Money

Peter Schiff Predicts New Highs for Gold and Silver Amidst Market Shifts

This article details Peter Schiff's prediction of a significant price surge for gold and silver, advising investors to act quickly. It explores the recent market movements influencing these precious metals and highlights Schiff's contrasting views on cryptocurrencies like Bitcoin.

Seize the Moment: Gold and Silver Poised for Unprecedented Gains!

Schiff's Golden Forecast: A Week of Record-Breaking Potential for Precious Metals

Renowned financial expert Peter Schiff has issued a compelling directive to investors: secure your positions in gold and silver before the upcoming week's trading commences. He firmly believes that both metals are on the cusp of reaching unprecedented valuation peaks.

Urgent Advice: Invest in Precious Metals Before Asian Markets Open

In a recent social media announcement, Schiff emphasized the urgency of his recommendation. He urged potential buyers not to delay until U.S. markets resume, but rather to make their acquisitions of gold and silver immediately, ideally before Asian markets begin trading on Sunday evening. His conviction stems from an expectation of new all-time highs for both commodities early in the forthcoming week.

Market Reaction: Gold and Silver Rally Following FOMC Announcement

Schiff's timely commentary arrives as both gold and silver have experienced notable price increases. This surge began in the wake of the Federal Open Market Committee's decision to implement a 25 basis point rate reduction last week, on December 10th. This monetary policy shift appears to have bolstered the appeal of traditional safe-haven assets.

Precious Metal Performance: Spot Prices Approach Historic Levels

At the time of this report, spot gold prices were trading around $4,300 per troy ounce, having previously touched nearly $4,350. This figure positions gold tantalizingly close to its all-time high of $4,382. Concurrently, spot silver prices established a new peak at $64.67 before moderating slightly to approximately $62.02 per troy ounce, demonstrating robust market momentum.

Contrasting Views: Schiff Advocates for Silver Over 'Fool's Gold' Bitcoin

Schiff's recommendation to invest in gold and silver is consistent with his broader skepticism towards the cryptocurrency market. He previously characterized Bitcoin's recovery as an opportune moment for investors to offload what he termed 'fool's gold' and redirect their capital into silver. He enthusiastically noted silver's achievement of a new record high, surpassing $60 per ounce, following a substantial intraday increase.

Bitcoin's Intrinsic Value: A Subjective Illusion Versus Gold's Tangible Reality

Earlier, Schiff openly questioned Bitcoin's valuation, labeling it as 'purely subjective.' He presented a stark contrast to gold, asserting that the yellow metal possesses an 'objective' value derived from its tangible attributes and industrial applications. He consistently champions gold's inherent utility, citing its excellent conductivity, malleability, and resistance to corrosion as fundamental advantages.

Cautionary Warning: Schiff Predicts Exodus from Bitcoin Market

In November, Schiff issued a cautionary statement, foreseeing a 'race to exit Bitcoin' as the cryptocurrency experienced a 4% decline, falling below the $89,000 threshold. He argued that Bitcoin's once-held reputation as a top-performing asset was losing its credibility, signaling a potential shift in investor sentiment away from digital currencies.

United States Launches 'Pax Silica Initiative' to Strengthen Global AI Supply Chain

The United States has initiated a significant international collaboration, dubbed the 'Pax Silica Initiative,' to fortify the global artificial intelligence supply chain. This ambitious project seeks to ensure the seamless flow of essential components, from raw materials to advanced microchips, recognizing economic stability as a cornerstone of national security.

Forging a Secure Future for AI: A Global Alliance for Technological Resilience

A Unified Front for AI Resource Security

On Thursday, the United States convened the inaugural Pax Silica Summit, bringing together a consortium of nine nations to address the critical need for a secure global AI supply chain. This alliance aims to safeguard the integrity of everything from crucial mineral resources to cutting-edge semiconductor technologies, highlighting the interconnectedness of technological advancement and national well-being.

