Peter's Blog

World Gold Council Report: Gold Demand Soft in First Quarter

The World Gold Council described overall demand for gold as “soft” in its Global Demand Trends Q1 2018 report. Global demand was down 7% year-on-year. The WGC said the drop was primarily due to weak investment demand. Investors added to their holdings of gold coins and bars, as well as gold-backed ETFs, but at a […]

Egypt’s Second Richest Man Has Half His Net Worth Invested in Gold

The second richest man in Egypt has put half of his $5.7 billion net worth in gold. During an interview with Bloomberg, Naguib Sawiris said he expects gold to rally above $1,800 per ounce as “overvalued” stock markets crash. 

US Treasury Sets First Quarter Borrowing Record

The US government has hit borrowing levels not seen since the peak of the financial crisis. The US Treasury’s net borrowing totaled $488 billion from January through March, according to a statement released Monday. That was $47 billion more than the department’s estimate. It was also a record for first quarter borrowing, according to Bloomberg.

Jim Rickards Speculates About a Bank Run on the New York Fed’s Store of Gold

Could we be seeing a run on the Federal Reserve Bank of New York? Jim Rickards thinks we just might be. But it’s not your typical cash run. It’s a run on the bank’s gold. The classic image of this is the scene from the Christmas-season film It’s a Wonderful Life, with Jimmy Stewart. We’ve all […]

“Bond King” Not Bullish on US Government Bonds; He’s Looking at Gold

He’s been dubbed the “Bond King,” but Jeffery Gundlach isn’t particularly bullish on bonds right now – at least not US government bonds. And he’s certainly not bullish on stocks. Gundlach has his eyes on gold. Gundlach heads DoubleLine Capital, overseeing some $119 billion in assets. During a speech at the 2018 Sohn Investment Conference last week, he said […]

Peter Schiff: Bernie’s Guaranteed Jobs Program Is Utter Nonsense

Bernie Sanders wants everybody to have a job with health benefits paying $15 per hour. Most people would like to see that happen. But Bernie is willing to put your money where his mouth is. He’s come up with a plan guaranteeing every American worker “who wants or needs one” such a job. Here’s how the Washington […]

The War on Cash: It’s Even Worse than It Seems

About a year ago, the IMF published a creepy paper offering governments suggestions on how to move toward a cashless society even in the face of strong public opposition. It hasn’t been in the news a whole lot lately, but the war on cash undoubtedly continues. Governments and central bankers claim moving toward a cashless society […]

Could Rising Interest Rates Crush Stock Market Dreams? SchiffGold Friday Gold Wrap 04.27.18

The SchiffGold Friday Gold Wrap podcast combines a succinct summary of the week’s precious metals news coupled with thoughtful analysis. You can subscribe to the podcast on iTunes.

Fun on Friday: They Stole a Queen’s Heart

If you’re a romantic man, at some point you might have daydreamed about stealing a queen’s heart. Well, some thieves in France did just that. Like, they literally stole her heart. As in the organ. When Anne of Brittany died, her heart was removed and encased in pure gold. It’s been in a French museum […]

Is a Zombie (Company) Apocalypse Upon Us?

Rising interest rates could unleash a zombie company apocalypse – if the Fed lets it happen. Corporate bankruptcy levels in the US hit seven-year highs last month. New Chapter 11 bankruptcies surged 63% year-over-year in March. All-told 770 companies filed for Chapter 11 protection last month. That is the highest level since April 2011.