Peter's Blog

“Transitory” Inflation Comes in Hotter Than Expect. Again.

For the sixth month in a row, Consumer Price Index (CPI) data came in much higher than expected. But the question remains: how long will the Fed keep up the “transitory” inflation narrative? And when they do abandon this storyline and acknowledge inflation, what can the central bankers really do about it? The CPI surged […]

Gold and Silver Pricing Update: Mid July 2021

Many variables can drive the price of gold and silver. These include Fed meetings/speeches, inflation data, jobs numbers, risk appetite, etc. Some people speculate that the price is suppressed and manipulated by the banks and Fed. While coordinated suppression is not impossible, there are other more probable explanations for gold and silver price action. This […]

Many Indians Depend on Gold to Stay Afloat During Pandemic

Gold has served as a lifeline for Indians pummeled by the economic storm caused by the government response to the coronavirus pandemic. The Indian government’s response to the first wave of COVID-19 ravaged the economy. As a result, many banks were reluctant to extend credit due to fear of defaults. In this tight lending environment, […]

Transitory Inflation Turning Into an Inflationary Spiral

Consumer prices have been rising precipitously this year. If you annualize the Consumer Price Index through the first five months of 2021, you get a CPI increase of over 6%. Federal Reserve Chairman Jerome Powell continues to push the narrative that inflation is transitory, but not everybody buys into this storyline. On the Wolf Street […]

Stimulus Checks Run Out; Americans Whip Out Their Credit Cards

What do you do when that stimulus money runs out? You whip out the credit card. Consumer debt was up 10% in May, according to the latest data from the Federal Reserve, and we saw a big jump in credit card balances for the first time since February 2020.

Peter Schiff: The Fed Is Like the Boy Who Cried Wolf

There has been a growing sentiment in the markets that inflation isn’t transitory and the Fed is going to eventually have to tighten monetary policy to deal with it. The International Monetary Fund fed the narrative last week when Managing Director Kristalina Georgieva warned of a “sustained” inflation rise in the United States. This comes […]

US Debt Analysis: June 2021

The US Government is on an unsustainable debt trajectory. Even though the Federal Reserve has acknowledged this fact, most mainstream figures consider it a distant problem or even not an issue at all. The argument highlights that debt fears have raged since the debt crossed $1T decades ago and no negative consequences have materialized. This […]

Fun on Friday: Raise That Silver Cup!

On Wednesday night, I got to watch a bunch of guys skate around an ice rink with a silver cup hoisted over their heads. My beloved Tampa Bay Lightning won their second straight Stanley Cup championship with a 1-0 win over the Montreal Canadians. If it seems like we just did this – well – […]

How Long Can They Keep This Thing Going? SchiffGold Friday Gold Wrap July 9, 2021

This week, the IMF undercut the Fed’s “transitory” inflation narrative, warning about the possibility of sustained inflation in the US. But the real question remains unanswered – what will the Fed do about it? In this episode of the Friday Gold Wrap podcast, host Mike Maharrey talks about the options on the table. None of […]

ETFs Add Over 40 Tons of Gold in Q2

Gold-backed ETFs globally added 40.7 tons of gold in the second quarter of 2021, reversing a trend of significant outflows in Q1. In 2020, gold-backed ETFs recorded record net inflows of gold. Funds added nearly 231 more tons in 2020 than they did during the previous record year (2009/646 tons). But with declines in the price […]