Peter's Blog

Watch the Student Debt Time Bomb Tick

Peter Schiff has been saying that it’s only a matter of time before the student loan bubble pops. Now you can watch the clock tick thanks to the new National Student Loan Debt Clock developed for MarketWatch by StartClass, an education data site. According to MarketWatch calculations, student loan debt increases in America by an […]

China Takes Another Step Toward Independence from US Dollar

China announced it will start direct trading with the Swiss franc. This is another step in China’s relentless march toward becoming a major player on the world financial stage and away from dependence on the US dollar. According to a Bloomberg report, the link between the currencies will begin Tuesday. The move by the China […]

ECB Considers Pushing Negative Rates Lower; Yellen Might Follow Lead

While Janet Yellen keeps hinting at a “possible” US interest rate hike – something Peter Schiff has argued for months is highly unlikely – it appears the European Central Bank (ECB) will soon take rates deeper into negative territory. Americans should take note of what is happening across the pond, because it may eventually happen […]

US Debt Rockets Up $339 Billion in a Single Day

On Monday, the United States national debt increased $339 billion. In one day. Just like that. What caused the sudden spike? That same day, President Obama signed a bill into law suspending the debt ceiling until March 15, 2017. That allows the government to once again borrow, free from the constraints of an $18.1 trillion […]

Major US Company Preps for Financial Crisis – Are You Ready?

One of America’s largest online retailers has prepared for a financial crisis. Have you? During a recent speech (see video below) at the United Precious Metals Association, Overstock.com Chairman Jonathan Johnson said the company has stockpiled $10 million in gold and silver outside of the banking system. He said most of the gold is in […]

Sale of Silver Eagles on Pace to Break Record in 2015

Sales of American Silver Eagle bullion coins shot through the roof over the past several months and will likely break a record in 2015. According to a Newsmax Finance report, 2015 sales year-to-date are ahead of last year’s pace. Through the third week in October, sales stood at 38,986,000 ounces. That compares to last year’s […]

Swedes Stashing Money in Microwaves as War on Cash Heats Up

Swedes are reportedly hiding money in microwave ovens in a desperate attempt shield it from the negative effects their central bank’s “war on cash.” As Business Insider puts it, the Nordic country is “shaping up to be the first country to plunge its citizens into a fascinating — and terrifying — economic experiment: negative interest […]

ETFs No Substitute for Physical Gold in a Crisis

Gold-backed exchange-traded funds (ETFs) generally follow the price of gold. As a result, they have been underperforming relative to the general stock market this year. For instance, SPDR Gold Trust (GLD) lost about 28.3% of its value in 2013, fell another 2.2% in 2014 and yet another 3.8% so far this year. It was recently […]

Demand for Gold Surges in Third Quarter; Chinese On Pace for Record

Investors and central banks around the world are buying gold. Overall worldwide demand for the yellow metal surged during the third quarter. According to a Reuters report, demand for gold coins and gold bars, along with buying by central banks, drove a 7% Q3 increase. Demand for gold coins and bars jumped by 26% year-on-year […]

Chinese Yuan on Track to Become IMF Basket Currency

It appears likely the yuan will join the International Monetary Fund benchmark currency basket this year, according to sources close to the process. Reuters reports IMF staff plan to give the all-clear for yuan inclusion, laying the groundwork for a favorable decision by policymakers. Three people briefed on IMF discussions said a draft report from […]