Peter's Blog

The Fed Wants You to Feed the Debt Monster: Friday Gold Wrap 03.22.19

The Fed wrapped up another FOMC meeting this week and came out even more dovish than expected. Rate hikes are off the table in 2019 and the central bank now only expects one hike in 2020. In his episode of the Friday Gold Wrap, host Mike Maharrey talks about the meeting and the dirty little […]

Peter Schiff: The Fed Is Not Getting It Right; It’s Proving How Much It Got Wrong

There’s that word again — patient. Jerome Powell once again emphasized patience during the most recent FOMC meeting. The Federal Reserve left interest rates unchanged and took any hikes for 2019 off the table. It went a step further and projected just one rate hike in 2020. During his most recent podcast, Peter Schiff said […]

Most Americans Won’t Be Paying Off Their Credit Cards Anytime Soon

Americans owe over $1 trillion in credit card debt and recent polling data indicates they aren’t paying off those balances anytime soon. According to a CNBC article, nearly half of all Americans carry a balance on their credit cards. Of those, only 30% say they will be able to pay off that balance within the […]

Is the World Really Running Out of Mineable Gold?

Is the world really running out of gold? According to a report in Deutsche Welle, it just might be.

World Gold Council Report: Fed Shift to Neutral Interest Rate Policy Historically Good for Gold

Historically, a Federal Reserve shift from interest rate tightening to a neutral stance has boosted the price of gold, although the effect has not always been immediate, according to a report released by the World Gold Council this week. It wasn’t long ago that the Fed was talking about multiple rate hikes in 2019 and […]

Dr. Marc Faber: We Are Probably Already In a Recession

Not too long ago, Peter Schiff said, “The rate hikes of the past have already guaranteed that the economy is headed for recession. It doesn’t matter whether they continue to raise rates in the future. The recession is a done deal.” In a recent interview, economist and editor of the Gloom, Boom and Doom Report,  […]

The Credit Risks Hiding Behind the Averages (Video)

As we reported last week, consumer debt continues to break records month after month. Americans owe over $4.3 trillion dollars in revolving debt (primarily credit cards), student loans and auto loans. When you factor in mortgages, the number climbs to $13.54 trillion. That figure was $869 billion higher than the previous peak of $12.68 trillion […]

Jim Grant on the Ignorance That Knows Not It Is Ignorant (Video)

Jim Grant recently appeared on the Santelli Exchange on CNBC and the conversation quickly turned to this notion that “intellectuals” have the wherewithal to run the economy. Friday Gold Wrap host Mike Maharrey recently explained two very important economic principles that make it impossible for central planners to ever truly succeed. As he put it, […]

West Virginia Legislature Approves Measure to Repeal Sales Tax on Gold and Silver Bullion

The West Virginia legislature has approved a bill that would take an important first step towards treating gold and silver like money instead of a commodity by repealing sales and use taxes on bullion.

Fun on Friday: Did You Know There Are 31 Ongoing National Emergencies?

Well, if you’re any kind of news junkie, you probably know that the Senate voted this week to reject President Trump’s national emergency declaration. But fear ye not – there are plenty of other national emergencies on the table!