Peter Schiff: President Bernie Would Send Gold Surging to $2000 Overnight

Bernie Sanders has been cutting into former Vice President Joe Biden’s lead in the Democratic primary race, and economist and noted gold bug Peter Schiff says the precious metal would surge if the self-proclaimed Democratic Socialist were elected to the White House.

“If Sanders becomes president in 2020, the price of gold will be well above $2,000 on the day after election night,” Schiff said in a Monday interview with Fox Business.

Gold was trading around $1,573 per ounce Tuesday morning after touching a seven-year high $1,594.70 Monday. The price has slowly crept up amid recent tensions in the Middle East and the outbreak of the coronavirus in China.


He actually thinks the precious metal could hit that $2,000 mark before the election if the market is already projecting a Sanders win over incumbent President Donald Trump. In a head-to-head vote, Sanders beat out Trump 48% to 42% in the most recent Fox News poll.

“What a Sanders win means is much bigger government deficits, and much more money printing by the Fed because there is no way to finance all of the spending that will happen with tax hikes on the rich,” Schiff said. “We’ll get tax hikes on the rich, but they’re not going to provide the revenue to pay for the programs.”

The U.S. budget deficit is on track to top $1 trillion this fiscal year, which would be the first time it has hit that mark since the Great Recession. Schiff thinks the deficit would balloon even more under Sanders because he wouldn’t face enough opposition when it comes to spending, which has been the case under Trump as well.

“There is gonna be no Republican opposition to the deficits that would finance the spending because after all, the Republicans didn’t object to record deficits under Trump when the economy was supposedly the greatest ever,” Schiff said. “The deficits could be three or four trillion dollars a year and the money printing will be off the charts.”

Some of Sanders’ other proposals include eliminating $1 trillion in student loan debt and funding hugely expensive projects like the Green New Deal to fight climate change, which would only increase the deficit even further.

Schiff doesn’t think the coronavirus outbreak has been much of a factor in the price of gold rising, despite the tendency for investors to flee to the precious metal as a safe haven when uncertainty hits the market.

When looking back at the SARs outbreak in 2003, JPMorgan analysts found gold rose more than 8% in the three months after the World Health Organization issued a travel advisory. But they found the U.S. invasion of Iraq and the Federal Reserve’s easy-money policy at the time “muddy the water immensely.” Their projections for gold’s future were not nearly as optimistic as Schiff’s, with the price hitting $1,655 per ounce or maybe $1,715.

Looking at the Federal Reserve, which meets this week to discuss monetary policy, gold investors will want to watch for how the central bank intends to reign in its action in the repo markets.

The Fed will most likely keep its key interest rate policy steady at a range of 1.5% to 1.75%, but it has expanded its balance sheet by around $400 billion recently through the purchase of Treasury bills to help stabilize the short-term repo market in what some are calling “stealth quantitative easing.”

The CME FedWatch Tool predicts an 87.27% chance the Federal Reserve sticks to the current 1.5% to 1.75% interest rate at this week’s FOMC meeting.


And Schiff thinks the Fed will continue its easing and even cut rates to zero at some point, which he says will make the balance sheet “explode to much higher than the four-and-a-half trillion that they tapered from.”

That in turn will kill the U.S. dollar, and a Sanders presidency won’t help its case either, Schiff argues.

“There’s no way the dollar’s reserve status will survive a Sanders presidency,” Schiff said. “America is going to be a much, much poorer nation. Our standard of living is going to implode but the money printing is going to be crazy.”

Sanders has a solid hold on second place in the latest RealClearPolitics polling average with 23.3% of the vote. Biden remains the front-runner with 28.7% of the vote, while Elizabeth Warren rounds out the Top 3 with 14.9% of votes.

Monday marks the first Democratic caucus in Iowa, which could paint a picture of how the rest of the primary race will shake out going forward.

- Source, Money and Markets

Peter Schiff: Chinese Trade Deal Could Cause Price Increases in the United States

Donald Trump and Chinese Vice Premier Liu signed the Phase 1 trade deal on Wednesday. The mainstream was generally bullish on the news, but there was some underlying concern because the deal did not bring substantive tariff relief. Peter Schiff broke down the deal in his latest podcast, saying that despite all the hype, the deal was really much ado about nothing.

