Peter's Blog

Inflation Isn’t a Supply Chain Problem; It’s a Money Problem

High inflation is the worst-kept secret out there, but the government, central bankers and financial media have all downplayed the threat. The folks at the Federal Reserve keep telling us that rising prices are “transitory,” the product of a robust and fast-moving post-pandemic economic recovery. One of the reasons often given for rising prices is […]

The Demise of the Dollar?

Last week, Russia announced plans to completely eliminate dollars and dollar-denominated assets from its sovereign wealth fund. Is this another sign of erosion of dollar dominance? The news from Russia dovetails with a warning by billionaire fund manager Stanley Druckenmiller that the dollar could cease to be the world’s reserve currency within the next 15 […]

The Worst-Kept Secret Ever: High Inflation Is Back

The Fed claims inflation isn’t a concern. The central bankers don’t want us to worry about it. In fact, they would just as soon keep the whole inflation issue a secret. But Americans are worried. Searches for the word “inflation” hit an all-time high on Google trends in May. In fact, inflation is the worst-kept […]

Slow Burn: SchiffGold Friday Gold Wrap Podcast June 4, 2021

With some positive economic data coming out this week, investors suddenly went bullish on the economy again and decided that the Fed is surely going to deal with inflation now. Will it though? In this Friday Gold Wrap Podcast episode, host Mike Maharrey speculates about the Fed’s next move. He also looks ahead and talks […]

The Biden Budget: Borrow and Spend to Infinity and Beyond

President Joe Biden released his 2022 budget this week. The $6 trillion spending plan offers a glimpse into Biden’s long-term fiscal strategy – borrow and spend to infinity and beyond. The Biden budget would take the US to its highest sustained spending levels since World War II. And here you thought the pandemic emergency was […]

Americans Are Worried About Inflation

If you’ve been to the grocery store, or the gas station, or the building supply store, you know we have an inflation problem. Last month’s hotter than expected CPI confirmed what we already intuitively know. But the folks over at the Federal Reserve continue to tell us there’s nothing to worry about. They insist inflation […]

Tennessee Will Explore the Possibility of a State Gold Depository

Last month, Tennessee Gov. Bill Lee signed a bill into law that creates a commission to study the feasibility of creating a gold bullion depository in the Volunteer State. A state bullion depository would not only create a safe place to store precious metals; it would increase the state’s financial independence. It could also facilitate […]

Traders Starting to Realize High Inflation is Bullish for Gold

For months, the markets have responded to inflationary pressures by piling into dollars and selling gold. They’ve taken this counterintuitive approach because they believe the Fed will tighten monetary policy to fight inflation sooner rather than later. But we’re starting to see a shift in sentiment. Traders seem to be realizing that inflation might be […]

Intervention Begets Intervention: SchiffGold Friday Gold Wrap Podcast May 28, 2021

The Fed wants us to believe everything is under control. The economy is improving. Inflation is transitory. Good times are ahead. But behind the scenes, central bankers and government officials are scrambling to keep all the economic props in place. As they intervene in one area of the economy, they create problems in another. In […]

Inflation Crashes the Party

It’s dawning on many investors that our post-Covid financial problems may not be as easily solved as Washington claims. The latest clue that trouble is brewing has come from the sudden and dramatic arrival of inflation. On May 12, it was revealed that the Consumer Price Index (CPI) had risen 4.2% year-over-year, the fastest pace […]