Peter's Blog

Peter Schiff: Fed Capitulation Is Just the First Piece of the Puzzle

Stocks got a boost on Friday and gold rose 1.8% on further signs that the Federal Reserve is capitulating. An article in the Wall Street Journal basically confirmed the Fed is now thinking about winding down its quantitative tightening program. As a CNBC headline put it, “The Fed may be moving closer to ending its […]

China Officially Adds to Gold Reserves as It Shifts Away from the US Dollar

China officially added gold to its reserves last month for the first time in two years. Meanwhile, the Chinese have been shrinking their holdings of US Treasuries. According to the Nikkei Asian Review, the moves are intended to reduce dependence on the US dollar. According to data released by the People’s Bank of China, the […]

Existing Home Sales Plunge; Biggest Year-on-Year Drop Since 2011

Here’s another sign that the air is coming out of housing bubble 2.0. Existing home sales fell 10.3% year-on-year in December. Sales, including single-family houses, townhouses, condos, and co-ops, dropped to a seasonally adjusted annual rate of 4.99 million homes, according to the National Association of Realtors. This ranks as the biggest year-over-year drop since May […]

South African Gold Production Drops for 14th Straight Month

Gold output in South Africa fell for the 14th straight month in November. According to Bloomberg, it ranks as the longest streak of monthly declines since 2012. Production fell 14% from a year earlier, Pretoria-based Statistics South Africa said in a statement on its website last week. South Africa once led the world in gold […]

He Said What? Gold Is a Useless Metal?

A couple of days ago, CNBC commentator Jim Leventhal made a pretty astounding comment. When asked about gold, Leventhal said he had no interest in it because gold has no uses as a metal. No uses? What?

Billionaire Buys Gold for the First Time

Billionaire Sam Zell said he recently took the plunge and bought gold. “For the first time in my life, I bought gold because it is a good hedge,” Zell said during an interview on Bloomberg TV.

Peter Schiff: The Eye of the Financial Hurricane

Stock markets appear to have stabilized after a “December to remember.” But in his most recent podcast, Peter Schiff said we’re really just in the eye of a financial hurricane. The selloff began after the September Fed rate hike. At the time, Peter called it the hike that broke the camel’s back. The market plunged in […]

Troubling Signs for Uncle Sam as Demand for US Treasuries Sags

Last February, we asked the question: who will buy all of this US debt? With the demand for US Treasuries dropping precipitously as the US Treasury floods the market with paper, it’s time to revisit that question.

Brits Deal With Brexit Uncertainty By Hoarding Gold

As uncertainty swirls around Brexit and exactly what that will mean for the economy, Brits have been hoarding gold. According to a statement by The Royal Mint, the demand for gold bars and gold coins spiked in December as uncertainty about the UK’s exit from the EU grew. We have seen a significant increase in demand […]

Exploding US Debt “The Most Viable Threat” to the Economy

Tocqueville Management Corp. chairman John Hathaway says the growing US government debt to GDP ratio poses “the most viable threat” to the US economy. In his fourth-quarter investment letter, Hathaway said the ballooning US debt, coupled with a bear market and a recession, will likely weaken the dollar and send gold much higher in the near future.