Peter's Blog

Fed Chair Powell’s Solution Is the Root of the Problem

Federal Reserve Chairman Jerome Powell went negative in a webcast speech on Wednesday, May 13. I’m not talking about negative interest rates, although that could be coming down the pike as well. Powell went negative on the prospects of a quick economic recovery. He’s right about the prospects for the economy, but he’s wrong about the […]

Staggering April Budget Deficit Just the Tip of the Iceberg

The April federal budget deficit came in at a staggering $738 billion as government coronavirus stimulus began flowing through the pipelines and revenue dipped due to the government lockdowns.

ETF Gold Holdings Set Yet Another Record

Gold continued to flow into gold-backed ETFs, setting another all-time record in April. Globally, funds added another 170 tons of gold last month amounting to $3.9 billion, according to the latest data from the World Golf Council. It was the sixth straight month of net inflows.

Peter Schiff: Inflation Is Going to Be a Huge Problem

The consumer price index fell 0.8% in April, according to the latest Labor Department data. It was the biggest plunge in consumer prices since December 2008. year-over-year, the CPI is up 0.3. By all indications, it appears inflation is the least of our problems despite massive Federal Reserve money-printing and unprecedented government spending. But in […]

Is Silver Set to Shine? (Video)

Silver hasn’t been this cheap compared to gold in 5,000 years of human history. What is the silver-gold ratio telling us? Is silver about to shine?

Household Debt Was $1.6 Trillion Higher Than ’08 Peak Before COVID-19

Total household debt was over $1.6 trillion higher than the previous peak in 2008 even before the full force of the coronavirus pandemic government shutdowns hit the economy. Household debt increased by $155 billion (1.1%) in Q1 to a total of $14.3 trillion, according to the latest data released by the New York Fed. The […]

Are Negative Interest Rates in Our Future?

Are negative interest rates in our future? The markets are starting to think so. On Thursday, Fed fund futures contracts began pricing in negative interest rates. They were initially priced in for December but then shifted to early 2021. This doesn’t guarantee negative rates, but it does indicate markets are beginning to expect them.

Peter Schiff: These Jobs Aren’t Coming Back

The US Labor Department released its April non-farm payroll report on Friday and it was as bleak as expected. As Peter Schiff put it, it was the weakest jobs report in the history of jobs reports. And even worse, a lot of these jobs are never coming back. A record 20.5 million Americans lost their […]

Fun on Friday: Don’t Send Your Scam Mail to This Guy

I have some advice for you wanna-be scammers out there. Check your mailing list. A scammer in British Columbia sent his pitch to a cop – a member of the Delta police economic and technical crime unit to be exact.

The New Normal: SchiffGold Friday Gold Wrap May 8, 2020

People keep talking about the “new normal” we’ll all have to adjust to as we recover from the coronavirus pandemic. So, what does that mean for the economy? In this episode of the Friday Gold Wrap podcast, host Mike Maharrey looks ahead at the new normal, the prospects of an economic recovery and speculates that […]