Peter's Blog

Peter Schiff: Could Soaring Twin Deficits Bring on an October Surprise?

As we head into the month of October, it’s interesting to note that two of the worst stock market crashes in history during this month. Of course, we had the 1929 Wall Street crash that kicked off the Great Depression, and there was also the Black Monday stock market crash in 1987. As Peter Schiff noted in […]

Most US States Drowning in Red Ink

The federal government isn’t alone drowning in debt. Most US states don’t have enough money to pay their bills either. That was the conclusion of the Truth in Accounting annual State of the States 2018 report. According to the report, American states have racked up $1.5 trillion dollars in unfunded state debt. Much of the red ink is […]

Which Fed Rate Hike Will Finally Break the Economy’s Back?

As expected, the Federal Reserve nudged interest rates up another 25 basis points Wednesday. The federal funds rate now stands at 2.25%. The Fed offered up a rosy outlook for the US economy, projecting growth will continue for the next three years. The central bank also dropped the phrase, “the stance of monetary policy remains accommodative” […]

As Economy Tanks, Indonesians Turn to Gold

The Indonesian stock market has plunged nearly 7% this year. The country’s currency, the rupiah, has fallen 9%, and is at its weakest level since the 1998 Asian financial crisis. Bond yield have soared. To weather the storm, Indonesians are buying gold. 

Peter Schiff: Divided Government Would Not Be Bullish for the Stock Market

In a recent podcast, Peter Schiff talked about the “Trump tariff put” – this idea that the president will be able to call off the trade war to rescue the market should it start to fall. Peter called that idea nonsense. It is the type of wishful thinking, the type of just ignoring all of […]

High Consumer Confidence Shouldn’t Make Us Confident

Apparently, the American consumer has bought into the notion that everything is great in the economy. Consumer confidence surged to an 18-year high this month and is close to the all-time record. The Conference Board Consumer Confidence Index jumped to 138.4, up from 134.7. Analysts expected a dip.

EU Announces New Payment System to Circumvent US Economic Sanctions

The EU has announced it will create a special payment channel to circumvent US economic sanctions and facilitate trade with Iran. Last month, German foreign minister Heiko Maas called for the creation of a new payments system independent of the United States. The announcement Monday sets that plan in motion.  

Peter Schiff: The “Trump Tariff Put” on the Stock Market Is Worthless

The Dow Jones pushed into record-high territory again late last week. As Peter Schiff pointed out in his latest podcast, Pres. Trump was out there pointing out the record run on Wall Street and claiming responsibility for this bull market. Just turn on Fox News and hardly a segment will go by that somebody isn’t […]

Some Mainstream Bullishness for Gold

Some people out there in the mainstream are saying now is the time to buy gold. In recent months, the mainstream investment world has by and large either ignored the yellow metal or outright spurned it. After all, stocks are soaring. The economy is doing “great.” There’s nothing to worry about — at least that’s […]

Bill Introduced in Congress to Eliminate Capital Gain Taxes on the Sale of Gold and Silver Bullion

A bill introduced in the US House would eliminate capital gains taxes on gold and silver bullion. Rep. Alex Mooney (R-W.Va.) introduced HR6790 on Sept. 12. Titled the Monetary Metals Tax Neutrality Act of 2018, the legislation would amend the IRS code to exempt the sale of “refined gold or silver bullion, coins, bars, rounds, or […]