Peter's Blog

A Monster Under the Bed: SchiffGold Friday Gold Wrap December 1

Imagine a bedroom. It looks clean and safe, but there is a monster under the bed that nobody notices. As host Mike Maharrey explains in this episode of the Friday Gold Wrap, that’s basically the condition of the US banking system right now. It appears “sound,” but a closer look reveals a financial crisis is […]

US Trade Deficit 2024

No one is talking about the US trade deficit in the current fiscal year, but it is likely to be another record, bringing with it new rounds of trade sanctions and protectionism. In this article, I explain why the twin deficit hypothesis will apply, bearing in mind a likely budget deficit outturn of $3 trillion […]

Unrealized Losses at US Banks Exploded in Q3

Unrealized losses on securities held by US banks exploded by 22% in the third quarter. Of course, unrealized losses don’t really matter — until they do. This is yet more evidence that the financial crisis that kicked off last March continues to bubble under the surface.

Marc Faber: Inflation Is Here to Stay

During a recent interview at the 2023 Precious Metals Summit Zurich event, Doom, Boom & Gloom Report publisher Marc Faber says now is the time to buy gold, silver and platinum because inflation is here to stay.

Fed Rate Cuts Won’t Save the Economy

October CPI coming in cooler than expected ramped up expectations that the Federal Reserve is at the end of its inflation fight. In fact, many analysts now expect the Fed to begin cutting interest rates in 2024. Looking at the bigger picture, inflation’s apparent retreat boosted mainstream belief that the economy will glide to a […]

“Resilient” American Consumers Cutting Back Spending, Running Up More Debt This Holiday Season

Holiday shoppers plan on cutting back on spending and piling on even more debt this year, and nearly a quarter of Americans still haven’t paid off their debt from last year’s holiday spending spree. These were just a few revelations in a recent WalletHub survey that indicates American consumers aren’t quite as “resilient” as pundits […]

The Fed Is Losing Billions and It Could Take Four Years to Make It Up

The Federal Reserve has lost well over $100 billion dollars, and even when it returns to “profitability,” it will likely take over four years before the central bank is completely in the black. And you’re going to foot the bill.

Deutsche Bank Economists Say the Fed Will Create More Inflation in 2024

Deutsche Bank economists say the Federal Reserve will create more inflation in 2024. OK, that’s not exactly what they said. But that is the implication of their latest forecast.

Chinese Investors Turning to Gold

Chinese investors are turning to gold. China Daily called the demand for gold “robust” through the first three quarters of 2023 and said it is expected to continue “as economic and geopolitical uncertainties may drive up investors’ purchases of safe-haven assets.”

Fed Bank Bailout Program Borrowing Surged in November

The financial crisis that kicked off in March continues to bubble under the surface. Total outstanding loans in the Federal Reserve’s bank bailout program jumped by just over $5 billion in November.