Peter's Blog

The Fed Hit the Panic Button and It’s Making Things Worse

Stock markets have been getting hammered, ostensibly because of the economic impacts of the coronavirus. Peter Schiff has been saying this isn’t really about the virus. It was the pin that pricked the bubble. If it wasn’t coronavirus, it would have been something else. Regardless, the Fed hit the panic button last week and slashed […]

Peter Schiff: They Can’t See the Bubble for the Pin

Government officials and central bankers are in full-blown panic mode. Stocks crashed again Monday. The Dow Jones was down over 2,000 points, a 7.8% drop. It was the 11th biggest percentage drop in history. The S&P 500 and Nasdaq were also down over 7%. This time oil was the apparent catalyst for the selloff as […]

Peter Schiff: Governments Just Make a Bad Situation Worse

Last week was a rollercoaster ride on Wall Street. In the midst of market madness, Peter Schiff appeared on RT Boom Bust to talk about a range of subjects from the Fed’s move to cut rates, to coronavirus, to the impact of Super Tuesday and presidential politics on the markets, to government ineptitude. He started […]

Rate Cut and Market Madness: SchiffGold Friday Gold Wrap March 6

It’s been a roller-coaster ride on Wall Steet. Stocks whipsawed up and down — mostly down. Gold dipped and then rebounded. And the Fed cut rates in a move that looked an awful lot like a replay of 2008. In this episode of the Friday Gold Wrap podcast, host Mike Maharrey gives an overview of […]

Peter Schiff: They’re Going to Need a Bigger Rate Cut!

Stop and pause for a moment and think about what just happened. The Federal Reserve says the US economy is strong, but it just initiated emergency monetary policy last seen during the worst financial crisis since the Great Depression. Something doesn’t add up. The Fed cut rates 50 basis points on Tuesday. It was the […]

Peter Schiff: Fed Stimulus Overdose Will Propel Gold to New Highs

After the worst week since 2008, the stock market rallied on Monday on the hope of central bank stimulus. In his March 2 podcast, Peter Schiff said he doesn’t think the Fed’s easy money can keep the air in the stock market bubble. But the stimulus overdose will likely propel gold to new highs.

Subprime Credit Card Delinquencies Soar

Last week, we told you about the rising level of subprime auto loan delinquencies. Well, there is a similar thing happening in the subprime credit card market. Is this the proverbial canary in a coal mine?

Something Is Out of Kilter: Friday Gold Wrap Podcast Feb. 14, 2020

Jerome Powell went to Capitol Hill this week. During his testimony before a congressional committee, the Fed chair insisted, “There is nothing about this economy that is out of kilter or imbalanced.” In this episode of the Friday Gold Wrap Podcast, host Mike Maharrey takes issue with Powell’s assessment and points out some things that […]

Peter Schiff: Nobody Should Be Taking Credit for the US Economy

Last week, Peter Schiff gave a speech at the Orlando Money Show and made the case that all the hype about the greatest economy in history is just that – hype. Nobody should be taking credit for the economy. We should be asking who is to blame.

Macy’s Puts a Face on Retailers’ Pain

Macy’s department store has announced plans to close 125 stores and cut around 2,000 corporate employees. Along with the store closures, the company will shutter its Cincinnati headquarters and tech offices in San Francisco. Even with the cuts, sales projections for the next three years “look abysmal.” According to CNBC,  same-store sales, on an owned […]