In the middle of tax season, the Internal Revenue Service has finally made it clear about its classification of bitcoin and other digital currencies: it’s property and not a currency. This means the virtual currency would be subjected to tax akin to ordinary income or as an asset for capital gains taxes. The IRS confirmed […]
Archives for March 2014
David Stockman: Massive price inflation since 2000 for everyday living expenses
On his Contra Corner this week, David Stockman, former budget director during the Reagan administration and author of “The Great Deformation,” published a series of charts illustrating the fact that the United States has undergone serious price inflation since the year 2000. Despite the Federal Reserve and Wall Street experts arguing that the U.S. is […]
Higher food price inflation coming to U.S. this year: USDA
Keynesian economists and proponents of the Obama administration like to make the case that inflation is invisible and that consumer prices are quite low. However, the U.S. Department of Agriculture continues to state the opposite. This year, according to the USDA, food price inflation is expected to rise between 2.5 and 3.5 percent. The federal […]
Gold hitting $9,000 and $50,000 – Are these legitimate forecasts for gold prices?
After a disappointing 2013, gold has started off the year doing quite well, despite finishing at a one-month low during the Monday trading session. Nevertheless, some Wall Street traders and contrarian investors see gold hitting new highs in the near future. One forecast that has been making headlines was made by James Rickards, portfolio manager […]
Peter Schiff: Janet Yellen is not hawkish, Fed won’t end QE
The markets and finance experts are still reacting to last week’s announcement by Federal Reserve Chair Janet Yellen that the central bank will soon end its quantitative easing measures and raise rates. Yellen also released economic data in which she blamed the weather for some of the negative findings. Peter Schiff sat down with CNBC […]