Peter's Blog

What a Difference Two Weeks Makes! SchiffGold Friday Gold Wrap Dec. 15, 2023

Two weeks ago, Federal Reserve Chairman Jerome Powell said it would be “premature” to conclude that monetary policy is sufficiently restrictive. This week, the Fed indicated rate cuts are on tap for next year. What a difference two weeks makes! In this episode of the Friday Gold Wrap, host Mike Maharrey breaks down this week’s […]

The Fed Surrenders to Inflation!

The Federal Reserve just surrendered to inflation. Fed officials won’t call it a surrender. They’re claiming victory. But surrender is the effect of the policy trajectory laid out by the Federal Open Market Committee (FOMC) at its December meeting.

Inflation in Real Life Much Worse Than in Government Fantasy World

Inflation is dead! At least that’s what you would think if you listen to government officials and talking heads in the financial media. So, how is this victory over inflation working out for the average person? Not so great.

Plenty of Hype for a So-So CPI Report

Why do virtually all the mainstream pundits think the Federal Reserve has won the inflation fight? Maybe it’s just wishful thinking. They want the Fed to win so it can go back to what it does best – creating more inflation with artificially low interest rates and quantitative easing. Regardless, most of the mainstream punditry […]

Jim Grant: We’ve Yet to Feel the Full Consequences of the “Era of Free Money”

In a recent interview with Forbes, economic commentator and historian Jim Grant warned that we haven’t fully felt the inevitable fallout from the “free money era.” I think that the consequences of more or less 10 years of proverbially free money are going to play out in the credit markets.”

Peter Schiff: Joe Biden Doesn’t Have Anything to Take Credit For

Most mainstream pundits characterized the November jobs report as a “Goldilocks” report. Job growth was strong enough to support the “soft landing” narrative but not so strong it might scare the Fed into raising interest rates again. President Joe Biden used the report to boast about his economic achievements. But according to Peter Schiff, Biden […]

Consumer Borrowing Slows; Is the “Resilient” American Consumer Running Out of Gas?

The “resilient” American consumer seems to be running out of gas. Americans are still running up credit card debt but at a much slower pace. Meanwhile, borrowing for big-ticket items has cratered. Total consumer debt rose by $5.2 billion in October, according to the latest data from the Federal Reserve. That was a relatively small […]

Peter Schiff: Just One More Hyped Up Jobs Report

According to the latest non-farm payroll report from the Bureau of Labor Statistics (BLS) the US economy added 199,000 new jobs in November and the unemployment rate dropped to 3.7%. This was widely viewed as a “strong” jobs report. According to one mainstream analyst, the November employment data “portrays an economy that is easing toward […]

Battling Economic Ignorance One President at a Time: SchiffGold Friday Gold Wrap Dec. 8, 2023

It’s not a good idea to argue about things you don’t know anything about. Most people realize this — until it comes to economics. A lot of people argue economics from a position of ignorance. President Biden is one of those people. In this episode of the Friday Gold Wrap, host Mike Maharrey dissects a […]

Peter Schiff: A Buying Opportunity as Gold Pulls Back from Record High (Video)

Gold surged to a new record high of $2135 early Sunday morning before pulling back sharply Monday. In this video, Peter Schiff explains why this is a buying opportunity. After setting the record, gold quickly sold off and consolidated, dropping over $100 back to around $2,020. Some people see the quick selloff as a bearish […]