Bitcoin critic Peter Schiff is at it again. Key Takeaways Schiff urges Bitcoin holders to sell above $90,000. Economist remains bullish on precious metals despite volatility. Schiff accused Wikipedia of publishing false and defamatory claims on his biography page. Veteran gold advocate and longtime crypto critic Peter Schiff urged investors to sell Bitcoin as it climbed back above $90,000 on Monday, arguing the rally offered another opportunity to exit the market. The comments followed a public ...

Core Insights - The 2024 Year in Review highlights the rise of propaganda, the impact of AI, and the emergence of asset bubbles, particularly in precious metals, while questioning the nature of truth in a rapidly changing technocratic world [3][16]. Group 1: Propaganda and Truth - The current era is characterized as a "Golden Age of Propaganda," where narratives are controlled by elites through mass media and social platforms, leading to a distortion of facts and a loss of shared truths [16][14]. - The author expresses frustration over the erosion of reliable sources of information, suggesting that the overwhelming noise in media makes it difficult to discern fact from fiction [15][20]. Group 2: Precious Metals Market - The report emphasizes a significant interest in precious metals, particularly gold, silver, and platinum, with gold's long-term performance being compared favorably against major stock indices [60][64]. - Gold has shown a remarkable return of over 1309.5% since 2000, outperforming the S&P 500 and NASDAQ over the same period [66]. - The current geopolitical climate, including the actions of the BRIC nations, is pushing countries to reconsider their gold reserves, with the U.S. now holding only 20% of global gold reserves compared to over 50% in the past [70][84]. Group 3: Investment Implications - The report suggests that the demand for gold and silver is being driven by geopolitical tensions and a potential shift in reserve currency dynamics, which could lead to significant price increases [84][89]. - The author notes that the physical gold market is under pressure due to a high paper-to-physical ratio, indicating potential supply shortages that could lead to price spikes [82][100]. - Platinum is highlighted as a rare metal with increasing industrial demand, particularly in the automotive sector, which could lead to supply constraints and rising prices [106][111].

Market Trend - Precious metals sector is bullish across all timeframes [1] - Expecting a Santa Rally blow-off top [1] Specific Metals - Bullish sentiment towards silver, platinum, and palladium [1]

Economic Indicators - US industrial production in November fell by -0.1% month-over-month, which was weaker than market expectations of +0.1% [1] - Manufacturing production in November decreased by -0.4% month-over-month, also below expectations of +0.1% [1] - Durable goods orders in October fell by -2.2% month-over-month, worse than the expected decline of -1.5% [2] - Core capital goods orders in October rose by +0.5% month-over-month, slightly above expectations of +0.3% [2] - The Philadelphia Fed non-manufacturing index for December fell to -16.8, lower than the expected rise to -15.0 [3] - The US consumer confidence index for December decreased by -3.8 points to 89.1, below the expected level of 91.0 [3] GDP and Inflation - The US Q3 real GDP rose by +4.3% quarter-over-quarter annualized, surpassing expectations of +3.3% [4] - The Q3 GDP Price Index increased by +3.8% quarter-over-quarter annualized, significantly above expectations of +2.7% [4] - The Q3 core PCE Price Index rose by +2.9% quarter-over-quarter annualized, in line with expectations [4] Currency and Monetary Policy - The dollar is under pressure due to the Fed's liquidity boost, with $40 billion monthly purchases of T-bills starting in mid-December [5] - The dollar index (DXY) fell by -0.22%, despite a stronger-than-expected GDP report [7] - The FOMC is expected to cut interest rates by about -50 basis points in 2026, while the Bank of Japan is anticipated to raise rates by +25 basis points [6] Precious Metals Market - Gold and silver prices increased, supported by strong central bank demand and geopolitical risks [12][14] - The PBOC's gold reserves rose by +30,000 ounces to 74.1 million troy ounces in November, marking the thirteenth consecutive month of increases [14] - Silver inventories in Shanghai fell to 519,000 kilograms, the lowest level in 10 years, contributing to price support [15]

[music] Good Monday morning and welcome to opening bid. I'm Yahoo Finance executive editor Brian Sazi. We have a tale of two stories playing out in markets as investors race into your end.On the one hand, AI plays like Nvidia, Microsoft are back in rally mode. Then on the other side of this trade, uh historically more defensive areas of the market are ripping higher. Gold prices are now at another record.The same goes for copper. Here's what's on my mind as it relates to these two moves. First, AI stocks ar ...

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