Abdul El-Sayed says that he wants the government to put money in people's pockets. But the government has no money that it doesn't first take from people's pockets. So what he's really advocating is that the government take money away from some people and give it to other people.

With all of the major stock market indexes lower this week, the standout winners were precious metals mining stocks. The $GDX surged 9.6%. This is a sign of things to come. A sharp turn to the left, and the higher inflation that will result, will be extremely bullish for gold.

Over the past six years, $MSTR has been the biggest buyer of Bitcoin in the world. Yet the current price of Bitcoin is lower than its average cost. That means all @saylor has to show for six years of stacking is a loss. MSTR would have been much better off buying gold or the S&P.

Fox News keeps telling their audience that the Trump economy is booming. If the economy were booming, Republicans would have won the midterms. In fact, one reason so many Republicans voted for Democrats is the frustration of being told there's a boom while they experience a bust.

After I decisively won my defamation lawsuit and secured a judgment against five defendants, The New York Times ran the following headline. “Australian Media Company to Pay Peter Schiff to End Defamation Suit.” The court awarded me damages exceeding the statutory cap and ordered the defendants to pay indemnity costs, a rare award reserved for particularly egregious conduct. The headline makes it sound as though the company paid me to settle. In fact, the defendants lost, and the court ordered them to pay me. The headline doesn’t even name the Australian media company or mention the journalists who also lost and were ordered to pay damages. I believe Matthew Goldstein and The New York Times deliberately framed the story to cover for his Australian partner Nick McKenzie. In my view, the headline and article were designed to deny me the public vindication I won in court. Because of that misleading article, Wikipedia refuses to acknowledge that I won my lawsuit, even though the Federal Court of Australia published the judgment on its official website. Wikipedia is treating the Times as a more reliable source on the outcome than the court that issued the judgment. The Times uses its undeserved reputation to disseminate fake news. Nothing you read in The New York Times can be believed. @MattGoldstein26 @nytimes @Ageinvestigates

Global investors bought U.S. stocks based on a Trump-induced misconception that the U.S. had become more pro-business, with stronger growth and lower deficits. Now that we’ve moved sharply in the other direction, that trade will reverse. The giant sucking sound is capital flight.

If traders understood what’s happening, gold would have soared today. The U.S. economy is headed for a recession. Stock and real estate prices will crash, wiping out the net worth of millions. Companies will close, laying off millions. The reverse wealth effect and job losses will cause consumer spending and GDP to collapse. This will force the Fed to abort the planned December rate hike. Trump and the Democrats will work together to pass a massive stimulus package, which the Fed will finance with the mother of all QE programs. Annual budget deficits will approach $5 trillion, tanking the dollar and sending consumer prices soaring. The pressure on the bond market and the dollar will lead to a sovereign debt and currency crisis. Gold will be the only safe-haven asset left. Buy yours now from Schiff Gold before more people realize what’s happening and buy theirs.

The HMRC is still trying to frame my bank for money laundering and tax evasion to save face after the J5 investigation failed to show that my bank actually helped anyone evade taxes or launder money. HMRC issued a press release about two men jailed for tax fraud. The fraud reportedly ran from 2016 to 2023, and HMRC says the men laundered money through 118 bank accounts, credit cards, and cryptocurrency trading platforms. Yet Euro Pacific Bank was the only financial institution named in the release. I searched all 6,615 entries in my records of accounts that were open when my bank was shut down in June 2022. I checked both men’s names and the names of both companies they used. I found no matching account. If either man or either company ever had an account at my bank, I believe we likely closed it before the shutdown. We closed thousands of accounts over suspicious activity. HMRC hasn’t identified the account holders or disclosed the dates of the transfers, so I can’t verify which accounts it’s referring to. My bank was never fined for anti-money-laundering violations, and no one at the bank was criminally charged with any such violation. By singling out my bank and mentioning its shutdown, HMRC was trying to imply that my bank facilitated those crimes and that regulators shut it down for that reason.

No party can solve the affordability crisis. Prices rise due to soaring government spending that exceeds the growth of tax revenue. We pay the difference with inflation. Higher prices are a tax to finance spending. Since neither party will cut spending, that tax will keep rising.

While all the attention is focused on the deflating AI bubble, no one is talking about the Bitcoin bubble. The biggest difference between the two is that while AI has actual value, Bitcoin has none. The midterms supplied the final pin. Sell now before the air comes gushing out.

