Peter's Blog

Mainstream Getting Bullish on Gold with Rate-Cut Talk

In his Gold Videocast earlier this week, Peter Schiff said the Federal Reserve will likely use turmoil in the markets following the Brexit vote as an excuse not only to renege on its much anticipated rate-hike, but to cut rates and launch QE4. In fact, Peter was saying the Fed would end up cutting rates […]

Most Americans Believe the Economy Is Rigged; They’re Right

Do you believe the economy is “rigged?” If you do, you’re not alone. A new poll by Marketplace and Edison Research found that a staggering 71% of Americans believe the economy is rigged. The poll based its findings on answers to this question: which of the following comes closer to your opinion on the economic […]

Congress Passes Rescue Bill But Puerto Rico Will Still Default

Even with Congress giving final approval to a bill that will allow Puerto Rico to restructure its debt, the US territory will default on a $13 billion general-obligation debt on July 1. A $1.9 billion payment in principle and interest is due Friday. Puerto Rico will renege on the payment to bondholders despite a constitutional […]

Another Ominous Economic Sign: Americans Cutting Back on Eating Out

Mainstream media pundits and government officials continue to talk about a growing US economy, but signs in America’s heartland point in the opposite direction. Peter Schiff has made the case that the stagnating economy is driving this strange election cycle, and helps explain the rise to prominence of Donald Trump and Bernie Sanders. But the […]

Investors Starting to Consider Possibility of Fed Rate Cut

My how things change. This time last month, it was a foregone conclusion that the Federal Reserve was going to raise rates in June. Then the government released a shockingly bad jobs report and suddenly that rate hike was taken off the table. Even so, many pundits believed July would finally bring the much anticipated […]

World Gold Council Report: Brexit Will Be Good for Gold

In a report released in the wake of the Brexit vote, the World Gold Council predicted “strong and sustained inflows into the gold market.” In the immediate aftermath of the referendum, gold surged, reaching as high as $1,358.54 per ounce before falling back later in the day Friday. It was the highest level for gold […]

Analysts Say $1,900 Gold Could Be a Reality in Wake of Brexit

The price of gold soared in the wake of the Brexit vote, going as high as $1,350 on Friday before settling back slightly. As of the Monday morning after the vote, the yellow metal was up more than 5% from its close Thursday before returns started coming in. The spike in gold after the shock […]

Obamacare Chickens Starting to Come Home to Roost

It appears some of the Obamacare chickens are starting to come home to roost. Opponents of the massive intervention in the health care and insurance markets warned that it would increase prices and negatively impact employment. Supporters of the government health care program poo-pooed those predictions. But as some of the real-world implications of Obamacare […]

Brexit! What’s Next?

The British vote to leave the EU Thursday sent shockwaves through the financial markets and pushed gold to a 2-year high. In the historic Brexit referendum, the British voted to leave the European Union by a 51.9 to 48.1 margin. Unofficially, 17,410,742 Brits cast exit votes, with 16,141,241 casting ballots to remain in the EU. […]

Truth About the Economy Leaks Out Through Cracks in the Mainstream Narrative

Last week, Jim Grant argued that the US manufacturing economy is flirting with recession, if it isn’t there already.  He said the horse of speculation is ahead of the cart of enterprise. In other words, even though asset prices such as the stock market and real estate are rising, creating the illusion of economic prosperity, […]