Peter's Blog

Economics Always Wins in the End: SchiffGold Friday Gold Wrap Sept. 30

With a hurricane barreling toward his home, Friday Gold Wrap podcast host Mike Maharrey called an audible and recorded this week’s show ahead of time. And since the hurricane is in the news, as well as top-of-mind for his family, he uses it as a jumping-off point to talk about some economics including the concept […]

This Looks a Lot Like the Dot-Com Bust With One Big Difference — Inflation

This is starting to look a lot like the popping of the dot-com bubble with one big difference — inflation. Beginning in mid-June, we saw a significant bear market rally in stocks. But the recent declines have wiped out those gains and more. For instance, the Dow jumped 14% during the 2-month rally. By the […]

Gold Is One of the Best Performing Assets of 2022

Given historically high inflation, why haven’t we seen a big rally in gold and silver? There are a number of factors that have weighed on precious metals, but as the World Gold Council points out, it’s important to put gold and silver’s recent price movements in a broader perspective. In fact, gold has been one […]

Peter Schiff: Jerome Powell Still Thinks He Can Pull Off the Impossible

Last week the Fed raised interest rates another 75 basis points and continued to insist it was fully committed to doing whatever it takes to bring inflation back down to 2%. In his podcast, Peter argued that Powell still thinks he can pull off the impossible. He can’t.

Peter Schiff: Biden Putting America at Risk to Prop Up His Own Image

Even as the August inflation data was coming out higher than expected, President Joe Biden was bragging about his “Inflation Reduction Act.” Peter Schiff appeared on NewsMax and argued that the president is putting Americans at risk just so he can improve his image as we approach election time.

Feel the Pain! SchiffGold Friday Gold Wrap Sept. 23, 2022

The September Federal Reserve meeting wrapped up this week with another 75 basis point rate hike. And Fed Chairman Jerome Powell admitted that there is going to be some pain as the central bank continues to fight inflation. In this episode of the Friday Gold Wrap podcast, host Mike Maharrey reacts to the meeting and […]

Fed Policy in a Nutshell: Live in Hope; Die in Despair

During his post- FOMC meeting press conference, Federal Reserve Chairman Jerome Powell said, “Hope for the best; plan for the worst.” I think he meant, “Live in hope; die in despair.”

Atlanta Fed Lowers Q3 GDP Growth Forecast Close to Zero

The Atlanta Fed has lowered its GDP estimate for the third quarter to 0.3%, and the trend is downward. That means the economy is teetering on the verge of another quarter of negative GDP growth. Would that be enough to raise recession alarms?

Retail Sales Headline Reveals Mainstream Cluelessness About Inflation

When it comes to the economy, inflation, and the Federal Reserve, the mainstream just doesn’t get it. This headline from Fox Business reveals the level of confusion. “Retail sales unexpectedly edge higher in August despite soaring inflation” [Emphasis added]

A “Silver” Lining in the Metals Market: Silver Rally Could Bode Well for Both Gold and Silver

While gold dropped last week, silver rallied. Peter Schiff called it a “silver lining” that could indicate we’re near the bottom in the precious metals dip. Gold and silver have sold off with every inflation surprise to the upside. The markets think persistent inflation means the Fed will get even more aggressive with rate hikes. […]