Peter's Blog

That’s One Heck of a Drug! SchiffGold Friday Gold Wrap Dec. 22, 2023

US stocks surged with the promise of interest rate cuts. Then stocks tanked when some Fed officials tried to walk that promise back. Then they surged again when some weak economic data put rate cuts back on the table. As Friday Gold Wrap host Mike Maharrey put it, easy money is one heck of a […]

Biden and the Media Are Gaslighting Us About Inflation

The Federal Reserve and the US government create inflation and then blame everybody else. President Joe Biden recently finger-pointed at “greedy corporations,” saying they need to “lower prices” now that inflation come down. Whether he is really that ignorant or just lying, Biden’s comments serve a purpose. As Ron Paul put it, they gaslight the […]

Peter Schiff: Bidenomics Is Putting Lipstick on a Pig

Peter Schiff recently appeared on Real America with Dan Ball to talk about the state of the US economy. He described it as a disaster and said Bidenomics consists of putting lipstick on a pig.

Peter Schiff: Fed Tries to Temper Rate Cut Enthusiasm

After the Federal Reserve effectively surrendered to inflation at its December meeting, projecting three rate cuts next year, New York Fed President John Williams tried to walk the surrender back. In his podcast, Peter Schiff analyzed Williams’ more hawkish comments and compared them to Powell’s dovish stance after the FOMC meeting. Williams said, “We aren’t […]

What a Difference Two Weeks Makes! SchiffGold Friday Gold Wrap Dec. 15, 2023

Two weeks ago, Federal Reserve Chairman Jerome Powell said it would be “premature” to conclude that monetary policy is sufficiently restrictive. This week, the Fed indicated rate cuts are on tap for next year. What a difference two weeks makes! In this episode of the Friday Gold Wrap, host Mike Maharrey breaks down this week’s […]

The Fed Surrenders to Inflation!

The Federal Reserve just surrendered to inflation. Fed officials won’t call it a surrender. They’re claiming victory. But surrender is the effect of the policy trajectory laid out by the Federal Open Market Committee (FOMC) at its December meeting.

Inflation in Real Life Much Worse Than in Government Fantasy World

Inflation is dead! At least that’s what you would think if you listen to government officials and talking heads in the financial media. So, how is this victory over inflation working out for the average person? Not so great.

Plenty of Hype for a So-So CPI Report

Why do virtually all the mainstream pundits think the Federal Reserve has won the inflation fight? Maybe it’s just wishful thinking. They want the Fed to win so it can go back to what it does best – creating more inflation with artificially low interest rates and quantitative easing. Regardless, most of the mainstream punditry […]

Jim Grant: We’ve Yet to Feel the Full Consequences of the “Era of Free Money”

In a recent interview with Forbes, economic commentator and historian Jim Grant warned that we haven’t fully felt the inevitable fallout from the “free money era.” I think that the consequences of more or less 10 years of proverbially free money are going to play out in the credit markets.”

Peter Schiff: Joe Biden Doesn’t Have Anything to Take Credit For

Most mainstream pundits characterized the November jobs report as a “Goldilocks” report. Job growth was strong enough to support the “soft landing” narrative but not so strong it might scare the Fed into raising interest rates again. President Joe Biden used the report to boast about his economic achievements. But according to Peter Schiff, Biden […]