Black Swan SchiffGold | James Alexander Michie

For years, I have been warning that during the age of permanent stimulus (which began in earnest with the Federal Reserve’s reaction to the dotcom crash of 2000), each successive economic contraction would have to be met with ever larger, increasingly ineffective, doses of monetary and fiscal stimulus to keep […]

Silver Coin Edge SchiffGold | James Alexander Michie

Silver has finally joined gold at the party. In the last week, the price of the white metal has moved up from $15.51 to $17.35. (as I type this on Tuesday morning May 19) That’s an 11.9% increase. With the jump in the price of silver, the silver-gold ratio has […]

Soap Bubble SchiffGold | James Alexander Michie

Celsius Network, founder and CEO Alex Mashinsky calls the bond market, “the biggest bubble that hasn’t burst yet.” And when the massive bond bubble pops, that’s when the real earthquake begins. The US Treasury Department is pumping out bonds like there’s no tomorrow. It announced this week that it plans […]

Corona Economy SchiffGold | James Alexander Michie

A = coronavirus. B = economic meltdown. A caused B. That’s the mainstream narrative when it comes to the economic pain we’re feeling right now. But in reality, A did not cause B. B was in the works long before A came along. Of course, the mainstream never recognized the […]

Venture capitalist Chamath Palihapitiya made waves when he said during a CNBC interview that the government should not bail out companies impacted by the coronavirus shutdowns. “On Main Street today, people are getting wiped out. Right now, rich CEOs are not, boards that have horrible governance are not,” he said. […]

Capitol Up SchiffGold | James Alexander Michie

The US national debt pushed above $24 trillion on Tuesday. The US government was already running massive budget deficits long before the coronavirus pandemic and the debt was piling up at a dizzying pace. Response to the outbreak has put spending and debt in hyperdrive. The US government added $1 […]

Closed SchiffGold | James Alexander Michie

As the coronavirus-induced economic lockdowns have tightened across the US, we’ve seen the emergence of a government-inspired fantasy — the myth of the nonessential business. Government officials across the country have forced the closure of these so-called non-essential businesses while allowing “essential” enterprises to soldier on. Politicians and bureaucrats have developed arbitrary […]