Peter's Blog

A Matter of Control: SchiffGold Friday Gold Wrap March 10, 2023

There has been a lot of talk about central bank digital currencies (CBDCs) lately. Supporters tell you they will provide a safe, secure, convenient alternative to cash. But in this episode of the Friday Gold Wrap, host Mike Maharrey digs deeper and explains that CBDCs are actually about more government control. He also talks about […]

Odds the Fed Is About to Trigger the Next Bust Are Rising

During testimony on Capitol Hill, Federal Reserve Chairman Jerome Powell said the central bank may have to raise interest rates higher than previously expected to bring down price inflation. Despite the speed of Fed hiking and the enormous amount of debt in the US economy, most people in the mainstream seem convinced the central bank […]

India’s Oil Deals With Russia Further Erodes Petrodollar Dominance

Every government policy has consequences – some intended and some unintended. There is at least one serious unintended consequence of the economic sanctions levied against Russia after its invasion of Ukraine – an erosion of the US dollar dominance.

Credit Card Borrowing Spiked in January Even as Big-Ticket Spending Slowed

In January, retail sales came in much hotter than expected. Now we know how consumers paid for the spending spree. They put it on credit cards. After slowing modestly in December, growth in revolving debt spiked again in January. But a slowdown in non-revolving credit moderated the overall increase in consumer debt. Overall, this signals […]

Jerome Powell Performs Open-Mouth Operations; Markets Tank

Federal Reserve Chairman Jerome Powell performed some “open mouth operations” on Capitol Hill Tuesday. Powell talked and the markets freaked out.

Peter Schiff: All Roads Lead to Hard Landing and Higher Inflation

The markets still seem to believe the Federal Reserve can ratchet price inflation back down to 2% while bringing the economy to a relatively soft landing. In his podcast, Peter Schiff throws cold water on this hopeful narrative. He goes through the economic data that came out last week shows that all roads appear to […]

Three Reasons the Fed Will Lose the Inflation Fight: SchiffGold Friday Gold Wrap March 3, 2023

Despite the hotter-than-expected CPI data for January, most people still seem confident that the Federal Reserve can win the inflation fight, drive CPI back to 2% in relatively short order, and then return to the easy monetary policy we all have come to expect. Friday Gold Wrap host Mike Maharrey does not share this optimism. […]

Ron Paul: Waiters and Waitresses Hit By Double Whammy of Inflation and the Taxman

While price inflation has eased modestly from its peak, Americans are still dealing with rapidly increasing prices, and that is squeezing their pocketbooks. And of course, the pain falls disproportionately on the working poor and people living on fixed incomes. As Ron Paul explains, rising prices and a more aggressive IRS mean servers in the […]

Money Supply Remains Well Below Trend

The seasonally adjusted money supply in January increased by $31 billion. This was the first increase in the money supply in five months.

Recession Warning Sign: Consumer Confidence Falls Again in February

Joe Biden might be confident in the US economy. Federal Reserve Chairman Jerome Powell might be confident about the US economy. But the average American? Not so much. The Conference Board Consumer Confidence Index fell for the second straight month in February, dropping from a downwardly revised 106.0 in January to 102.9.