Peter's Blog

We Don’t Have a Wage Problem; We Have a Money Problem

On June 7, the Washington DC Council voted to raise the city’s minimum wage to $15 per hour. DC joins New York and California, along with a number of major US cities that have made the move to boost the minimum wage over the last year. The DC Council’s vote was a major symbolic victory […]

News Flash: Gold Demand Surging in Great Britain in Advance of Brexit Vote

The British have gotten gold fever. According to a Reuters report, uncertainty surrounding the upcoming Brexit vote is driving quite a gold boom: At Sharps Pixley, a gold showroom in London’s smart Mayfair district, demand for bullion bars and coins is rising, with men and women of all ages buying up the safe-haven metal in […]

Former Bank of England Head Offers Some Good Reasons to Buy Gold

In an interview with the World Gold Council for the latest edition of Gold Investor, former Bank of England head Lord Mervyn King made the case that it’s sensible for central banks to buy and hold gold. Interestingly, the reasons he offered are good reasons for individual investors to buy gold as well. King addressed […]

A Major Red Flag in the Jobs Market Few People Are Talking About

The shockingly bad May jobs report dumped a bucket of cold water on central bankers and mainstream pundits. A June interest rate hike that was a foregone conclusion just a week ago disappeared like a teenager when it’s time to do the dishes. Suddenly, a lot of people are starting to realize the great Obama […]

Presidential Election a Sign Economy Is in a Mess

Economists say election uncertainty is subduing economic growth. But it seems more likely the horrible economy is driving this strange election cycle. For months, Peter Schiff has been saying if the US isn’t already in recession, it will be in one soon. Former Reagan Office of Management and Budget Director David Stockman recently told Neil […]

Federal Reserve Plays Jenga with US Banking System

If you’ve ever played Jenga, you know each player takes turns pulling blocks out of the core of a tower and then placing them on top. The tower gets less and less stable as the game goes on, until eventually it comes crashing down. This is kind of like what the Federal Reserve does with […]

Feeling the Burn of Socialism in Venezuela: $150 for One-Dozen Eggs

Not long ago, a video surfaced featuring Democratic Party candidate Bernie Sanders claiming bread lines were a sign of good times. You know, it’s funny. Sometimes American journalists talk about how bad a country is when people are lining up for food. That’s a good thing. In other countries, people don’t line up for food. […]

News Flash: Gold and Silver Bullion Coins Selling at a Frenzied Pace

Demand for physical gold and silver continues to surge with bullion coins flying out of the US Mint at a frenzied pace. May gold coin sales increased more than 206% over the same month last year. The mint sold 76,500 ounces of American Gold Eagles in May and 18,500 ounces of Gold Buffalos. That compares […]

Illinois Budget Debacle Proves Politicians Can’t Fix the Problems They Create

The US faces a massive debt problem. We all know it. But politicians and government officials are either unwilling or incapable of doing anything about it. David Stockman mentioned the burden of debt in a recent interview with Neil Cavuto on Fox Business: We have $63 trillion of total debt in this economy. The public […]

Will You Ever Retire? Many Americans Won’t

Will you ever retire? More and more Americans will not. According to the latest data from the US Bureau of Labor Statistics, almost 20% of Americans 65 and older are still working. That’s the largest percentage of older Americans on the job since the early 1960s. With Baby Boomers hitting retirement age, it’s the largest […]