Peter's Blog

November Jobs Report Reveals Signs of Trouble

When unemployment began to quickly shrink over the summer as governments loosened up on the economic lockdowns in response to COVID-19, everybody got giddy and assumed we were in for a quick recovery. But we’ve been saying that the quick turnaround was an illusion and that the lockdowns caused deep wounds in the labor market. […]

Inflation Eats Up Social Security Benefits

A lot of people have a vague sense that too much inflation might be a bad thing. But in a world where central banks and governments promote and implement policies intended to increase inflation by 2% annually, most people don’t seem to really understand just how much inflation erodes their purchasing power over time. After […]

Peter Schiff: The Fed Is Fighting Fire With Fire

The US dollar has been showing significant weakness over the last several weeks. The dollar index closed at 90.814. Just two weeks ago, it was in the 94 range. Compared to the Swiss franc, the dollar is at a 6-year low. In his podcast, Peter talked about the dollar weakness and the Federal Reserve policy […]

Fun on Friday: Yukon Cornelious’ Misguided Quest

Now it’s time to talk Christmas! I know. A lot of people started with Christmas the day after Halloween. This absolutely drives me crazy. Why do we just skip over Thanksgiving? Thanksgiving is a magnificent holiday! I mean, it’s important to give thanks. And who doesn’t want to eat large amounts of delicious food and […]

Back to Reality: SchiffGold Friday Gold Wrap Dec. 4, 2020

After a dismal November, gold and silver are starting to show some signs of life. But what caused the big drop in the price of precious metals last month? Was it warranted? In this episode of the Friday Gold Wrap podcast, host Mike Maharrey looks at the economic and monetary fundamentals and tries to bring […]

Central Banks Add Nearly 23 Tons of Gold to Reserves

After two months of net global declines in gold holdings, central banks became net buyers again in October. Gold-buying by central banks has slowed from the record pace we saw in 2018 and 2019, but many countries continue to load up on the yellow metal. In October, central banks added a net 22.8 tons of […]

Money Supply (Inflation) Continues to Grow at Torrid Pace

The money supply continues to grow at a torrid rate. Based on the “true” or Rothbard-Salerno money supply measure (TMS), the money supply grew by 37.08% year-on-year in October. That was down just slightly from September’s record rate of 37.54%.

Fed Would Need to Double Quantitative Easing to Keep Pace With US Debt

The US government is increasingly relying on the Federal Reserve to prop up the Treasury market and absorb the trillions of dollars in bonds it’s issuing in order to fund its massive budget deficits. The Fed now holds a record 16.5% of US debt. And it’s going to have to buy trillions of dollars of […]

Peter Schiff: Government “Help” Is Not Helping

The stock market is booming as everybody anticipates an end to the coronavirus pandemic with the rollout of a vaccine. But as Peter Schiff pointed out in this podcast, the rally isn’t really about a cure for COVID. It is being driven by government and central bank policies meant to shield us from the pain […]

17 Million Americans Behind on Mortgage or Rent Payments

Even as market mania continues over hopes for a coronavirus vaccine, the economic devastation caused by the government response to the pandemic continues to ravage the economy.  Seventeen million households are behind on rent or mortgage payments, and nearly 6 million Americans say they are at risk of eviction in the next few months.