Peter's Blog

Gold and Silver: Much Better Than US Stocks

The following article was written by Mary Anne and Pamela Aden for the May 2011 edition of Peter Schiff’s Gold Letter. To hear Fed chairman Ben Bernanke tell it in his press conference this past month, the US stock market is in the beginning stages of a moderately paced recovery. Many on Wall Street are […]

This Month in Gold – May 2011

Gold Breaks $1,500 An Ounce New York Times – The price of gold broke through the psychologically significant $1,500 an ounce barrier on Wednesday, April 20th for the first time. Global inflation and sovereign debt concerns, geopolitical unrest in the Middle East, and mounting Asian demand combined to drive the precious metal to a new […]

Inflation Destroys Real Wages

Michael Pento’s Market Commentary In the same vein as medieval physicians believed bloodletting would cure illness, modern snake-oil economists still perilously cling to their claim that rising wages and salaries are the cause of inflation. With my recent debates with these mainstream economists, I’ve heard the following: “without rising wages, where does the money come […]

Late to The Party…Once Again

By Peter Schiff The only thing more ridiculous than S&P’s too little too late semi-downgrade of U.S. sovereign debt was the market’s severe reaction to the announcement. Has S&P really added anything to the debate that wasn’t already widely known? In any event, S&P’s statement amounts to a wakeup call to anyone who has somehow […]

Core Incompetency

Michael Pento’s Market Commentary For years the Federal Reserve has told us that in order to detect inflation in the economy it is important to separate “signal from noise” by focusing on “core” inflation statistics, which exclude changes in food and energy prices. Because food and energy figure so prominently into consumer spending, this maneuver […]

Spending Your Stash

By Peter Schiff While gold and silver coins are nice to look at, and there’s a certain sense of independence one gets from owning them, most purchasers buy physical precious metals with the goal of eventually spending them. As they say, you can’t take it with you. Unfortunately, many purchasers buy without ever knowing how […]

Volatile Times Ahead

The following article was written by Mary Anne and Pamela Aden for the April 2011 edition of Peter Schiff’s Gold Letter. Gold nearing $1500, silver nearing $40, oil well above $100! What a week… what a month… what a year! Escalating violence in Libya is adding fuel to the already strong bull markets, especially with […]

This Month in Gold – April 2011

Gold Heads for Longest Run of Quarterly Gains in 3 Decades Bloomberg – This month, gold marked its tenth straight quarterly gain and silver its ninth – the longest rallies for both since 1975. Unrest in the Middle East has piled on to existing concerns about the stability of the dollar and the euro to […]

The Inflation Knuckleball

By Michael Pento By its very definition, fiat money is something created out of thin air: the word “fiat” is Latin for “let it be done” (as in, by decree). But the convenience that such a currency system offers central bankers is paid at the expense of savers. With nothing of real or lasting value […]

The Treasury Auction Shell Game

By Peter Schiff Very few people have either the time or patience to sift through the data released by the Treasury Department in the wake of its bond auctions. But the numbers do provide direct evidence of the country’s current financial condition that in many ways mirror a financial shell game that typifies our entire […]