(Zero Hedge)—Last week Peter joined Oliver Renick on his show, “Market on Close,” on the Schwab Network. They discuss gold’s stellar year in 2024 and where the metal is heading, and Peter also comments on the price of crude oil, treasury yields, and the Fed’s recent rate cut.
Peter compares gold in 2024 to gold in 1979 but notes one key difference. In 1980, the Fed raised rates, putting a stop to gold’s rise. Rate hikes are highly unlikely after the Fed’s recent announcement:
“Gold is up almost 30% so far this year. Another all-time record high today, getting close to 2700 in the spot market. This is the best year that gold has had since 1979…
…A key difference between now and 1979? That was the end of the gold bull market. And in 1980, Paul Volcker raised interest rates up to 20%.
That’s what killed the bull and brought inflation down. But the current Fed is cutting rates. It’s going to cut rates more in 2025. So, gold is just getting started.”
A 50 basis point rate cut signals that either the Fed is scared of America’s economic future, or they believe we’re already in a recession:
“Well, the Fed is very desperate. I mean, normally they wait until there’s a problem before cutting rates.
They wait for a major stock market decline. They wait for a recession. But here, they’re cutting rates even before we’re officially in a recession and with the stock market at all-time record highs, with real estate prices at all-time record highs, and with the gold price at all-time record highs.
We’ve never had the Fed start cutting rates when gold was at an all-time record high. And in fact, the record high in gold proves that the Fed’s rate cut was a mistake.”
A lot of the data that supposedly portrays a healthy economy is corrupted by the pervasiveness of private and public debt. GDP growth is one example:
“The GDP is consumers spending borrowed money to buy more expensive groceries and stuff like that. The government spending borrowed money is a big part of that GDP. And we have a massive deficit that is a consequence of this fake GDP growth…
…We do not have a good economy. We don’t have a growing economy. We have inflation. And inflation creates the illusion of economic growth. But people are getting poorer, even though the numbers are going up again.”
For more Schiff insight and insight from the Austrian school of economics, watch a recent interview between Peter and Jason Burack, host of “Wall Street for Main Street.”
Why One Survival Food Company Shines Above the Rest
Let’s be real. “Prepper Food” or “Survival Food” is generally awful. The vast majority of companies that push their cans, bags, or buckets desperately hope that their customers never try them and stick them in the closet or pantry instead. Why? Because if the first time they try them is after the crap hits the fan, they’ll be too shaken to call and complain about the quality.
It’s true. Most long-term storage food is made with the cheapest possible ingredients with limited taste and even less nutritional value. This is why they tout calories so much. Sure, they provide calories but does anyone really want to go into the apocalypse with food their family can’t stand?
This is what prompted the Llewellyns to launch Heaven’s Harvest. They bought survival food from multiple companies and determined they couldn’t imagine being stuck in an extended emergency with such low-quality food. They quickly discovered that freeze drying food for long-term storage doesn’t have to mean sacrificing flavor, consistency, or nutrition.
Their ingredients are all-American. In fact, they’re locally sourced and all-natural! This allows their products to be the highest quality on the market, so good that their customers often break open a bag in a pinch to eat because they want to, not just because they have to due to an emergency.
At Heaven’s Harvest, their only focus is amazing food. They don’t sell bugout bags, solar chargers, or multitools. They have one mission – feeding Americans in times of crisis.
What they DO offer is the ability for people to thrive in times of greatest need. On top of long-term storage food, they offer seeds to help Americans for the truly long-term. They want them to grow their own food if possible which is why they offer only Heirloom, Non-GMO, Non-Hybrid, Open-Pollinated seeds so their customers can build permanent food security on their own property.
