Peter's Blog

China Seeks to Steady the Yuan as Trump Takes Office

China’s central bank moved on multiple fronts this week and last in an effort to shore up its currency, the yuan, which has languished near a 16-month low relative to the dollar. Authorities announced plans to park more U.S. dollars in Hong Kong, increase offshore borrowing limits for companies, and cautioned investors against speculative activity. […]

Peter Schiff: Will Trump Achieve a Golden Age?

On Tuesday, Peter went live with analysis of this week’s major events. Most notably, he comments on Joe Biden’s controversial final acts as president and on Trump’s return to the Oval Office. He also analyzes the prospects for Trump’s second term and bashes the newly-inaugurated president for promoting a new cryptocurrency bearing his name.

Ending War by Ending the Fed: The Hidden Cost of Inflation

Critics of the Fed are well-versed in arguments against central banking. It enables reckless spending and creates monetary confusion, and it distorts prices for consumers. History also reveals another troubling result of central banking: more frequent and deadlier war.

Can Government Stimulus Truly Prevent Recessions?

Conventional wisdom says that the government can help (or is even required to) stimulate the economy, especially during a recession. As mounting evidence grows for a recession happening right now, it’s worth examining how this conventional wisdom is completely wrong and backwards. The government is typically the primary cause of recessions.

Gold Gets Boost From Dollar Instability, Faltering Bond Prices

In recent months, the financial landscape has witnessed a notable shift in the relationship between bond yields and gold prices. As bond yields falter and economic uncertainties loom, gold is once again emerging as an asset of stability for investors seeking refuge from market volatility. This resurgence of interest in gold reflects a broader trend […]

Jerome Powell Has a Dream: Control Inflation

A recent article in the New York Times is reassuring. It assures us that while the recent CPI print showed inflation was running hot, not to worry! When measured in terms of “core” inflation, which “gives us a better idea of the underlying trend,” inflation actually isn’t so bad. And that underlying trend requires that […]

Gold Rallies as December Inflation Prompts Unease

Gold futures soared on the back of yesterday’s December’s Consumer Price Index (CPI) data, climbing by $29.50 (1.10%) to settle at $2,722.60 for the most active February contract. The U.S. Bureau of Labor Statistics revealed that overall inflation rose 0.4% in December—exceeding November’s 0.3% pace and slightly above economists’ consensus of 0.3%. On an annual […]

Money Supply Growth Surges to 27-Month High Amid Inflation Concern

Today’s mainstream political narrative would have you believe that inflation is permanently cooling. The data tells a different story, with the money supply growing faster now than it has for more than the last two years.

Irresponsible Government Debt: The Catalyst for the Next Financial Crisis

History is replete with examples of major recessions that were ostensibly caused by mere asset bubbles, like subprime mortgages in 2008. The truth, however, is not so simple. In reality, these downturns are exacerbated and often triggered by disastrous government policy, namely excessive spending and the creation of perverse incentives.

If We Have a Strong Economy, Why Are Americans Struggling?

The 10-year treasury yield rocketed up to near 5%, and analysts say it’s because the economy is strong despite higher inflation. But if the economy is so strong, why are Americans so indebted, cash-poor, and desperate?