BRICS Countries Should Turn to Gold
On Friday, Peter dropped another episode of the Peter Schiff Show. He comments on an IMF conference in Europe, the newsworthy BRICS conference held in Russia, and the latest political proposals made in the presidential race, namely Donald Trump floating the idea of replacing income taxes with tariffs and Kamala Harris taking aim at subscription services.
First, Peter addresses the turbulence in mining stocks. Newmont suffered a major blow after missing earnings, and the sector in general was down this week:
“Even though gold was positive on the week, gold stocks got crushed. The GDX, which is the seniors, the biggest index, was down 5.3% on the week. … But the reason was Newmont Mining, the biggest gold company in the world and the only gold company in the S&P 500, which reported earnings after the bell on Wednesday. Newmont closed the day down 14%.
Despite this, Peter is optimistic that Newmont is still a valuable company. They slightly missed profit forecasts, but are setting new earnings records and matched revenue expectations:
“It was actually the best quarter in five years. And if you compare the quarte
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LewRockwell.com is a libertarian website that publishes articles, essays, and blog posts advocating for minimal government, free markets, and individual liberty. The site was founded by Lew Rockwell, an American libertarian political commentator, activist, and former congressional staffer. The website often features content that is critical of mainstream politics, state intervention, and foreign policy, among other topics. It is a platform frequently used to disseminate Austrian economics, a school of economic thought that is popular among some libertarians.