Don't be suckered into buying $FNMA or $FMCC based on the hype that Trump can still follow through with "privatization" during the 2nd half of his term. That pipe dream is dead. It was very unlikely to happen even before Democrats won the midterms. Now it's virtually impossible.

Gold and silver mining stocks shouldn't be selling off with the general stock market. The Democratic landslide, and what it portends for 2028, is the most bullish development that could happen for precious metals. The coming rally will be one for the ages.

Yesterday's stock market rally in the face of the Democratic landslide made no sense. In contrast, today's sell-off makes perfect sense. Expect more days like today. As a result of the change in the political direction of the country, the U.S. economy will be less productive, have bigger government, larger deficits, more regulations, and higher taxes, inflation, and interest rates. All of this will be bearish for the U.S. economy and the stock market. Unfortunately, the Republicans and Fox News have no one but themselves to blame. Under Trump, we had a chance to make America great again, but we blew it by continuing the same failed policies that led to our fall from greatness in the first place. Under Democratic socialists, who will be empowered by the failure of Republican socialist policies, that fall will now accelerate rapidly.

The most likely legislation Congress can pass that Trump will sign will preserve all the tax cuts Trump brags about but include all the extra spending that Democrats want. It may also contain a complete repeal of the national debt ceiling and price controls on credit card interest rates. The result will be massive increases in already massive federal budget deficits. If the economy also slips into recession due to a big slowdown in AI capex, budget deficits currently running at around $3 trillion annually could rise to nearly $5 trillion. That will send the national debt soaring to $50 trillion by the end of Trump's term. To accommodate those massive deficits, the Fed will open up the monetary spigots like never before, launching the mother of all QE programs. The U.S. dollar will tank, and consumer prices will go through the roof. This will also put substantial upward pressure on long-term bond yields and mortgage rates, crushing the economy and housing market. To avoid a worse financial crisis than in 2008, the Fed will choose higher inflation instead and buy Treasuries and MBS in record amounts. Since the Fed won't buy corporate or municipal bonds, expect those yields to soar, wreaking havoc on state and local governments and the stock market. Since credit card interest rates will likely be capped, expect most consumers to be completely cut off from credit. If price controls extend to consumer goods, expect shortages, long lines, black markets, widespread power outages, and civil unrest. Since the war can't really end unless we surrender by caving in to Iran's demands, it will likely continue. Since the Strategic Petroleum Reserve will run dry if we don't stop the drain, oil prices will rise sharply, perhaps to $150–$200 per barrel. Even if Trump manages to end the war by promoting a defeat as a great victory, oil prices will rise anyway. The 2028 election will be a blame game, with each party accusing the other of being responsible for the worst economy ever and the highest inflation in U.S. history. Voters have a track record of blaming presidents and their parties for the affordability crises, so not only will the Democrats win the White House, but they will also increase their majorities in both houses of Congress, likely reaching a filibuster-proof 60 seats in the Senate. Their policies will risk turning record-high inflation into hyperinflation. The only thing you can do now is protect yourself, as there is nothing you can do to protect the country. In fact, by not going broke like the vast majority of Americans will, you will be better positioned to help rebuild what both Democrats and Republicans will have destroyed. Load up on gold and silver now while you can still afford to buy them.

By embracing the croniest of crony capitalism, Trump and the Republicans have so discredited the real thing that they have paved the way for socialism to take hold in America like never before. The road leads to much higher inflation and a much lower American standard of living.

After being up over $130 today, gold is up another $55 tonight, trading above $4,100. It's possible it may never trade below $4,000 again. Silver is up another 40 cents, trading above $52.50. It may never trade below $50 again. Just in case, buy both now.

The reason Republicans didn't do as badly in the House as they did in the Senate is gerrymandering makes it really hard to unseat incumbents. Had all 100 senators been up for reelection, there would hardly be any Republicans left in the Senate. Good thing terms are staggered.

It's shameless how @larry_kudlow keeps lying that inflation is so much lower under Trump than it was under Biden. Inflation is higher over Trump's first two years than it was during Biden's last two. Trump shares the blame for the higher inflation during Biden's first two years.

Shares of $DJT plunged 25% today, closing at an all-time low $4.49, down 95% from its 2022 high. Investor are likely afraid Congress will put a stop to Trump's using this company to sell market-moving insider information so high-frequency traders can front run retail investors.