Peter's Blog

More Americans Are Having a Hard Time Paying Their Big Credit Card Bills

Since price inflation took off in the wake of pandemic-era stimulus, Americans have blown through their savings and run up their credit cards to make ends meet. Now they’re starting to have a hard time paying those credit card bills. The number of Americans rolling credit card debt from month to month is now higher […]

More Banks Get Credit Downgrades as Financial Crisis Continues to Bubble Under the Surface

The financial crisis precipitated by rising interest rates continues to bubble under the surface. Earlier this month, Moody’s cut the credit rating of 10 small and midsize banks. It also placed six large banks on review for potential downgrades and revised 11 more banks from a stable outlook to a negative outlook. This week, S&P […]

Peter Schiff: BRICS Nations Will Blunt Western Dominance

The BRICS summit is underway with talk of expanding the economic block and speculation about a “new currency.” Peter Schiff appeared on Real America with Dan Ball to talk about these developments, saying the BRICS nations will blunt Western dominance.

Student Loan Payments Set to Restart After More Than Three Years On Pause

The more than three-year break from student loan payments is about to end. That’s more bad news for an economy that depends on consumer spending. Interest accrual on student loans will restart on September first with payments resuming Oct. 1.

Peter Schiff: Bidenomics Is a Disaster

Peter Schiff recently appeared on Real America with Dan Ball to talk about Bidenomics and the impact of inflation. Peter said Bidenomics is a disaster and price inflation isn’t beat. In fact, it will continue to increase as long as the government keeps borrowing and spending. Dan opened the interview pointing out that despite cooling […]

Americans Have Nearly Depleted Their Excess Savings

One of the reasons Americans were able to continue spending even as price inflation raged was they saved a lot of money during the pandemic lockdowns. But those savings are nearly depleted, according to a study released by the Federal Reserve Bank of San Francisco. Aggregate savings peaked at $2.1 trillion in August 2021. As […]

Peter Schiff: The Fed Is In a No-Win Situation

Most people now seem to think the Federal Reserve can beat price inflation and guide the economy to a soft landing. In his podcast, Peter Schiff explains why most people are wrong. The Fed is actually in a no-win situation. And if the Fed can’t win, gold can’t lose.

Waiting for BRICS…

The sell-off in precious metals which started in late July continued this week, but its momentum slowed with silver even showing a modest gain on the week so far. In early European trading, gold was $1892, having traded down to $1885 yesterday, for a net fall of $19 on the week. Silver was $22.78 having […]

Is This a 2007 Redux? SchiffGold Friday Gold Wrap Aug. 18, 2023

There is a growing consensus that the Federal Reserve can successfully slay price inflation and bring the economy to a soft landing. After all, the economy appears to be chugging along. But as Friday Gold Wrap host Mike Maharrey explains, there are a lot of things bubbling under the surface that should temper that optimism. […]

The Global Bank Credit Crisis

Globally, further falls in consumer price inflation are now unlikely and there are yet further interest rate increases to come. Bond yields are already on the rise, and a new phase of a banking crisis will be triggered. This article looks at the factors that have come together to drive interest rates higher, destabilising the […]