Peter's Blog

Peter Schiff: The Recession May Have Already Started

President Biden keeps saying the economy is great. Fed officials say the economy is expanding at a “strong pace.” Peter Schiff isn’t buying the narrative. He says we may already be in a recession and he made a strong case in his podcast.

Mounting Government Debt Marks America’s Road to Ruin

There is a $33.7 trillion elephant in the living room. I’m referring to the massive national debt. It’s pretty amazing that we have this massive animal sitting right in the middle of everything and most people are just walking around it as if it isn’t there.

Is All This Military Spending Really Good for the Economy?

Is war and military spending really good for the economy? A lot of people seem to think so. In fact, President Joe Biden is selling the latest proposal to send military aid to Israel and Ukraine as an economic stimulus plan. But this notion that spending money for war somehow boosts the economy is rooted in […]

Calm Before the Storm

The writing of this market report was at a time of great volatility, due to it coinciding with the speech of the Hezbollah leader, Hassan Nasrallah. The drift of it appears to be that Hezbollah will support Hamas. If so, it means an intensification of the Palestinian crisis Which would presumably drive gold and silver […]

Confidence Level Is Low! SchiffGold Friday Gold Wrap Nov. 3, 2023

Federal Reserve Chairman Jerome Powell said he’s not confident interest rates are high enough to slay price inflation. He also said he’s not confident they aren’t. In this episode of the Friday Gold Wrap podcast, host Mike Maharrey wonders out loud why we should have any confidence if Powell doesn’t. Along the way, he breaks […]

The Future for Fiat

The day of reckoning for unproductive credit is in sight. With G7 national finances spiraling out of control, debt traps are being sprung on all of them, with the sole exception of Germany.

AI Boom Could Boost Demand for Precious Metals

The boom in AI could mean a boom in industrial demand for precious metals in 2024. Metals Focus, an independent precious metals research consultancy, released a note recently that said it expects the increased demand for chips powering AI technology to drive “widespread support for a range of precious metals bearing components.”

Fed Keeps Its Finger on the Pause Button

Chalk one up for the status quo. As expected, the Federal Reserve held interest rates steady in a range between 5.25 and 5.5% for the second straight FOMV meeting, and chairman Jerome Powell was intentionally noncommital about future Fed moves.

“Green Economy” Expected to Boost Silver Demand and Other Silver News

Silver is expected to play a significant role as the “green economy” evolves. The Silver Institute recently participated in a panel discussion titled “Silver’s Role in the Green Economy” at the London Bullion Market Association’s Global Precious Metals Conference in Barcelona, Spain. This is one of several silver-related stories in the latest edition of Silver News published by the […]

Japan’s Slow-Motion Train Wreck

Japan is in the midst of a slow-motion train wreck. The country has a massive national debt and it is starting to feel the pressure of rising interest rates. In his podcast, Peter Schiff talked about the situation in Japan and pointed out some disturbing parallels to what’s happening in the US.