Peter's Blog

Credit Card Spending Spikes Again as Big-Ticket Borrowing Goes Flat

American consumers continued to pile up debt on credit cards while borrowing for big-ticket items fell into the basement in August. This is the behavior of extremely financially stressed people.

Peter Schiff: Job Numbers Not as Great as the Headlines Make Them Seem

The Bureau of Labor Statistics (BLS) released the non-farm payroll report for September on Friday. Once again, the headline numbers didn’t reflect reality. Peter Schiff talked about it in his podcast. He said all of the people like President Biden probably shouldn’t be bragging about creating jobs people wish they didn’t have to have.

Collateral Squeeze

The sell-off in precious metals continued as bond yields continued to rise and a strong dollar persisted. In early trade in Europe this morning, gold was $1822, down another $26, unchanged on the year. Silver traded at $21, down $1.17. Comex volumes in both metals declined from good levels, indicating that selling pressure is declining.

Not Just Wrong; Wildly Wrong! SchiffGold Friday Gold Wrap Oct. 6, 2023

The mainstream wasn’t just wrong about inflation in 2020. It was wildly wrong. In this episode of the Friday Gold Wrap podcast, host Mike Maharrey dissects a 2020 video produced by CNBC to show just how wrong they were. He explains why they were wrong and teaches some economics along the way. He also discusses […]

Unwinding the Financial System

This article looks at the collateral side of financial transactions and some significant problems that are already emerging. At a time when there is a veritable tsunami of dollar credit in foreign hands overhanging markets, it is obvious that continually falling bond prices will ensure bear markets in all financial asset values leading to dollar […]

Ron Paul: A Small Continuing Resolution Victory Could Have Big Consequences

The national debt recently blew past $33 trillion. And yet with the exception of a few intransigent Republicans, there is virtually no discussion about reining in spending. Congress managed to avoid a government shutdown by passing a continuing resolution that did very little to address spending. But as Ron Paul points out, there was a […]

Could They Have Been More Wrong About Inflation in 2020?

I recently ran across a video produced by CNBC back in July 2020. It is titled “Why Printing Trillions of Dollars May Not Cause Inflation.” That aged poorly, didn’t it? And people wonder why I keep saying you should be skeptical of mainstream narratives.

Central Bank Gold Buying Continued to Sizzle in August

Central bank gold buying continues to sizzle. Central banks globally added a net 77 tons to their reserves in August, according to the latest data compiled by the World Gold Council.

The Advantages of Including Gold in Your IRA

You can hold physical gold and silver in an IRA, and there are certain advantages to doing so. Historically, IRAs with an allocation to precious metals perform better than IRAs with no exposure to silver or gold. There are also tax benefits when contributing to an IRA.

Fed’s Favorite Inflation Measure Revised Higher

Price inflation has been even worse than advertised. Of course, you know that because you’ve lived it. But it is nice when the data crunchers swerve a little closer to reality. The Bureau of Economic Analysis did just that, revising its Personal Consumption Expenditure (PCE) data higher for the entirety of this inflation cycle.