Peter's Blog

Peter Schiff: The Next Crash Could Bring Down the Fiat Money System

Peter Schiff appeared on RT Boom Bust on Tuesday (Sept. 17) to talk about interest rates, gold and the dollar. Peter said the fiat currency system may not survive the next recession. The conversation started focusing on the repo operations conducted by the Federal Reserve early in the week, Peter said the financial media and […]

Peter Schiff: Why the Fed Won’t Be Able to Rescue the Economy the Next Time Around

Peter Schiff has been saying that the Federal Reserve is going to take interest rates back to zero and launch another round of quantitative easing in order to reinflate the bubble economy after the next crash. The central bank successfully pulled this off after the 2008 crisis. By dropping rates to zero and holding them […]

Fed Runs Repo Operations; Is It Baby-Stepping Toward QE?

In a move “Bond King” Jeffrey Gundlach said could be a prelude to the next round of quantitative easing, the New York Fed conducted a repurchase operation involving about $53 billion in debt instruments on Tuesday. The move to designed to unplug the financial system’s “plumbing” with an injection of cash was the first such […]

Peter Schiff: A Very Violent Move in the Bond Market

Former Reagan administration OMB Director David Stockman has called this the “mother of all bond bubbles.” Has that bubble popped? That remains to be seen, but bonds got hammered last week. Bonds have pretty much moved in tandem with gold over the last several weeks as perceived safe-haven trades. Peter Schiff talked about it in […]

Another Month, Another Record for Consumer Debt

Americans continue to drive the economy along spending money they don’t have. Consumer debt increased yet again in July, setting another record, according to the latest data released by the Federal Reserve. Total consumer debt surged $23.4 billion in July, driven by a huge jump in credit card balances. The big rise in consumer indebtedness […]

Europe Joins the De-Dollarization Party

We’ve written extensively about a push toward de-dollarization by countries like Russia and China and their desire to undermine the ability of the US to weaponize the dollar as a foreign policy tool. The global gold rush on the part of central banks is part of this movement. And it’s not just countries like Russia […]

Budget Deficit Shoots Past $1 Trillion for Fiscal 2019

The federal government continues to spend money at an insane rate and is running up budget deficits reminiscent of the Great Recession era. With one month left to go, the federal budget deficit for fiscal year 2019 eclipsed $1 trillion in August, according to Treasury Department data released last Thursday.

Fun on Friday: What’s the Deal With Friday the 13th?

It’s Friday the 13th! You know what? It already seems lucky to me. Heck, it’s Friday. That’s a pretty good start! I’ve never been one to get all torqued up about the number 13 anyway. In fact, I kind of like it. My preferred hockey number is 33 in honor of Patrick Roy and just […]

I Owe, I Owe… SchiffGold Friday Gold Wrap Sept. 13, 2019

The price of gold whipsawed this week, driven up and down by various headlines. In this episode of the Friday Gold Wrap, host Mike Maharrey covers some of the big news that moved the markets. But he said that we need to keep our eyes on the big picture. All of this is happening in […]

Peter Schiff: Negative Interest Rates Are Boneheaded

Donald Trump has been badgering Federal Reserve Chairman Jerome Powell for months, begging for lower interest rates. Yesterday, he took things to another level, saying that the “boneheads” at the Fed need to push rates into negative territory. In his podcast, Peter Schiff said negative interest rates are boneheaded.