Peter's Blog

The Fed Plays the Economy Like an Accordion

We talk a lot about how central banks serve as the primary force driving the business cycle. When a recession hits, central banks like the Federal Reserve drive interest rates down and launch quantitative easing to stimulate the economy. Once the recovery takes hold, the Fed tightens its monetary policy, raising interest rates and ending QE. […]

What Would Real Tax Reform Look Like?

We’ve done extensive reporting on the GOP tax reform bill as it’s moved through Congress. We’ve highlighted a number of concerns about the plan, specifically the significant expansion of the national debt it will cause. Yesterday, we explained how the impact on the deficit will likely be even bigger than expected because of the incentives […]

Just How Dangerous Is Trump’s Latest Fed Board of Governors Pick?

Last week, Pres. Donald Trump nominated Marvin Goodfriend to fill a vacancy on the Federal Reserve Board of Governors. When we reported the news, we called him “another swamp creature” – a member of the Washington D.C./Wall Street clan Trump promised to drain away. We’re not alone in our thinking. In an article on the Mises […]

How Do We Really Cut the Burden of Government? Cut Spending!

In all of the talk about tax reform, nobody is considering the more fundamental problem facing America – the size and scope of the federal government. Peter Schiff has described the Republican tax plan as “tax cuts masquerading as reform.” When it’s all said and done, Americans aren’t going to get tax relief. They are […]

In Fed We Trust…Or Do We?

There’s been a lot of focus on the Federal Reserve lately. Earlier this month, the central bank launched efforts to shrink its balance sheet after years of quantitative easing. Most analysts also expect one more interest rate increase this year. Then there is rampant speculation about who will take the reins at the Fed when Janet […]

Can Tax Cuts Grow the Economy Without Government Spending Cuts?

Last week, we asked an important question about Trump’s tax reform plan: Can it deliver? Despite rampant optimism about tax reform, there are a number of problems. In the first place, it remains uncertain whether or not Congress can even get anything done. Second, as Peter Schiff pointed out, the plan as presented won’t likely create the […]

Questions Remain as the Fed Finally Begins to Reverse QE

Last week, Janet Yellen announced the Federal Reserve will begin the much anticipated “tapering” of its massive balance sheet. The Fed chair also hinted another interest rate hike is in the works. After the most recent FOMC meeting, we raised the question: Is this a viable path forward, or is the central bank playing a game […]

The World Is Creeping Toward De-Dollarization

Earlier this month, we reported a move by China that could foreshadow the end of the US dollar as the world reserve currency. The Chinese announced the launch of a gold-backed, yuan-denominated oil futures contract. The move potentially creates a way for oil exporters to circumvent US dollar denominated benchmarks by trading in yuan. The contracts […]

Why Central Banks Make a Mess of Inflation Targeting

Alasdair Macleod has over 40 years’ experience in fund management, corporate finance and investment strategy. He believes government monetary policies are the biggest threat to our financial savings and independence. As head of Research at Goldmoney, Alasdair helps everyday consumers understand the benefits of using gold as both money and a store of value. We […]

The Global Economy Almost Collapsed Twice in Last 18 Years – That’s Why You Buy Gold (Video)

Last week, James Rickards explained to CNBC why he is a long-term holder of gold bullion. He pointed to the pattern of financial collapses that threatened the global economy over the past two decades. In the late ‘90s, Wall Street bailed out a hedge fund. In 2008, the Federal Reserve bailed out Wall Street. But […]