Peter's Blog

Some Things Never Change: US Government Runs Another Big Deficit in August

Some things never change — such as the federal government spending more money than it has month after month after month. August was no different. The US government ran a massive $219.6 billion budget deficit last month, according to the latest Monthly Treasury Statement. That nudged out July as the second-largest monthly deficit in fiscal […]

Peter Schiff: The Fed Won’t Bend This Inflation Curve

The CPI data for August came in hotter than expected, sparking the biggest market crash since the 2020 COVID lockdowns. The price of gold also dropped on the news in anticipation of the Federal Reserve taking interest rates higher. Peter Schiff talked about the inflation news on his podcast and said investors need to get […]

August CPI Shows Inflation Getting Stickier

The latest seasonally adjusted inflation rate for August came in nearly flat again at 0.09% MoM, dropping to 8.3% YoY. Expectations had been for -0.1% MoM and 8.1% YoY so the market had a very negative reaction to the report.

The CPI Is Not Cooling and That’s a Big Problem for the Fed

The August Consumer Price Index surprised to the upside, ramping up expectations for another aggressive Federal Reserve rate hike. It also reveals a big problem for the Fed that most people haven’t come to grips with yet.

Peter Schiff: The Fed Is Spitting into the Wind

The CPI for August came in hotter than expected, ratcheting up anticipation of another big Federal Reserve interest rate hike at the September FOMC meeting. Peter Schiff appeared on the Claman Countdown on Fox News and explained why these rate hikes are too little too late. In fact, the Fed is basically spitting into the […]

Ron Paul: The Fed Wants You Fired!

The Fed continues to talk tough about fighting inflation. During his Jackson Hole speech, Fed chair Jerome Powell said the central bank will “use our tools forcefully” to attack inflation. Powell even promised some pain. What exactly does Powell mean by “pain?” Ron Paul pointed out that Powell wants to “soften the labor market.” In other […]

Peter Schiff: ECB Inflation Fight Bad News for the Fed

The European Central Bank (ECB) raised interest rates another 75 basis points last week. In his podcast, Peter Schiff explained how the ECB inflation fight could create big problems for the Federal Reserve and the US dollar.

Queen Elizabeth’s Death Puts Squeeze on Already Tight Bullion Coin Market

The recent death of Queen Elizabeth II is squeezing gold and silver bullion coin markets that were already strained by tight supplies. There was an immediate and dramatic surge in demand for gold and silver bullion coins bearing the queen’s effigy upon her passing. According to News.com.au in Australia, “Collectors are scrambling to get their […]

Americans Continue to Pile on More and More Debt

American consumers continue to cope with rising prices and prop up the sagging economy using their credit cards. Total consumer debt rose another $23.8 billion in July to a record $4.644 trillion, according to the latest data from the Federal Reserve.

The Calm Before the Storm: SchiffGold Friday Gold Wrap Sept. 9, 2022

This week was the calm before the storm that will begin next week with the August CPI data and continue with the September FOMC meeting the following week. Friday Gold Wrap host Mike Maharrey takes advantage of the lull to cover some interesting topics including some more tough talk on inflation from Jerome Powell, the […]