Peter's Blog

Inflation Not a Problem If You Don’t Buy Anything! Friday Gold Wrap Oct. 13, 2023

Great news! The inflation war is over and we won! At least that’s how Paul Krugman sees it. But he’s playing tricks with the data and making assumptions that are meaningless in the real world. In this episode of the Friday Gold Wrap, host Mike Maharrey dissects Krugman’s claims in light of the September CPI […]

Hotter Than Expected CPI – A Recurring Theme

“Hotter than expected.” This seems to be a recurring theme when it comes to price inflation. The September CPI data gave us another variation on that tune. And it should once again remind us that the Federal Reserve is nowhere near its 2% target.

Don’t Rely on GDP

An important error in statistical analysis is that mathematical economists have lost sight of what their beloved statistics represent —none more so than with GDP. In this analysis, I explain why GDP is simply the total of accumulating currency and credit which is wrongly taken to reflect economic progress — there being no such thing […]

Resumption of Student Loan Repayments Stressing Already Stressed American Consumers

After a more than 3-year pause, government student loan repayments started again this month and it’s already putting the squeeze on borrower’s wallets. This is bad news for an economy already strained by massive levels of debt and rising interest rates. Interest accrual on student loans resumed on September 1 with the first payments coming […]

Bidenomics: National Debt Increases By Another Half-Trillion in Just 20 Days

Twenty days. That’s how long it took the Biden administration to add another half-trillion dollars to the national debt. Bidenomics certainly requires a lot of borrowing and spending.

Peter Schiff: The US Can’t Afford Peace, Much Less War

War broke out in the Middle East over the weekend after Hamas attacked Israel. In his podcast, Peter broke down the possible economic ramifications here in the United States. He said the US can’t afford peace, much less war.

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 […]