Peter's Blog

Venezuela Ups Minimum Wage; Effective Rate a Whopping $13.50 Per Month

So much for that socialist paradise. Last summer we reported that hyperinflation had devalued the Venezuelan bolivar to the point that people were using 2-bolivar notes as napkins. In order to keep up with the rate of devaluation, the Venezuelan government literally flew in 747s full of cash. Now we’ve learned that the Venezuelan government […]

Five Signs of China’s Growing Influence in the World Gold Market

As we’ve been reporting for months, China is quietly becoming a dominant player in the world gold market, as the yellow metal shifts from the West to the East. Now the mainstream media is starting to take notice. Not only is China the top consumer of gold in the world, ahead of fellow Asian nation […]

How the Minimum Wage Helped Spiral Puerto Rico into Economic Chaos

As the push for a $15 per hour minimum wage continues in earnest across America, policymakers had better consider the warning signs flashing from beleaguered Puerto Rico. Minimum wage policy was a major factor leading to the current crisis there. The Government Development Bank in the US territory is operating under a state of emergency […]

Hi Ho Silver! White Metal On Bull Run

As Peter Schiff put it in his recent podcast, “Hi ho silver seems to be the rallying cry for the day.” (Scroll down to watch the full podcast.) Last month, we reported silver could be poised to come out of the shadows. It certainly has – in a big way. Silver cracked $17 per ounce […]

Chinese Launch Gold Price Benchmark Further Increasing Influence on World Stage

In another sign that it is becoming a major player in the world gold market, China launched twice-daily price fixing on Tuesday. According to a Bloomberg report, the move is an attempt to establish a regional benchmark that will bolster its influence in the global gold market: The Shanghai Gold Exchange set the price at […]

Americans Not Buying What the Fed Is Selling (Video)

Here’s some free advice for the Federal Reserve. It’s OK. You can tell them. They already know. The economy is not good. As Peter Schiff pointed out on CNBC yesterday, the Fed doesn’t really want to raise interest rates. We just witnessed what even a small nudge upward did to the stock markets after years […]

SchiffGold Introduces Institutional and High Net-Worth Desk

Recognizing that large investments require tailored, individualized service, SchiffGold has developed a special desk for its institutional and high net-worth investors. The SchiffGold Institutional and High Net-Worth Desk provides discreet, personalized, one-on-one service for clients investing $250,000 or more. It also offers the type of heavily discounted pricing that high net worth and institutional investors […]

Negative Interest Rates Positively Driving Gold Demand

More than half the world’s sovereign debt now carries negative interest rates, and data keeps coming in confirming that it is driving demand for gold. A couple of weeks ago, CNBC reported central bank action appears to be rejuvenating gold in Europe, as the entrenchment of negative interest rates makes depositing cash in banks less […]

World Gold Council First Quarter Report a Bunch of Bull

The World Gold Council’s first quarter report is a bunch of bull. Or perhaps it would be more accurate to say it projects a very bullish outlook for gold. The report confirms what we already knew – gold got off to a glittering start in 2016 – and it predicts the rally will likely continue […]

Cash Limits Are All About Control Over You, But You Can Take Back the Power

JP Morgan Chase Bank just fired another salvo in the “war on cash.” The bank recently capped ATM withdrawals for non-Chase customers at $1,000 per day. The move came after the bank began installing new ATMs that dispense $100 bills. Some people were reportedly pulling tens of thousands of dollars out at one time, according […]