Peter's Blog

Gold Touches Record Territory and It’s Not Just Russia

Gold pushed above $2,000 an ounce on Tuesday and made a run at the all-time record high. The yellow metal was up $54 on the day, closing at $2,052 despite some selling after it nudged the all-time high. Some of this is clearly safe-haven buying due to the situation in Russia, and a lot of […]

Who Cares About the Trade Deficit? We All Should

The trade deficit shattered records in 2021. Things didn’t slow down any as we rolled into 2022. The January trade deficit hit another all-time record high. But nobody really seems to care. We should.

Less for More: SchiffGold Friday Gold Wrap March 4, 2022

You’re getting less for more every time you pull out your wallet. Inflation is chewing up the average person’s paycheck. In this episode of the Friday Gold Wrap podcast, host Mike Maharrey talks about the real pain of inflation. He also talks about Jerome Powell’s testimony before Congress, the trajectory of monetary policy, the strength […]

Inflation Continues to Chew Up Your Paycheck

Inflation continues to chew up your paycheck. While consumer prices rose 0.7% in January, income from all sources, including wages, salaries, interest dividends, rental income, unemployment, Social Security, etc. was essentially flat. And when adjusted for inflation, real personal income fell by 0.5%.

Stagflation Warning: Atlanta Fed Cuts Q1 GDP Projection to Zero

On Tuesday, the Atlanta Fed cut its GDP estimate for the first quarter of 2022 to zero. Just a few days ago, the estimate was for 0.6% growth. That was down from 1.3% just a few days before that. This is not an encouraging trend.

Peter Schiff: Russia Is the New “Excuse Variant” for the Fed

The Russian invasion of Ukraine has completely changed the market dynamics. In his podcast, Peter talked about the impact the situation is having on the markets and the global economy. He also looked ahead, saying Russia can now serve as a convenient excuse for the Fed to back off its planned monetary tightening. Of course, […]

Myth Busting! SchiffGold Friday Gold Wrap Feb. 25, 2022

You’ve probably heard people say inflation is being caused by “greedy corporations.”  They back up this increasingly popular narrative with tales of “excessive corporate profits.” In this episode of the Friday Gold Wrap, host Mike Maharrey busts this myth. He also talks about the wild ride in the gold and silver markets after Russia invaded […]

“Greedy” Corporations Are Causing Inflation! Or Are They?

Greedy corporations are causing inflation by jacking up prices and enjoying record profits. This has become an increasingly popular talking point on the political left. Elizabeth Warren has pushed this narrative hard. And it’s patently absurd.

Ron Paul: The Fed Is the Enemy of American Workers

Inflation is smoking hot. As measured by the consumer price index, the inflation rate is at 7.5%. And the cooked government CPI number understates inflation. Peter Schiff says the inflation tsunami is just getting started. The Fed is talking about an inflation fight, but it’s more likely to drive the US economy into a recession. […]

Peter Schiff: The Fed Inflation Fight Will Cause a Recession — And More Inflation

The markets seem to be anticipating a Fed inflation fight. They also seem to be realizing that this is going to cause a recession. But they still haven’t come to grips with the fact that this is not going to fix the inflation problem. In his podcast, Peter Schiff argues that the recession will actually […]