Peter's Blog

Comex Countdown: BofA House Strikes Back

An article earlier this month reviewed the massive volume of physical metal leaving the bank House accounts over the last two years. December 2021 finished the year off with a massive drawdown in House account inventories. While the drawdown continues across most accounts, Bank of America has tried to recoup some of the physical metal that […]

Perceptions: SchiffGold Friday Gold Wrap Jan. 21, 2022

It is often said that perception is reality. Politicians spend a tremendous amount of time and energy trying to shape perceptions. So, how does the average American perceive the US economy? In this episode of the Friday Gold Wrap, host Mike Maharrey talks about economic perceptions – both those the politicians are trying to create […]

Last Month Proves to Be an Outlier – Metal is Leaving Comex Vaults Again

Last month, we saw a small increase in metal stored in COMEX vaults, but that turned out to be a blip in the trend. Metal is leaving the COMEX vaults again. This analysis focuses on gold and silver within the Comex/CME futures exchange. See the article What is the Comex? for more detail. The charts and tables […]

Peter Schiff: The Fed Made This Bed and Now We Have to Lie In It

Inflation is running hot. Economic data is running cold. Stocks and bonds are under pressure. The Fed is scrambling. In his podcast, Peter Schiff talked about the trajectory of the economy. He said we’re on the cusp of the most obvious crisis that virtually nobody saw coming. The Federal Reserve made this bed. Now we […]

Could Gold Shine in 2022 Despite the Fed’s Proposed Inflation Fight?

Despite an inflationary freight train, gold struggled to gain ground in 2021 as the markets fixated on the Federal Reserve and the possibility of tighter monetary policy to fight inflation. Will gold continue to fight headwinds in 2022 as the Fed launches its “inflation fight,” raises rates and possibly begins to shrink its balance sheet? […]

Hopes and Prayers Economic Policy: SchiffGold Friday Gold Wrap Jan. 14, 2022

December gave us another big jump in consumer prices. But despite a lot of talk about an inflation war, accommodative monetary policy remains in play. In this episode of the Friday Gold Wrap podcast, host Mike Maharrey breaks down the CPI data, Jerome Powell’s Senate testimony, and Joe Biden’s plan to fix rising meat prices. […]

Can the Deficit Fall Below $1 Trillion in 2022?

In the calendar year 2021, federal tax revenues surged by an incredible 25% compared to 2020 and were up 22.8% over 2019 (pre-COVID). But the surge in tax revenues was not enough to overcome a record $6.8 trillion in spending, breaking the spending record set in 2020 by 1.6%.

Is Omicron Hiding Much Higher Inflation?

The CPI for December was 0.5% month over month, with a non-seasonally adjusted annual rate of 7.0%. As the chart below shows, the December data reinforced a downward trend we’ve seen since a .95% reading in October. But is the recent omicron COVID spike hiding much higher inflation?

Peter Schiff: The Inflation Freight Train

December Consumer Price Index data came out on Wednesday (Jan. 12). Month-on-month, it was again even hotter than expected. Peter called it an inflationary freight train that the Fed’s “field of dreams” monetary policy will not stop. “Transitory” inflation has now been running hot for a full year.

Peter Schiff: The REAL Reason Gold Hasn’t Gone Up and Why It Ultimately Will

Inflation in the US is at historically high levels. So, why hasn’t gold taken off? We hear this question over and over again. In this video, Peter Schiff answers this question and explains why the markets will eventually wake up to their misperception.