2019, according to the latest data from the New York Fed. At their peak during the recession, auto loan delinquencies hit 5.27%. The total amount of delinquent auto loans totals about $60 billion. In dollar terms, the amount of delinquent auto debt is already far above levels seen during the Great Recession."
- in Schiff Gold
May 20, 2019
China is Dumping US Treasuries
"China sold off the highest level of US Treasuries in nearly two and a half years in the month of March. Meanwhile, there are renewed fears the Chinese could implement its “nuclear options” and sell off even more US debt in retaliation for US trade war tariffs."
"China sold $20.45 billion in Treasuries in March. That was the biggest US debt dump by China since October 2016.
After a four-month pause, the big March sell-off resumes a trend of Chinese Treasury divestment we saw in 2018. China shed nearly $50 billion in US Treasuries last year (...) The Chinese currently hold $1.121 Trillion in US debt. That’s the lowest level since May 2017."
- in Schiff Gold
Related trading instruments: 10- year U.S. Treasuries, iShares Barclays 20+ Year Treasury Bond ETF (TLT)
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