The Chinese pledged to buy an additional $200 billion worth of American goods over two years. The Chinese will primarily buy US agricultural products and energy, but the deal includes $80 billion worth of US manufactured goods, including aircraft, autos and car parts, agricultural machinery and medical devices. According to Reuters, “Commitments include $54 billion in additional energy purchases, $78 billion in additional manufacturing purchases, $32 billion more in farm products, and $38 billion in services.”

Trump called the deal a “big, beautiful monster.”

“Our farmers will take it in. I keep saying, ‘Go buy larger tractors, go buy larger tractors,’” Trump said during a rally in Ohio last week.

The US will roll back some, but not all of the tariffs it imposed over the course of the 18-month trade war. The deal canceled planned tariffs on cellphones, toys and laptops. It also cut levies on about $120 billion in Chinese goods to 7.5%. But the 25% tariffs on $250-billion in Chinese industrial goods and components will stay, along with China’s retaliatory tariffs on over $100 billion in American goods.

Trump said the tariffs will be removed in a Phase 2 deal.

“I’m leaving them on because otherwise, we have no cards to negotiate with. But they will all come off as soon as we finish Phase 2,” Trump said at the signing event.

The markets reacted positively to the news. The Dow Jones closed about 29,000 for the first time ever, and other major indexes including the Nasdaq and S&P5000 made record highs.

Peter said some of the recent stock market gains were certainly driven by the Phase 1 trade deal.

But the majority of the gains are clearly are the result of the Fed. The Fed’s policy reversal, its taking away the rate hikes and delivering rate cuts instead, its quietly returning to QE — even though its officially denying it’s doing it, it’s clearly doing QE. And that is what has been driving the market. Although, I think the anticipation of the trade deal has acted as a rumor that traders continuously bought, bought, bought.”

Now that we have a deal that investors can actually scrutinize, it will be interesting to see if the markets begin to sell off.

There really is nothing to look forward to anymore. I mean, the so-called good news is now in the past. In the meantime, traders can start focusing on all the bad news they’ve been ignoring and the even worse news that’s likely to come in the future. So, we could see a selloff, particularly when people really start to think about the deal and what it actually delivers.”

The hyperbole surrounding the signing of the Phase 1 deal was at level 10. It’s the greatest deal ever. Nobody has ever seen a deal like this. Peter said that may be true.


There’s never been a deal so inconsequential and insignificant as this deal.”

Peter said when the deal was announced that it wasn’t a “real deal.” There was nothing in the details that caused him to change his mind.

The Chinese have primarily agreed to buy US commodities – agricultural products and energy. Peter pointed out that could mean they buy less from other countries. Or, they could stockpile these commodities.

Which would be a lot better than stockpiling US Treasuries. In fact, it would be a huge win for China if it does end up buying extra commodities to store, and it pays for it by selling US Treasuries — if it takes money that it otherwise would have loaned to the United States government by buying Treasuries and instead buys actual stuff that they can really use and has value — that is a win for China. It’s a double win for China. They get rid of Treasuries that are going to collapse and they buy more real commodities that are going to go up in value.”

It is also possible that by sending more commodities to China, domestic supplies could shrink, causing prices to go up for US consumers.

The Phase 1 deal doesn’t do much to bring back US manufacturing. Peter likened it to a colonial relationship where the US just grows stuff and harvests things while China does the high-end manufacturing.


So, we’re not going to get more manufacturing jobs. We’re just going to keep our lousy, low-paying service sector jobs. But now those service sector workers, rather than getting better jobs, they’re just going to have higher bills when they go to the supermarket, when they go to the gas station; they’re just going to be paying higher prices.”

Tariffs will basically be frozen at a moderately reduced level. Peter called this bad news given that American consumers are primarily bearing the brunt of these taxes.

Peter pointed out that there is a clause in the deal that stipulates if either party complains about the other not living up to the deal, the party that is complained against can terminate the deal if it determines the complaint was in bad-faith. Peter said this isn’t really a deal at all.

This is just a list of suggestions. This is just a list of things that either party may decide to do or may not decide to do. And if one party doesn’t do what the other party thinks it’s supposed to do, and then that party complains, well, it doesn’t have to do anything at all because it just drops out of the deal. So the deal is much ado about nothing … It’s not a big positive for the economy. It’s not a game-changer.”

Furthermore, Peter said he doesn’t think there will ever be a Phase 2 deal.