International Partnership Takes Shape

The groundbreaking summit, spearheaded by Under Secretary of State for Economic Affairs Jacob Helberg, saw active participation from key global players including Japan, South Korea, Singapore, the Netherlands, Israel, the United Arab Emirates, the United Kingdom, and Australia. In a broader show of international interest, Taiwan, the European Union, Canada, and the Organisation for Economic Co-operation and Development (OECD) also joined the discussions as observer nations, emphasizing the widespread recognition of this initiative's importance.

Prioritizing Supply Chain Integrity

The official declaration from the Department of State outlined the initiative's comprehensive scope, which targets potential weaknesses across various segments of the AI ecosystem. This includes the intricate processes of semiconductor manufacturing, the extraction and refinement of critical minerals, the reliability of energy networks, and the robust computational capabilities vital for AI development. These strategic areas are deemed crucial for maintaining a resilient and uninterrupted technological progression.

Key Industry Players and Strategic Insights

Prominent corporations from the participating nations, such as Samsung Electronics Co., SK Hynix, ASML, Sony Group Corp., Hitachi Ltd., Fujitsu, Temasek, Google DeepMind, MGX, and Rio Tinto, are integral to this initiative. Their involvement underscores the industry-wide commitment to securing the AI supply chain. David Sacks articulated a core philosophy behind this collaboration: "One of the key ways to win a technology race is to create the largest ecosystem. Pax Silica helps us do that," highlighting the strategic advantage of broad cooperation.

U.S. Leadership in AI Innovation

The United States is actively pursuing strategies to maintain its preeminent position in the field of artificial intelligence. Under Secretary Helberg has instructed American diplomats to pinpoint crucial infrastructure developments and to harmonize economic security measures across allied nations. This proactive approach is designed to ensure that the nation remains at the forefront of AI innovation and application.

Navigating Global AI Competition

In a related development, Nvidia Corp. has been exploring increased production of its H200 chips, particularly after President Donald Trump's decision to permit their export to China, albeit with an imposed 25% tariff. President Trump previously asserted in September that the U.S. was "easily beating" China in the AI race, attributing this success to his administration's tariff and energy policies. These actions reflect the ongoing geopolitical dynamics and strategic efforts to shape the future landscape of artificial intelligence.

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Federal Judge Orders Justice Department to Return Seized Data in Comey-Related Case, Citing Constitutional Violations

A recent federal court decision has brought into question the methods employed by the Justice Department, as a judge ordered the return of data previously seized from an individual connected to former FBI Director James Comey. This directive underscores judicial scrutiny over governmental data acquisition and retention practices, particularly when constitutional safeguards are implicated.

U.S. District Judge Colleen Kollar-Kotelly's ruling highlighted significant concerns regarding the Justice Department's conduct. She found that the government had infringed upon the constitutional rights of Daniel Richman, a law professor, by holding onto and utilizing his digital communications and hard drive data without proper legal authorization. The judge’s memorandum detailed a “remarkable breach of protocol” and described the agency's actions as demonstrating “callous disregard” for Richman's rights, emphasizing that even in investigations, due process and individual liberties must be respected.

This case, stemming from data initially obtained in 2017 during an inquiry related to Comey, gained further attention when prosecutors attempted to use this same material for a new indictment after a previous case was dismissed. The legal complexities surrounding the Comey indictment have intensified, particularly after questions were raised about the grand jury process and claims from figures like Michael Cohen regarding Comey's alleged involvement in the Russia investigation, adding layers of intrigue to an already high-profile legal battle.

The judiciary serves as a critical check on governmental power, ensuring that all actions, even those taken in the pursuit of justice, adhere strictly to the foundational principles of law and individual rights. This ruling reaffirms the judiciary's role in upholding the sanctity of the Constitution and safeguarding citizens from potential overreach by federal agencies. It sends a clear message that procedural integrity and constitutional compliance are paramount, contributing to public trust in the legal system and the protection of civil liberties.

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