Peter's Blog

Fun on Friday: How Many Years Would You Spend in Prison for Millions in Gold?

Have you heard about the guy who’s spent five years in federal prison because he won’t give up the location of about 500 gold coins he found in a historic shipwreck? Yes. Five years. How many years would you spend in prison for millions in gold?

Welcome to My Fed Talk: SchiffGold Friday Gold Wrap Dec. 18, 2020

The Federal Reserve held its last meeting of the year this week. There were no big surprises policy-wise. But Jerome Powell and company made it clear that the easy-money spigot will remain wide open pumping trillions of dollars created out of thin air into the economy. In this episode of the Friday Gold Wrap podcast, […]

Physical Silver Investment Set to Surge 27% and Other Silver News

Investment in physical silver is expected to surge by 27% to 236.8 million ounces in 2020, a 5-year high. This was one of the highlights of the annual Interim Silver Market Review highlighted in the December issue of the Silver Institute’s Silver News.

Peter Schiff: Jerome Powell’s Ignorance Won’t Be Bliss

In its last meeting of 2020, the Federal Reserve made it clear the easy-money spigot will remain wide open into the foreseeable future. During his post-meeting press conference, Federal Reserve Chairman Jerome Powell seemed clueless about the ramifications of this policy – particularly the impact of inflation. Peter Schiff talked about the Fed meeting and […]

South Carolina Bills Would Cut Taxes on Gold and Silver, Support Sound Money

Three bills prefiled in the South Carolina House would cut taxes on precious metals and take important steps toward treating gold and silver as money instead of as commodities. Passage of these bills would also set the stage to undermine the Federal Reserve’s monopoly on money. South Carolina is the first state to propose this […]

Commerzbank: Gold Bull Run to Continue into 2021

Coronavirus vaccines began rolling out this week, boosting optimism that the economy will soon rebound. But as Peter Schiff said in a podcast last month, there is no vaccine for what ails the economy. Even if the vaccine proves effective and governments ease off the draconian policies they have implemented in response to the pandemic, […]

Distressed Commercial Real Estate Sales Could Eclipse Number After Financial Crisis

It appears the government lockdowns in response to the COVID-19 pandemic has hastened the deflation of the commercial real estate bubble. According to CoStar Group, an estimated $126 billion in commercial real estate will be forced to sell at distressed prices over the next two years. That will eclipse the amount of distressed commercial property […]

Nearly Half of Small Business Owners Fear They Will Have to Close Permanently

According to a recent survey, 48% of small business owners fear they will have to shut down permanently before the end of the year. That was a jump from 42% just two months ago. Alignable surveyed 9,201 small business owners. Analysts based their results on the answer to two questions.

US Government Runs Yet Another Really Big Deficit in November

The US government kicked off fiscal 2021 with the biggest October deficit in history. But with the first of November falling on a weekend, some November spending got shifted into October, inflating that month’s deficit. Now that we have the November monthly Treasury Statement, we have a better sense of how big deficits are running in […]

Peter Schiff: Fed Fuels IPO Folly

There were two big IPOs last week – DoorDash and Airbnb. Both companies raised over $3.5 billion in their public offerings. In his podcast, Peter Schiff talked about the IPO frenzy. He argues that it has very little to do with funding great business ventures. It’s more about making a quick buck in a market […]