- Source, Schiff Gold

A Simple Mistake: Peter Schiff’s Locked Wallet Issue Has Been Solved

You may recall last week we published an article about Peter Schiff where he couldn’t get access to his bitcoin wallet and rather than trying to find the right password to access it, he attempted to shame the leading cryptocurrency on Twitter. Of course, the community responded in hilarious ways including many prominent figures calling him out for being a ‘boomer’.

Schiff is a well-known crypto hater. Specifically, bitcoin being the one that he particularly hates - the whole industry is subject to his wrath on social media. Crypto Twitter has had a field day with Schiff during his rant on the leading cryptocurrency. It’s no surprise that many people assumed he simply forgot his password and blamed it on the Wallet rather than his memory. I mean, it isn’t hard to forget a password! No one would blame him for forgetting it however, trying to blame the wallet and industry itself lead to quite a lot of hate towards the businessman.

It turns out everything has been figured out though now as the mystery of the wallet password has now been solved. It turns out that the entrepreneur mistook his pin for his password, hence not being able to access the Wallet. Peter did admit that he made a costly mistake of confusing the two but also added that he never had a copy of his seed phrase.

Whether you love him or hate him, I respect him for admitting part of the blame was on his end. Clearing the air alone was just a brave thing for him to do, given the amount of hate he got from the Crypto Twitter community. Typically when you create a blockchain wallet account like Peter has, you will be asked to provide an email address and password. You’re obviously then asked to re-enter such a password for confirmation.

- Source, Crypto Daily

What Are Gold Stocks Telling Us About the Gold Market?

The price of gold is up by about 2.7% so far in 2020. But gold stocks are down on the year. Why is this happening and what is this telling us?

When we talk about gold stocks, we’re referring generally to stock in companies involved in gold mining and exploration. The valuation of these stocks as a group typically track with the price of physical gold. When the price of gold is going up, the miners typically follow along.

So, why this recent divergence?

Peter Schiff says the gold market is climbing a “wall of worry.” While gold is already in a bull market, investors still haven’t gone all-in.

Peter did some research and the last January that he could find where the price of gold went up and gold stocks dropped was in the year 2000.

So, what was happening at that time?

It was the peak of the dot-com bubble.

At its top in 2000, the Nasdaq rose above 5,000 and then lost about 80% of its value over the next two years. It bottomed out at just over 1,100 in 2002.

The year 2000 was also the bottom of a 20-year bear market in gold. Peter talked about it in a recent podcast.

"So, in January 2000, because you had this boom in the dot-coms, and this boom in the stock markets and the Nasdaq, because everybody was so excited about the new economy, they were bidding up the stock market. But they were also negative on gold because gold had been in a bear market for 20 years and even though the price of gold was rising a little bit early in January, there was still so much bearishness left over from this deep bear market that traders didn’t even care. They ignored the rise in the price of gold and they dumped gold stocks anyway. Well, that’s happening again today. It’s the same attitude. Everybody is very optimistic on the US stock market and despite the rise in the price of gold, they’re pessimistic and they’re dumping their gold stocks.”

Gold peaked at $1,900 an ounce in 2011 and then went through a significant correction over the next several years as the markets bought into the myth that the Federal Reserve would be able to raise interest rates and unwind QE. Gold began to rally again when the Fed started raising rates in December 2016 and really took off with the Powell Pause and rate cuts last year.

If you followed the trend in early 2000, ignored gold stocks and invested in the S&P 500 or Nasdaq, you made a big mistake. If you bought into the US bubble in January 2000, you lost a lot of money. Meanwhile, gold stocks followed the price of gold in a major rally.

"The fact that this January is very similar to that January and there are no Januaries in between that look anything like it, I think that’s another positive sign that we have a similar sentiment extreme on stocks when people should be bearish and people should be bullish on gold stocks when they’re not.”
Peter talked about the wall of worry during a recent interview on Kitco News, again pointing out these similarities between January 2000 and January 2020.

"Why are [investors] so negative now? Even though we’ve had a big increase in earnings in gold companies and gold stocks have been doing well, they’re climbing a wall of worry. People are rushing into the Nasdaq when they should be buying gold stocks. So, I think this is probably a harbinger of good things to come. I would take this as a contrarian indicator.”

And during a podcast after the US missile strike that killed an American general, Peter said he thinks the skepticism in the mainstream is actually a good sign.

