Peter's Blog

Basic Economics: $5 Coke Cans and Minimum Wage Laws

One of the biggest enduring economic myths is the notion that the minimum wage laws only help workers and have no real negative effects. The fallacy inherent in this line of thinking becomes immediately clear if we simply propose a $1,000 per hour minimum wage. After all, if $15 is good, $1,000 would be fantastic, […]

Beware of the Bear

The bulls are running down Wall Street, but are bears lurking just around the corner? The mainstream doesn’t think so, but Peter Schiff does. The Dow Jones climbed nearly 400 points Thursday after the Chinese announced a willingness to resume trade talks with the United States. No agenda was set, but the mere prospect of […]

Peter Schiff: Out of the Frying Pan and into the Fire

Turkey has been in the headlines over the last few weeks as a currency crisis has rocked that country. But as Peter Schiff pointed out in his most recent podcast, all of the things commentators are frying Turkey over are happening in the US as well. All of the criticism that is being leveled against […]

Gold in Tech: Thermal Camouflage

We continue to see amazing new technical applications for gold. Now scientists have used the yellow metal to develop thermal camouflage that can make a person invisible to night vision cameras. 

What’s Going on in Turkey?

You’ve probably heard about economic troubles in Turkey. But what’s really going on and what caused it? In simplest terms, Turkey is in the midst of a currency crisis. The value of the lira has dropped to record lows. Year-to-date, the Turkish currency has fallen 45% against the US dollar. The official inflation rate is […]

Debt as Far as the Eye Can See

While mainstream pundits and talking heads cluck about great jobs number and amazing economic growth, by and large, they completely ignore the fact that the entire economy is built on giant piles of debt. In our Friday Gold Wrap podcast last week, Mike Maharrey talked about the fact that the economy is drowning in debt, focusing […]

Focus on Fundamentals: Indian Gold Demand Surges in July

Gold imports into India jumped for the first time in seven months in July as jewelers replenished stocks. Indian gold purchases surged 44.2% year-on-year to 75 tons. India ranks as the number two consumer of gold in the world. According to a Reuters report, increased demand, “could support global prices,” which are struggling to hold ground in […]

Even the Mainstream Sees a Buying Opportunity in Gold

Gold has had a tough few months. A dollar rally and rising interest rates have weighed on the yellow metal, driving the price down nearly 8% over the last three months. But as Mike Maharrey pointed out on last week’s Friday Gold Wrap podcast, gold is on sale right now and that means a buying […]

Peter Schiff: GDP Number Is an Aberration

The second quarter GDP number released Friday came in at 4.1%. It represents the fastest rate of growth since 2014. President Trump called the number “amazing,” bragging that, “We’ve accomplished an economic turnaround of historic proportions.” Peter Schiff wasn’t quite as impressed. In his latest podcast, he said this “peak GDP” is an aberration and it’s setting […]

IMF Disses Dollar

The International Monetary Fund dissed the dollar in its annual External Sector Report, saying the greenback is overvalued. According to a Reuters report, the IMF report also said that “nearly half of global current account balances are now excessive, adding to growth risks and trade tensions.”