Peter's Blog

Somebody Has to Pay for Student Loan Forgiveness

President Biden is expected to announce student loan forgiveness on Wednesday (Aug. 24). The plan will reportedly cancel $10,000 in student loan debt for anybody making less than $125,000 per year. A lot of people think this is like waving a magic wand — poof — the debt is gone. But somebody has to pay […]

Private Sector Business Activity at Lowest Level Since COVID Lockdowns

In yet another sign the economy is tanking, private-sector business activity contracted for the second straight month in August. The S&P Global flash composite purchasing managers index (PMI) dropped to 45 this month from a reading of 47.3 in July. A print below 50 indicates a contraction in economic activity.

Tanking Housing Market Already Putting Mortgage Companies Out of Business

The tanking housing market is starting to put a strain on the mortgage industry with some lenders already going out of business. Analysts project the wave of failures coming down the pike could be the worst since the housing bubble burst and triggered the Great Recession.

The Numbers Don’t Lie; The Fed Won’t Win This Inflation Fight

The central bankers at the Federal Reserve continue to talk tough about fighting inflation. But is it a fight they can win? The numbers say no.

Ron Paul: Super-Sized IRS Will Shrink Liberty

The so-called “Inflation Reduction Act” is another Washington DC lie. It won’t do anything to reduce inflation. In fact, it will do the exact opposite. Instead, they should have named it the “Liberty Reduction Act,” because that’s what 87,000 new IRS agents funded by this spending bill will do. Yes, the tax man cometh. And […]

Peter Schiff: Markets Still Operating on False Confidence in the Fed

The four-week win streak in stocks came to an end last week with all of the major indexes down significantly on Friday. As Peter explained in his podcast, it appears the markets are coming to terms with the fact the Powell Pivot may not come as quickly as anticipated. That means interest rates may go […]

Gold and Silver Price Analysis: Caution Warranted in the Short-Term

The price analysis last month concluded that the market might have seen capitulation. It suggested the FOMC and GDP could spark a short squeeze based on the overly bearish COTs report. While gold rebounded strongly, it ran into stiff resistance and more hawkish talk by the Fed. With a large pullback from recent highs, is gold about to […]

Brain Dump: SchiffGold Friday Gold Wrap Aug. 19, 2022

It was a relatively slow news week in the financial realm. For once, the Fed didn’t do anything particularly noteworthy. So, Friday Gold Wrap Host Mike Maharrey took advantage of the lull. Along with covering some economic data and media spin, he hit on a couple of subjects he hasn’t been able to get to […]

Which Countries Own the Most Gold?

On net, central banks globally have been adding gold to their reserves. Through the first half of 2022, central banks expanded gold holdings by 270 tons. National Bank of Poland Governor Adam Glapiński summed up the reason central banks hold gold.

The Mainstream Punditry Never Finds Bad News in Retail Sales Numbers

The mainstream has suddenly discovered price movements impact retail sales. For months, retail sales generally came in higher than expected. And for months the mainstream financial punditry ignored inflation and told us this signaled a strong economy. But in July, retail sales unexpectedly fell flat. Now the mainstream financial punditry claims this signals a strong […]