"We’ve had nothing but bullish news for gold stocks. We have a $30 move up in the price of gold. We have heightened geopolitical risk associated with gold. Yet the gold stocks have gone down. Why is that? Again, I think you’ve got a lot of fearful traders. There’s a wall of worry in this bull market. There’s a lot of skepticism in the gold rally, which I regard as being healthy. You don’t have a devil-may-care, throw caution to the wind type of attitude the way you have it in the S&P 500. People are nervous in the gold stock market.”

Should you invest in physical gold, or gold stocks, or both? Peter explained the difference between the two during his Kitco News interview.

"Physical gold is a very secure, conservative store of value. It’s an alternative to keeping cash. Rather than keeping dollars or euros, keep gold. Once you get into mining stocks, you’ve got a whole new element of risk. You’re an investor in a mining company. There are a lot of different things that can go wrong.”

Both physical gold and gold stocks have a place in your portfolio. Peter and many others advise keeping about 10% of your portfolio in physical gold.

- Source, Schiffgold

Peter Schiff: Gold Could Go Much Higher Depending on US Election

Gold saw highs in 2019 that could be easily eclipsed by highs in 2020, according to Peter Schiff of Euro Pacific Capital.

“Depending on (the 2020 US presidential) election, we could go much higher,” he said at a gold panel in Vancouver on Monday (January 20). “If Bernie Sanders were to be elected president, just imagine what would happen to the price of gold the very night the results came in.”

Schiff was part of a panel talking gold with Rick Rule of Sprott (TSX:SII,OTC Pink:SPOXF), Frank Holmes of US Global Investors (NASDAQ:GROW) and Grant Williams of Vulpes Investment Management.

The panellists’ talk at the Vancouver Resource Investment Conference included topics such as the price of gold and its future trajectory (up), government regulation and its effect on social opinions on capitalism, cryptocurrency, valuation of gold companies, the purchasing of physical gold and thoughts on platinum group metals (PGMs).

On politics, Schiff said that he had opposed the conventional wisdom in 2016 that US President Donald Trump would be bad for the stock market, and he had since been vindicated.

“I always said that that’s nonsense. Why would people think Trump’s going to be bad for stocks? He’s promising to cut taxes, he’s promising to cut regulations — what about that is bad for stocks?”

The situation with the wildcard candidate was much different in 2020, though, he said.

“In the case of Bernie Sanders or Elizabeth Warren, they’re promising massive tax increases, they want to take control of corporate boards, they want to turn the means of production over to the workers, they want to raise taxes significantly, they want to impose new wealth taxes … I can’t think of anything worse for the stock market for that, yet no one’s even worried about the possibility that this might happen.”

The conversation later moved to social discontent with economic disparity around the world, with Schiff touching on a common theme among the talking heads on stage that the Federal Reserve was to blame for economic issues.

He opined, “Because of how unpopular capitalism has become thanks to the (Federal Reserve) and the government, I think that Bernie Sanders can ride that same type of wave of voters’ discontent.

“(Voters are) being told constantly how great everything (would be with Sanders) — just like they were being told when Obama was president.” However, he didn’t believe that everything was truly great under Obama.

“Trump tapped into that vein with ‘Make America great Again’ and how he was going to drain the swamp — and he didn’t do either, and so I think that Bernie Sanders can get a lot of mileage with let’s make America socialist.”

Moving on to disparity between the gold price and the value of gold companies, Rule and Holmes labelled the gold industry as historically proven “destroyers of capital,” but said that was likely to change.

“The disconnect between gold and gold stocks has to do with the historic underperformance of the gold miners in the last decade. In the last decade the gold price went from US$250 to US$1,900 and free cash flow per share on the US index went down,” said Rule. “That takes special skill.”

“You had really, really skilled underperformance,” he continued, “(but) a wonderful thing has happened — it’s happened slowly but markets work — about 70 percent of those management teams were allowed to pursue other employment opportunities.

“If the industry can prove to investors that they’re not going to destroy capital, I think they’ll do extremely well.”

Talking about the value of companies, Rule said that there was a big gap between major and junior gold companies.

“(Juniors are) way, way overcapitalized. There’s probably 2,000 juniors worldwide, of which probably 500 are viable. So the business itself consumes way, way, way too much (general and administrative expenses), and basically only sells hope.

“That doesn’t mean that there aren’t great juniors,” he added, stating that the idea that the junior resources industry is undercapitalized is “fallacious.”

