Peter's Blog

Peter Schiff: Enjoy the Calm Before the Storm

In his latest podcast, Peter Schiff said we are basically enjoying the calm before the storm right now. With the US missile strike in Syria, rumblings of a trade war and a generally weak dollar, gold briefly flirted with $1,365 last week. But the anticipation of Federal Reserve rate hikes continues to create strong headwinds […]

Turkish President Fires Another Shot in an Escalating War Against the Dollar

Turkey went on a gold-buying spree in 2017 and that trend continued in the first two months of 2018.  Turkish President Recep Tayyip Erdoğan likes gold and it’s pretty clear the president has been pushing Turkey’s central bank to buy gold and reduce foreign currency reserves in an effort to move away from dependence on […]

Brits Go on a Gold Buying Spree

If reports from two major London gold dealers serve as any indication, a lot of Brits are buying gold. According to a report in Business Insider, Sharps Pixley reported a whopping 253% year-on-year increase in physical gold sales in March. Showroom sales last month came in at over $12.7 million compared to $3.6 million during the same […]

Silver Mine Output Drops for Second Straight Year; Industrial Demand Up

Global silver mine supply dropped for the second straight year as industrial demand rose for the first time since 2013, according to the World Silver Survey 2018 produced by the GFMS team at Thompson-Reuters and released by the Silver Institute this week.

Germans Showing Off Their Gold

The Germans are showing off their gold. The country ranks second in the world only to the US in official gold holdings. This week, the Bundesbank launched a six-month exhibition on gold showcasing its reserves along with the bank’s most interesting gold bars and coins. The official exhibit is part of a renewed emphasis on the […]

The Ace Up China’s Sleeve

Last week, Pres. Trump said US markets might have to endure some short-term pain if the trade war with China escalates. But never fear, in the long run, everything will be great! We have to do things that other people wouldn’t do. So, we may take a hit, but you know what, ultimately, we’re going […]

Retail Defaults at All-Time High

There were more signs of a retail apocalypse in the first quarter of this year. Defaults by retail companies rated by Moody’s hit an all-time high in Q1. There were a total of nine defaults among Moody’s-rated retail corporates. According to Wolf Street, total corporate defaults in Q1 were up 22% from last year, and […]

Economic Growth Can’t “Pay For” Republican Tax Cuts and Spending

One of the favorite Republican talking points is that tax cuts will “pay for themselves” by spurring economic growth. This seems plausible. But GOP talking heads underestimate just how much growth would be necessary to pay for the massive tax cuts and spending increases recently passed by Congress. In fact, the Congressional Budget Office released […]

Peter Schiff: Nobody Is Prepared for the Long-Term Pain That’s Coming

The stock market continued its yo-yo ways on Friday. After three straight days of healthy gains, the Dow Jones Industrials fell 572 points to end the week, closing below 24,000. The Nasdaq also plunged, dropping 161 points. Peter Schiff has been saying for weeks this is a bear market. Well, now even Pres. Trump has said […]

Has the Subprime Auto Bubble Burst?

It looks like the subprime auto loan bubble has popped. Last year, we reported that the auto industry’s check engine light was on. Now it looks like the thing is totally breaking down. Small subprime auto lenders are starting to go belly-up due to increasing losses and defaults. As ZeroHedge noted, “we all know what comes […]