Peter's Blog

Dishonest Money Is Destroying Your Standard of Living

Dishonest money is destroying our standard of living. What do I mean by “dishonest” money? I mean government fiat money that it can create out of thin air. This is inflation and it constantly eats away our purchasing power.

Soft Landing? Not so Fast!

Good news! The recession is off! For months, economists predicted the Federal Reserve’s rate hikes to fight price inflation would spin the US economy into a recession. But there is a growing consensus that the central bank can slay price inflation while guiding the economy to a “soft landing.” Economists Bob Murphy and Jonathan Newman […]

Biden Budget Deficits Look Like Those Normally Seen In Recessions

To hear President Joe Biden tell it, the US economy is booming. Meanwhile, the Biden administration is running monthly budget deficits that you would normally see during a deep recession. With two months left to go, the deficit for fiscal 2023 now stands at $1.61 trillion, after the federal government charted another massive shortfall in […]

Peter Schiff: The Fed Will Never Hit Its Inflation Target

The Consumer Price Index (CPI) data for July came out last week. Even though the headline number ticked up slightly compared to June, most mainstream analysts took it as a sign that the Federal Reserve made more progress in its inflation fight. In fact, most mainstream pundits seem convinced that the Fed is on the […]

The Bill Is Coming Due! SchiffGold Friday Gold Wrap Aug. 11, 2023

Credit cards are great until the bill comes due. And the US economy has about maxed out the plastic. The Federal Reserve incentivized borrowing and the economy is buried under trillions of dollars in debt. As Friday Gold Wrap host Mike Maharrey explains in this episode, the bill is about to come due. He also […]

Debt Chickens Are Coming Home to Roost

After the Federal Reserve incentivized borrowing with more than a decade of artificially low interest rates and easy money, the debt chickens are coming home to roost. Last week, Fitch Ratings downgraded the US’s long-term credit rating from AAA to AA+, and on Monday, Moody’s cut the credit rating of 10 small and midsize banks.

Another Recession Warning: Credit Card Spending Suddenly Plunges

Flashing another recession warning sign, credit card spending suddenly fell off a cliff in June. American consumers have been using credit cards to make ends meet for months, but with credit card debt at record levels, rising interest rates appear to have slammed the door on spending. Credit card debt contracted in June for the […]

Ron Paul: Will the Fed Help End Donald Trump?

The Federal Reserve advertises itself as “independent” and above the political fray. We all know this isn’t true. The Fed is inherently political and makes decisions based on political calculations as much as economic data.

You Have Questions; We Have Answers: SchiffGold Friday Gold Wrap Aug. 4, 2023

In this special episode of the Friday Gold Wrap podcast, host Mike Maharrey answers listeners’ questions. He covers topics including the precious metals markets, investment strategies, the trajectory of the economy, the future of the US dollar, central bank digital currencies (CBDCs), and more.

Easing Price Inflation Is Transitory

Is price inflation really heading back toward the Federal Reserve’s 2% target? Most people in the mainstream seem to think so, and the recent drop in the consumer price index (CPI) appears to support this belief. Price inflation has trended downward over the last several months, with the annual CPI falling from a high of […]