Finally, the panellists were asked for their thoughts on platinum and palladium, and Rule pulled no punches in saying that the sector was far too easily able to be disrupted supply-wise.

“With regards to PGM metals, they come from Russia, a fairly opaque country; South Africa, a wreck; and Zimbabwe, a joke. Eighty percent of the world’s supplies of PGM metals come from places where the supply chain could be threatened.

“Assuming that the economy stays intact, we have real supply issues in the platinum and palladium business having to do particularly with South African production.”

The panel closed with some words of wisdom from Rule, who spoke highly of the advantages Vancouver-based investors had in the current investing environment, which he has said previously is very healthy and full of opportunity.

“Being in Vancouver, you’re in an absolutely perfect place. You’re living in a community that’s got mining. You can talk to the executives first hand; if they won’t return your call, they’re telling you they don’t care about you, so don’t buy their stocks.

“There’s just no excuse for anyone in this audience not making an amazing amount of money in the next five years. Don’t waste this boom: You’re in the right place at the right time.”

- Source, Gold Investing News

Peter Schiff: Americans Are in for a Rude Awakening

Peter Schiff discusses China's economy, their rising Renminbi and what that means for American consumers and investors.

- Source, Peter Schiff

Peter Schiff: The Art of the Fake Trade Deal

Dow Jones closed above 29,000 today for the first time ever. Part of the impotence of this rally has been anticipation of the trade deal with China, but the majority of the rally is due to the policies of the Fed as it quietly returns to quantitative easing. 

The so-called good news of the trade deal is in the past and traders who were buying the rumors may start selling off on the facts. Especially since the facts of the trade deal didn’t even live up to the rumors.

- Source, Schiff Gold

Peter Schiff Insists That Bitcoin is Not Money, Says Its Buyers Will Suffer Loss

After finally figuring out what happened to his Bitcoin wallet, Peter Schiff, the CEO of Euro Pacific Capital, got back to his regular hobby of trashing Bitcoin. In response to Anthony Pompliano, one of the loudest crypto proponents, Schiff claims that the cryptocurrency with a market cap of $154.1 bln doesn't qualify as money.

"The fact that the price of Bitcoin went up in the past does not qualify Bitcoin as being money and it has nothing to do with my analysis."

In case you were worried about Peter Schiff's Bitcoin stack, he has finally realized what happened to his wallet. It appears that the gold bug simply mistook his PIN for the password, which is why he can no longer access his coins.

Schiff's latest tweet instantly went viral with many members of the cryptocurrency proponents being genuinely surprised that the infamous Bitcoin critic could make such a beginner-level mistake.

As reported by U.Today, Schiff made plenty of headlines last week by publicly admitting to losing all his Bitcoin.

- Source, U.Today

Bitcoin is not money even if it costs nearly $9000

Ray Dalio criticized Bitcoin at Davos

The founder of Bridgewater Associates Ray Dalio praised gold and criticized Bitcoin while speaking at the World Economic Forum in Davos, Switerzland, CNBC reported.

According to the guru of investments, the first cryptocurrency is too speculative to serve as money.

“There’s two purposes of money, a medium of exchange and a store hold of wealth, and bitcoin is not effective in either of those cases now,” he said.

Dalio also urged investors to ditch cash as they are worthless as an. investment instrument.

“Cash is trash. Get out of cash. There’s still a lot of money in cash,” he added.

According to Dalio, gold is the best choice for long-term investors. He believes that the precious metal should be included in investment portfolios for diversification purposes.

Notably, the same opinion is shared by another prominent gold bug Peter Schiff, who recently confessed that he had lost keys to his Bitcoin wallet.
BTTC/USD: technical picture

BTC/USD has been moving inside the range limited by SMA200 daily ($9,000) on the upside and 50% Fibo retracement for the upside move from December 2018 low to July 2019 high ($8,500). The coin is set to continue its directionless oscillations until one of those barriers are broken.

If bears have an upper hand, the sell-off may be extended towards the next critical support at $8,000. This area is reinforced by the broken upper boundary of the wedge formation and SMA100 daily. Moreover, it served as a lower boundary of a consolidation range since the beginning of January. A sustainable move below this hurdle will open up the way towards SMA50 daily at $7,600.

