Peter's Blog

Jim Rickards: If the Fed Does Raise Rates, Look Out Below (Video)

A June interest rate hike is the talk of the town. Jim Rickards doesn’t think it will happen, but if it does, he says, “Look out below.” Rickards appeared on RT’s Boom Bust to explain why. First, he makes the case that we shouldn’t listen to every word that comes out of every Fed regional […]

Millions of “Subprime Consumers” Getting Credit Cards; What Could Go Wrong?

We’ve said before that the growing level of debt in the US is the elephant in the room we are going to have to address at some point. We’ve talked about the massive government debt and the drag it puts on the US economy. We’ve talked about the crushing weight of student loan debt – […]

The Fed Knows It’s Backed Into a Corner (Video)

All of the talk lately is about a Federal Reserve rate hike in June. In fact, in many circles, it has become a forgone conclusion. On Monday, Philadelphia Fed Bank president Patrick Harker said he could see up to three hikes before year’s end. But Steen Jakobsen, chief economist and CIO of Saxo Bank, says […]

Should I Be Worried About Gold Confiscation?

This article was submitted by JD Bauman, SchiffGold Precious Metals Specialist. Any views expressed are his own and do not necessarily reflect the views of Peter Schiff or SchiffGold. One of the common questions we hear from gold buyers is, “Is it possible that the government might come after my gold and confiscate it?” In […]

Rising Price of Gold a Vote of No-Confidence in Central Bankers; $10K Gold on the Horizon (Video)

Jim Rickards recently appeared on CBC News’ The Exchange and made the case for $10,000 gold. He said the recent jump in the price of gold represents a world-wide vote of no-confidence in central bankers. The increase in the dollar price of gold is just a reflection of the decline of the dollar. So, it’s […]

Congress Helped Break Puerto Rico; Now It’s Trying to Fix It

Policies create by Congress helped break Puerto Rico. Now it’s  wrangling over over how to fix it, as time seems to be running out on the US territory. Congress has struggled to find solutions acceptable to both Republicans and Democrats. The House Natural Resources Committee released a compromise bill around midnight Wednesday, hoping to bring […]

Welcome to Obama’s Grand Jobs Recovery: Part-Time Work for Everyone!

Jobs, jobs, jobs! We’ve been hearing about strong jobs growth for months. And it’s true. There are lots of new jobs. It’s a good thing too, because a lot of people need two or three to make ends meet in today’s economy. The Fed is hinting strongly at an interest rate hike in June. In […]

Marc Faber: Fed Won’t Raise Rates; Helicopter Money More Likely (Video)

With the release of the Federal Reserve’s April meeting minutes, it’s all of a sudden a forgone conclusion that the Fed will raise interest rates in June. Marc Faber, publisher of the Gloom Boom & Doom Report, thinks it’s all a bunch of hot air. He appeared on Kitco News yesterday and argued that the […]

Foreign Central Banks Jettisoning US Debt at Alarming Pace; Buying Gold

Continuing a trend that started last year, central banks around the world are dumping US debt at a record pace. Central banks sold off a net $17 billion in US Treasury bonds in March. Sales set a record in January, hitting $57 billion. China, Russia, and Brazil led the way, each dumping at least $1 […]

Chinese Bank Buys Huge London Gold Vault Expanding Influence on World Gold Market

China is serious about gold and continues to expand its influence on the world gold market. On Monday, China’s largest bank announced the purchase of one of Europe’s biggest gold vaults. Reuters reported the sale: ICBC Standard Bank is buying Barclays’ London precious metals vault, giving the Chinese bank the capacity to store gold worth […]