Peter's Blog

Inflation Alert: Producer Prices Rise More Than Expected

Producer price data for September was bad news for people looking for relief from rising prices. The Producer Price Index (PPI) rose by 0.4%, doubling the 0.2% projected increase, according to data released by the Bureau of Labor Statistics (BLS).

Bill Introduced in Congress to Put the US Back on a Gold Standard

A bill introduced in the US House would put the American financial system back on a gold standard. Rep. Alex Mooney (R-WV) introduced HR9157. Titled the Gold Standard Restoration Act, the legislation would peg the dollar to a fixed weight of gold.

Rich Dad Poor Dad Author Says Buy Silver While You Can

In a series of tweets, Rich Dad Poor Dad author Robert Kiyosaki said now is a great time to buy silver. Kiyosaki predicted that the dollar will ultimately crash when the Fed pivots and surrenders to inflation.

Americans Continue to Pay for Inflation With Credit Cards

Credit card debt continues to spiral higher as consumers struggle with rising prices and depleted savings. In August, revolving credit increased by a staggering 18.1% as total consumer debt surged to a record $4.68 trillion, according to the latest consumer credit data from the Federal Reserve.

Peter Schiff: The Fed Didn’t Create the Inflation Problem Last Year; It Was Decades in the Making

It’s easy to look back over the post-pandemic era and say the Federal Reserve stayed too loose for too long in the face of rising CPI. For months, the central bank ignored the inflation problem, claiming it was transitory. But as Peter Schiff pointed out in a podcast, the loose money problem isn’t anything new. […]

Peter Schiff: You’ll Need Gold When the Fed Loses This Inflation Fight

Some people in the mainstream have been talking about gold’s demise as an important financial asset. Meanwhile, central banks continue to buy gold. What are the gold naysayers missing? Peter Schiff appeared on Fox Business with Charles Payne to talk about the price of gold and why some investors are starting to realize they’ll need […]

Jobs Report: 7 of 8 Categories are Below Trend While Revisions are Negative Again

According to the BLS, the economy added 263,000 jobs in September, which was slightly below the Dow Jones estimate of 275,000.  More significantly, the trends reveal a slowing labor market. Education and Health led the way with strong hiring along with Leisure and Hospitality.

Treasury Locks in Higher Rates for Longer Despite Exploding Interest Costs

Over the last 18 months, the Treasury has aggressively converted short-term debt to longer-term debt. This can be seen in the chart below with the turquoise bars being negative.

Something’s Gonna Break! SchiffGold Friday Gold Wrap Oct. 7, 2022

Last week, the Bank of England threw in the towel on its inflation fight and launched a quantitative easing program. Why? Because something broke in the UK financial system. That led to a rally in stocks and precious metals this week as many in the US realized the Fed might be closer to a pivot […]

Trade Deficit: Are Falling Imports Further Sign of Recession?

The August Trade Deficit fell for a fifth straight month to -$67.4B. The Deficit is now down an 37% from the high struck back in March. As shown by the chart below, this is mainly driven by a fall in Imports as Exports have stayed relatively flat.