On the upside, a strong move above $9,000 will open up the way towards the recent high of $9,184 and allow for a further recovery towards $9,300. This resistance is created by the upper line of the daily Bollinger Band and followed by 38.2% Fibo retracement for the upside move from December 2018 low to July 2019 high at $9,750.

BTC/USD daily chart

- Source, FXS

Peter Schiff: I Lost All the Bitcoin I Ever Owned

“Easy come, easy go,” Euro Pacific Capital CEO Peter Schiff joked when talking about losing all the cryptocurrency that was gifted to him after his bitcoin wallet got corrupted.

Schiff told Kitco News on the sidelines of the Vancouver Resource Investment Conference (VRIC) that “crypto was my worst investment because I lost 100%.”

At least all the cryptocurrency was gifted to Schiff. “I didn’t buy it. I got them for free. Had I bought some, that would have been even worse,” he said.

The story is that Schiff was gifted about $2,000 worth of bitcoin after Erik Voorhees opened up a wallet for him on Blockchain.com.

“Initially, I did a debate on bitcoin with Eric Voorhees at the Soho Forum. After the debate, we went out to dinner. Eric set up a wallet for me … Ironically I’ve got some [crypto] now. It was a tiny amount,” Schiff said.

After finding out that Schiff had a wallet, co-founder and partner at Morgan Creek Digital Anthony Pompliano asked for the wallet ID to send Schiff $100.

“Anthony says I’ll give you some money, I said okay, here is my wallet ID … And Anthony never gave me the $100, but other people gave me about $2,000 worth. That was the entire content of my wallet,” Schiff explained.

After that, rumors began to circulate that Schiff was a secret bitcoin supporter.

“I was on the Internet the other day and someone was bringing up that I was secret bitcoin holder. So, I went to check out my wallet on my phone. And I go to log in and normally it has a keypad and I push in my numeric code. And all of a sudden, it says that I have been logged out and something is wrong and I have to log back in, but my code doesn’t work anymore,” Schiff said. “So now, my bitcoin is gone.”

“I lost all of my bitcoin. It is all gone,” he added. “Initially, [bitcoin] has no instruct value and now [it] has no market value because even if I wanted to sell it, I can’t.”

Schiff pointed out that some people think he just forgot his password, to which he replies: "100% no.”

“I knew exactly what my password was. It was very simple. It was impossible for me to not remember it. It is just the wallet doesn’t recognize it anymore and I have no way of retrieving it. So, my bitcoin is still in that wallet, it just can’t be accessed,” he said.

- Source, Kitco News

I’m not an old fool, gold will provide ultimate hedge not bitcoin says Peter Schiff

As the Fed expands their balance sheet in the form of “unofficial” quantitative easing, inflation will rise, which will push gold prices up said Peter Schiff, CEO of Euro Pacific Capital. 

“I think the price of gold is going up next year, so I want to own it, but I don’t know how much is going to go up, but I do believe that once we really start to take off, gold can go from $1,500 to $2,000 very quickly,” Schiff told Kitco News.

- Source, Kitco News

Next recession will be more severe than the last, says Peter Schiff

As the Fed expands their balance sheet in the form of “unofficial” quantitative easing, inflation will rise, which will push gold prices up said Peter Schiff, CEO of Euro Pacific Capital.

“I think the price of gold is going up next year, so I want to own it, but I don’t know how much is going to go up, but I do believe that once we really start to take off, gold can go from $1,500 to $2,000 very quickly,” Schiff told Kitco News.

“The fact that the curve has inverted I don’t think means that the recession has been avoided. Maybe it’s been delayed a little bit, and typically when you have recessions, the yield curves will normalize prior to the recession,” he said.

Schiff said that we are still headed for a recession and that it will be more “severe” than the last one.

- Source, Kitco News

Peter Schiff: Phase One Is a Truce Not a Victory

The U.S. stock market continues to add to its gains; the Dow Jones is up another 100 points today - a new record high: 28,235.89. 

We were up better than 200 points at one point in the day, but all the indexes are hitting new 52-week, or record highs. Basically, we continue to bask in the light of the U.S. China Trade Deal that on Friday, we finally got news that the rumors of a trade deal were actually true. 

There actually is a trade deal because the Chinese have agreed, or admitted that they, too have come to some type of understanding with the United States on a Phase 1 Deal.

- Source, The Peter Schiff Podcast

Powell Resurrecting the High Inflation Volcker Buried