Peter’s Blog

Earlier this week, Federal Reserve governor and vice-chair nominee Lael Brainard indicated the central bank will shrink its balance sheet at a “considerably” more rapid pace than it did during the previous cycle. I, Peter Schiff and a few others outside the mainstream have said the Fed won’t be able to do this. Why not?

The national debt stands at $30.3 trillion and the US government continues to run massive deficits. But does it really matter? Some people say that it doesn’t because “we just owe the debt to ourselves.”

Suddenly, Fed chair Jerome Powell is a tough guy. Is he though? Earlier this week, Powell delivered what Reuters called “his most muscular speech to date” on the battle against inflation.

AMC Theaters bought a gold mine last week. A literal gold mine.

This may be the dumbest thing you read today. Not my words, but this CNN article I’m about to tell you about.

Last week, I asked the question: is the US undermining the dollar’s credibility? It appears the answer is — yes. In another blow for dollar dominance, Saudi Arabia is reportedly considering pricing at least some of its Chinese oil sales in yuan.

The Fed is supposedly about to step into the ring to fight inflation. But all indications are it’s going to be a feckless fight.

The credibility of the dollar is taking some self-inflicted blows. And the world is watching. Could this hasten the end of the greenback as the world’s reserve currency?

The trade deficit shattered records in 2021. Things didn’t slow down any as we rolled into 2022. The January trade deficit hit another all-time record high. But nobody really seems to care. We should.

Now inflation is Russia’s fault. Or is it greedy businesses pushing up prices? Maybe a combination of the two. It seems that government officials and central bankers are looking everywhere for a place to pin the blame for inflation except the one place they need to look — in the mirror.