Peter's Blog

Gold Holdings in Gold-Backed ETFs Hit All-Time High in January

ETF gold holding reached another record high in January, according to the latest data from the World Gold Council. Gold-backed funds added 61.7 tons of gold last month, boosting holdings to an all-time high of 2,947 tons. This continues a trend we saw in 2019 when gold holdings in ETFs grew 19% and eclipsed all-time […]

Macy’s Puts a Face on Retailers’ Pain

Macy’s department store has announced plans to close 125 stores and cut around 2,000 corporate employees. Along with the store closures, the company will shutter its Cincinnati headquarters and tech offices in San Francisco. Even with the cuts, sales projections for the next three years “look abysmal.” According to CNBC,  same-store sales, on an owned […]

Whether You Call It QE or Not the Fed Is Monetizing the US Debt

Last October, the Federal Reserve relaunched quantitative easing. Of course, Fed Chairman Jerome Powell insists it’s not quantitative easing. But as Peter Schiff pointed out in a recent tweet, that debate is really just semantics. The argument over whether the current Fed balance sheet expansion constitutes QE is pointless. QE was always just a euphemism […]

The Silver-Gold Ratio Is Still Way Out of Whack

The silver-gold ratio has ticked back up to historically high levels of late. As I write this article, the ratio stands at just over 88:1. That means it takes 88 ounces of silver to buy an ounce of gold. To put that into perspective, the average in the modern era has been between 40:1 and […]

The Rent’s Too High!

More and more Americans are struggling to pay their rent. According to a report from the Joint Center for Housing Studies of Harvard University, one in four renters are paying more than half their income on housing. This equates to 10.9 million renters.

Corporate Debt: A Slow-Motion Train Wreck

Corporate debt has blown through the roof over the last several years. So much so that the Federal Reserve has issued warnings about the increasing levels of corporate indebtedness. Borrowing by businesses is historically high relative to gross domestic product (GDP), with the most rapid increases in debt concentrated among the riskiest firms amid weak […]

Central Banks Are Pumping Up Stocks; How Long Can It Last?

Those peddling the narrative that the US economy is great keep pointing to the stock market. Indeed, stocks have continued to push higher, setting records along the way. But Peter Schiff has been saying that stocks aren’t being driven higher by a great economy. In a recent interview on RT Boom Bust, Peter said that […]

Gold Mine Output Falls for First Time Since 2008

After flat-lining over the last several years, gold mine output fell by 1% in 2019. This is further evidence that we could be heading into a long-term and perhaps irreversible decline in gold mine production. According to the World Gold Council, total gold mine output in 2019 came in at 3,463.7 tons.

Fed Holds Interest Rates Steady; QE Marches On

The Federal Reserve held its first Federal Open Market Committee meeting this week. As expected, the central bank held interest rates steady but the overall posture of the Fed came off as rather dovish. Quantitative easing will continue into the near future and Fed Chairman Jerome Powell left the door open for future rate cuts. […]

CBO: Massive Budget Deficits Pose “Significant Risk” to Economy

The CBO projects the federal government will run massive budget deficits into the foreseeable future and says the ballooning national debt poses “significant risk” to the economy and financial system. According to the CBO, the federal budget shortfall will hit $1.02 trillion in FY 2020 and rise into the foreseeable future. Deficits will average $1.3 […]