Peter's Blog

Peter Schiff: The World Will Drown in an Ocean of Inflation; Gold Is Going Ballistic

The gold market took a one-two punch on Tuesday as Trump made some concessions in the trade war and inflation numbers came in a bit higher than expected. Peter Schiff talked about it in his latest podcast, saying gold traders still don’t understand the gold rally.

China Adds 10 More Tons of Gold to Its Hoard

China bought gold for the eighth straight month in July, adding another 10 tons to its rapidly growing hoard. The recent purchases boosted the People’s Bank of China’s gold reserves to 62.26 million ounces – about 1, 945 tons.  China has added about 94 tons of gold to its stash over the past eight months.

The Fed Has the US Economy on Life Support

The Federal Reserve has the US economy on monetary life support and Daily Reckoning managing editor Brian Maher says it will never again breathe on its own. As hedge fund manager Kyle Bass put it, the economy is trapped within the inescapable tractor beam of zero percent interest rates.

2019 Federal Budget Deficit Already Above 2018 Number

The federal government continues to spend America into a black hole and has already topped last year’s budget deficit with two months left in the fiscal year. The US budget deficit in July came in at $120 billion thanks to a surge in spending, according to data released by the Treasury Department. Uncle Sam spent […]

Is the Mainstream Turning Bullish on Gold?

In a podcast a couple of weeks ago, Peter Schiff said we now have all the elements of a gold bull market. Well, it looks like the mainstream might be starting to catch on. A headline at Bloomberg on Friday proclaimed “Hedge Funds Go All-In on Gold.” According to the Bloomberg report, hedge funds increased […]

American Consumers Propping Up Economy With Money They Don’t Have

Consumer debt is driving American economic growth. Total outstanding consumer debt surged over $4.1 trillion in the second quarter of 2019, according to the latest data released by the Federal Reserve. American indebtedness grew by 4.9 over the year, and the quarterly gain from Q1 to Q2 came in at $60 billion — the biggest […]

Fun on Friday: Close Your Vault

I want Fun on Friday to be, well, fun. But I also want to provide a public service to you, my dear readers. Today, I have a really good pro-tip for you. Close your vault. And lock it.

Gold’s Record Week! SchiffGold Friday Gold Wrap Aug. 9, 2019

The price of gold surged this week, breaking all-time records in a number of currencies. It also did pretty well in dollar terms, hitting six-year highs and pushing above the key $1,500 level. Meanwhile, silver had its best single day in over three years. What drove this week’s precious metals rally? And can we expect […]

ETF Gold Holdings Hit Highest Level Since March 2013

Gold holdings in gold-backed ETFs globally surged to the highest level in over six years in July. Gold-backed ETFs added 52 tons of gold last month, with net inflows totaling $2.6 billion, according to the latest data released by the World Gold Council. This follows on the heels of a June increase that totaled 127 […]

Silver Charts Biggest Single-Day Gain Since 2016

Gold pushed above $1,500 again Wednesday (Aug. 7) and silver joined the party, charting its biggest single-day gain in nearly three years. Silver surged 73 cents on the day for a 4.4% gain, closing above the key $17 level for the first time since January 2018.