Peter's Blog

A Black Swan With Teeth

For years, I have been warning that during the age of permanent stimulus (which began in earnest with the Federal Reserve’s reaction to the dotcom crash of 2000), each successive economic contraction would have to be met with ever larger, increasingly ineffective, doses of monetary and fiscal stimulus to keep the economy from spiraling into […]

Peter Schiff: The Fed Won’t Get Away With It This Time

The Federal Reserve and the US government are rerunning the exact same policies they turned to in the wake of the 2008 financial crisis, but on a much grander scale. We have bigger QE, more money printing, more government spending and bigger deficits. During his podcast, Peter Schiff said it was a mistake then, but […]

The Economy Isn’t Just Dollars: Friday Gold Wrap May 22, 2020

Jerome Powell went on 60 Minutes last week and said there was “no limit” to what the Fed could do to support the economy. Of course, that’s not really true. All the central bank can really do is print more dollars. And the economy isn’t just about dollars. It’s about stuff. In this episode of […]

Peter Schiff: You Need to Vaccinate Your Portfolio Against Inflation

Earlier in the week, gold sold off on the announcement that initial trials on a coronavirus vaccine looked promising and on Thursday, gold was selling because, as CNBC put it, the yellow metal was “pressured by hopes of a swift recovery from the coronavirus-driven recession.” During a recent podcast, Peter Schiff said this just goes […]

Why Should We Care About Negative Interest Rates?

Are negative interest rates in our future? Jerome Powell says absolutely not. But Jerome Powell also once said balance sheet reduction was on autopilot and that the Federal Reserve wasn’t going to cut interest rates. What the Fed chair says today doesn’t necessarily line up with what the Fed chair does tomorrow. In fact, the […]

Peter Schiff: People Will Be Wiped Out By the Inflation Tax

The printing presses are running at full speed as the Federal Reserve creates money out of thin air at an unprecedented rate. Peter Schiff recently appeared on Kitco News to talk about the impact of all money-printing, borrowing and government spending. Somebody has to pay for this and we all will. In fact, a lot […]

QE Infinity: Money Supply Grew at Record Rate in April

The money supply growth rate surged to an all-time high in April as the Federal Reserve created cash at an unprecedented rate through quantitative easing and other money-creating monetary policies. According to Ryan McMaken at the Mises Institute, the only time the Fed has come close to this level of money creation was in the […]

Peter Schiff: It’s Not a Crisis Until It Becomes One

Despite Fed Chair Jerome Powell throwing cold water on the prospect of a quick economic recovery last week, there is still a lot of optimism out there. There is also an appalling lack of concern about all of the debt and money printing going on. In a recent podcast, Peter said nobody expects this to […]

The Arsonists Are Fighting the Fire: SchiffGold Friday Gold Wrap May 15

Federal Reserve Chairman Jerome Powell dumped cold water on the notion that we’re going to have a quick recovery during a speech this week and begged Congress for more fiscal stimulus. As Friday Gold Wrap host Mike Maharrey put it, Powell and the federal government are the arsonists trying to fight the fire they started. […]

Fed Chair Powell’s Solution Is the Root of the Problem

Federal Reserve Chairman Jerome Powell went negative in a webcast speech on Wednesday, May 13. I’m not talking about negative interest rates, although that could be coming down the pike as well. Powell went negative on the prospects of a quick economic recovery. He’s right about the prospects for the economy, but he’s wrong about the […]