Peter's Blog

Peter Schiff: This Story Will Have a Tragic Ending

After the August CPI report showed price inflation heating up again thanks to rising gasoline prices, Peter Schiff appeared with Jesse Kelly on First TV to answer the question: where are we heading? Peter said this story is going to have a tragic ending.

Slow Burn: SchiffGold Friday Gold Wrap Podcast Sept. 15, 2023

The economy is in a slow burn. You can’t even see the flames. But you can smell whiffs of smoke every now and then if you’re paying attention. In this episode of the Friday Gold Wrap, host Mike Maharrey calls attention to that smoke with a breakdown of August’s CPI  and some other data that […]

Currency Wars Versus Gold Standards

Russia and the Saudis are driving up oil and diesel prices. But these moves are likely to undermine the rouble more than they undermine the dollar, euro, and other major currencies. Therefore, higher energy prices will rebound on the Russians this winter: if they shiver in Germany, they will freeze in Russia. If the dollar […]

US Government Runs Budget Surplus in August But It’s Not Really Good News

The federal government charted a surprising budget surplus in August. But don’t be fooled. The feds didn’t miraculously fix their deficit problem. The Biden administration continued to spend money at an unsustainable pace last month. The surplus was merely a function of the reversal of student loan forgiveness.

CPI Spiked Again in August Throwing Cold Water on Disinflation Narrative

About that disinflation… It was transitory. As we predicted, a jump in gasoline prices helped drive the August Consumer Price Index (CPI) higher, throwing cold water on the disinflation narrative.

The Federal Reserve Is Losing Money and You’re Going to Foot the Bill

The Federal Reserve is losing money. That means the American taxpayer is losing money. In most instances, a business bleeding red ink has a big problem and could ultimately go under. Not so for the Fed. In fact, losing money isn’t a problem for the central bank at all. But it is a big problem […]

Peter Schiff: Fed Money Magicians Running Out of Rabbits

Most people think everything is fine. The Fed is getting inflation under control and soon they’ll be able to cut interest rates, keeping the economy from falling into a deep recession. In his podcast, Peter Schiff poured cold water on this narrative. He explains why the Fed won’t be able to repeat the magic it […]

Silver Whipsawed

Gold and silver prices fell this week in light trade, with US markets closed on Monday for Labor Day. In European trade this morning, gold was at $1925, down $15 from last Friday’s close, and silver was at $23.05, down $1.10.

Fed Up! SchiffGold Friday Gold Wrap Sept. 8, 2023

We’re fed up — fed up with the Federal Reserve. After all, it is the engine that drives the biggest government in history. In this episode of the Friday Gold Wrap, host Mike Maharrey explains what the Fed is, how it came to be, and how it enables reckless government borrowing and spending. He also […]

Say’s Law Says It All

As the world descends into a much-heralded recession, the surprise will be that interest rates will continue to rise as economic activity contracts. This is not what the economic establishment expects. This article puts the outlook in the context of classical economic theory, when it was the principles behind the division of labour which went […]