A new study from the MIT Sloan School of Management and State Street Associate says there’s a 70% chance that a recession will occur in the next six months. The researches used a scientific approach initially developed to measure human skulls to determine how the relationship of four factors compares to prior recessions. The index currently stands at 76%. Looking at data back to 1916, the researchers found that once the index topped 70%, the likelihood of a recession rose to

COLUMBIA, S.C. (Nov. 22, 2019) – A bill pre-filed in the South Carolina House would make gold and silver coins legal tender in the state. Passage of this bill would take a step toward creating currency competition in South Carolina and undermine the Federal Reserve’s monopoly on money. Rep. Stewart Jones filed House Bill 4678 (H.4678) on Nov. 20. Under the proposed law, “gold and silver coins minted foreign or domestic shall be legal tender in the State of South Carolina unde

Rick Rieder highlights the economic policy state-of-play today, and where it may lead to should economic growth falter, productivity not materialize, and populism continue to thrive. The major global central banks continue to draw bigger guns in their battle against deflation, yet in some places, it appears to be of no avail. The fact is that the share of sovereign yields that are in negative territory keeps increasing and the average level of these interest rates becomes eve

Gold has risen to six-year highs in recent weeks as the Federal Reserve has pivoted back toward an easy-money monetary policy. Markets widely anticipate a Federal Reserve interest rate cut this week and the economy appears to be slowing. Peter Schiff recently appeared on RT Boom Bust to explain why he believes this is the beginning of a much bigger long-term rise in the price of gold. And it’s not just because the Fed is cutting rates. "In fact, they are going to cut rates ne

Saving for retirement is already difficult. Why make it more so? Carefully, please. Photographer: Drew Angerer/Getty Images Saving for retirement can be a perilous endeavor in the U.S., thanks in part to the Trump administration’s moves to weaken safeguards against unscrupulous sellers of financial products. Now Congress is poised to make things worse -- by undermining protections governing the country’s most popular investment vehicle, the 401(k) plan. Named after a once-obs

Prime Minister Dr Mahathir Mohamad speaks at the 25th International Conference on The Future of Asia in Tokyo today. (Bernama pic) TOKYO: Prime Minister Dr. Mahathir Mohamad says Malaysia is proposing a new currency based on gold, as this would be more stable than the current currency trading which is manipulative. He said the precious metal could be used to evaluate import and export activities among the East Asian countries. “We can make settlements using that (new) currenc

Are you aware of: (Executive Order 6102) & (The Gold Reserve Act) ​ Today, they might call it a "National Restoration" or "Patriotic Solvency" Soon, your government will pass an "Act" like they did in 1841... or invoke an Executive Order as was done in 1933 (Executive Order #6102) ... or simply issue a mandate to the Secretary of the Treasury (which they did in 1971). When Roosevelt signed Proclamation 2039 in 1933, with one stroke of his pen, FDR shuttered every bank in Am

Uber launched its IPO on Friday. It was less than ideal. Meanwhile, the Federal Reserve is talking about how it wants to tweak its quantitative easing program when the next recession rolls around. Peter Schiff talked about how these things relate — and the “writing on the wall” for the economy in his latest podcast. Instead of buying some fixed amount of Treasurys and mortgage-backed securities, the central bankers have floated the idea of pegging a yield during the next econ

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MMT is the socialists’ dream. It officially stands for Modern Monetary Theory but a more appropriate name would be More Money Theory. Because MMT is just a fancy name to justify more money printing, more deficits and more debts. Socialists love MMT, because for a sovereign nation, it justifies constantly living above your means. This is of course nothing new for the US which has practiced MMT for soon 70 years. Not since the early 1960s has the US had a real budget surplus.

There are critical moments in time that can change history. This week I will talk about two lines which are extremely important, as these two lines will change the world for years to come. The first is a Chinese Gold Line which is linked strongly to China’s history. That line has an important connection with what will happen in the world in coming years. The second line is a Maginot Gold Line which will also shape the world for many years or even decades. The history of China

After piling in when the market was hot, investors are facing losses from homes that take too long to sell. Inspired by home-flipping reality shows and a thriving culture of newfound 'experts' in late state bubbles, young real estate investors in the Bay Area and Seattle are getting hammered amid a slowing housing market combined with payments on high-interest "hard money" loans, according to Bloomberg. One such young investor, aerospace engineer Sean Pan, got into property i

After taking an honest look at the facts, I don’t know how anyone can possibly claim that the U.S. economy is “booming”. I really don’t. We hear this sort of rhetoric from the mainstream media all the time, but it doesn’t make any sense. As I discussed yesterday, nobody should be using the term “booming” to describe the state of the U.S. economy until we have a full year when GDP growth is 3 percent or better, and at this point we haven’t had that since the middle of the B

When people are having a harder time paying their bills, that is a signal that the economy is slowing down. This is something that we witnessed back in 2008, and it is something that is happening once again right now. Credit card charge-offs at major U.S. banks haven’t been this high since the U.S. economy was pulling out of the last recession, and the same thing is true regarding credit card delinquencies. So even though the mainstream media keeps telling us over and over

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