Peter's Blog

Russia’s Second-Largest Bank Betting on Gold

Russia’s second-largest bank is betting on gold to boost profits in the midst of the COVID-19 pandemic and global economic slowdown. According to a Bloomberg report, VTB Bank has prioritized gold trading in addition to lending to gold mining companies.

Peter Schiff: People Should Be Buying Gold as a Response to the Election

It looks like Joe Biden will ultimately win the presidential election, although it will likely be weeks before all of the official votes are in and the legal wrangling could go on even longer. One thing that is clear is that the polls were horribly wrong. They were projecting a Biden landslide. If Trump did […]

More Bad News for the Labor Market

More bad news for the labor market. Nearly 1-in-10 companies are planning layoffs in the next three months. That’s on top of the more than a quarter of US companies that have already let workers go in Q4.

How Will the Next President Impact Gold?

How will the outcome of the US election impact the price of gold moving forward? Of course, there is no way to know for sure. US politics is just one of the myriad factors that influence the gold market and you never know how things will play out. But there are reasons to believe the […]

Silver Investment Demand Surges and Other Silver News

Silver investment demand surged through the first three quarters of 2020, according to the latest issue of Silver News published by the Silver Institute. Global silver Exchange Traded Product (ETP) holdings rose by 297 million ounces through the third quarter of this year, nearly tripling the growth in the comparable period last year.

The Fed Balance Sheet Keeps Growing and There Is No Exit

The Federal Reserve balance sheet could be heading to $40-50 trillion or higher as the central bank continues to monetize US debt. To borrow a phrase from the movie “Pretty Woman,” this is the fork they know. If the economy turns sour, the government borrows money and the Fed backstops it by buying Treasuries. The […]

The Debt Monster Is Loose

The debt monster is loose. S&P Global Ratings projects the global debt-to-GDP level will swell to a record 265% this year. It also expects insolvencies and defaults to rise to levels not seen since the 2009 crisis.

Peter Schiff: The Worst Pre-Election Stock Market Ever

The US stock market is coming off its worst week since March. It was also the worst pre-election stock market in history. In his latest podcast, Peter talked about the market, the election and what’s likely ahead.

Fun on Friday: The Haunted Gold Mine

Halloween tomorrow. Seems like a good time for a spooky gold story.

GDP Reality Check: SchiffGold Friday Gold Wrap Oct. 30, 2020

Gold and silver have had a tough week. So have stocks. In a lot of ways, it looked like March all over again, with worries about increasing COVID-19 cases and new lockdowns.  But then we got the Q3 GDP number and that injected a dose of optimism. In this episode of the Friday Gold Wrap […]