Peter's Blog

A Ticking Time Bomb: Rising Consumer Debt and Rising Interest Rates

Rising consumer debts colliding with rising interest rates is a ticking time bomb. Over the last several months, consumer debt has climbed at a steep, steady pace as Americans struggle with rising prices. November was no different, with consumers piling on another $27.9 billion in debt.

Gold Charts Small Gain in 2022 Despite Significant Headwinds

Despite market headwinds, gold managed to post a small gain in 2022 thanks to a strong rally in December. Gold gained 3% in the final month of the year, driving the price of the yellow metal to $1,814 an ounce to close out 2022. This represented a 0.4% gain on the year.

You Wanted Stimulus; You Got Stagflation

During the pandemic, we got trillions of dollars in stimulus. The Federal Reserve alone pumped nearly $5 trillion into the economy. People gobbled up those stimulus checks, but there is no such thing as a free lunch. Now we’re paying for those stimmy checks with rampant inflation that is morphing into stagflation. As Peter Schiff has […]

Central Banks Add More Gold in November as China Joins Buying Spree

Central banks globally added another net 50 tons of gold to their reserves in November, driven in part by the first official purchase by China since 2019.

US Debt Hits the Ceiling – Interest Payments Keep Growing

The US government has once again run up against the debt ceiling. Meanwhile, interest payments on the debt keep growing. The Treasury only added $6B of debt in December, allowing short-term debt to mature and replacing it with longer-term debt. This makes sense as long-term rates are below short-term rates with the inverted yield curve.

The Real Jobs Report Way Worse Than Headlines Suggests

The headlines keep telling us the US has a robust job market, but a deeper dive into the data tells a much different story.

Ask Mike Anything: SchiffGold Friday Gold Wrap Jan. 6, 2023

You have questions. Friday Gold Wrap host Mike Maharrey has answers. In this episode of the podcast, Mike answers questions submitted by listeners. He covers topics ranging from the American Silver Eagle shortage to the best states for sound money.

Trade Deficit Falls Due to Weak Consumer

The November Trade Deficit saw the first contraction in four months and actually fell to the lowest level since October 2020. This was primarily driven by a collapse in Imported Goods as shown below.

Missouri Bill Would Take Steps Toward Treating Gold and Silver as Money

A bill introduced in the Missouri Senate for the 2023 legislative session would take important steps toward treating gold and silver as money instead of as commodities and would set the stage for currency competition in the Show-Me State.

Rising Interest Rates on a Collision Course With a Wall of Debt

Jerome Powell still insists the Federal Reserve can beat inflation while bringing the economy to a “soft landing.” But there are underlying issues in the economy that make it extraordinarily doubtful that the economy can avoid a major downturn – despite Powell’s claims to the contrary. One of the biggest problems facing the Fed is […]