Peter's Blog

Many Countries Bringing Their Gold Home for Safekeeping

In the wake of Western sanctions on Russia after the invasion of Ukraine, many central banks are bringing their gold home for safekeeping, according to an Invesco survey of central banks and sovereign wealth funds.

Credit Card Borrowing Still Running Hot Even as Borrowing for Big-Ticket Items Tanks

Americans continued to run up credit card debt in May, but borrowing for big-ticket items tanked. This could indicate that cash-strapped, over-leveraged consumers are reaching the end of the rope. American consumers borrowed another $7.2 billion in May, increasing total consumer debt to a record $4.865 trillion, according to the latest data released by the […]

Peter Schiff: Bond Bear Will Maul Stocks and the Dollars

Stocks and bonds had a tough week last week. In his podcast, Peter Schiff talked about the market moves in the context of Fed rhetoric and the jobs reports. He concluded that we could be heading toward another big leg down in bonds, and this bond bear will maul stocks and the dollar.

The Federal Reserve Should Invest in a Dartboard

Most people believe members of the Federal Reserve are highly trained experts who are imminently qualified to run monetary policy.  Guided by this perception, the mainstream treats Fed pronouncements as gospel. But if you compare Fed projections to actual outcomes, it looks like they’re just guessing. In fact, you would probably get more accurate results […]

Fed People Saying Stuff: SchiffGold Friday Gold Wrap July 7, 2023

Despite doing nothing at the June meeting, Federal Reserve officials continue to talk tough about fighting inflation. The anticipation of another rate hike created headwinds for both stocks and gold this week. But Friday Gold Wrap host Mike Maharrey thinks something is amiss. In this episode, he talks about the disconnect between the central bankers’ […]

Peter Schiff: A Bear Market Rally and the Supreme Court Trumps Biden

June continued a stock market rally that produced big gains through the first half of the year. But what exactly is driving this rally and is it really justified by the economic fundamentals? Peter breaks it down in a recent podcast and concludes that this is likely a bear market rally.

Things Happen Slowly and Then All at Once: SchiffGold Friday Gold Wrap Podcast June 30, 2023

There was a lot of economic data this month that seems to signal a strong economy. Does it though? Is everything really fine? In this episode of the Friday Gold Wrap, host Mike Maharrey digs deeper into the data and reveals a less sanguine reality. He also explains the inner workings of the spot price […]

What’s Going on With the Fed Balance Sheet?

We tend to focus a lot on the Federal Reserve’s interest rate policy, while the central bank’s balance sheet stays in the background. But the balance sheet arguably has more impact on the economy over the long run. Since the Fed began hiking interest rates in March 2022, it has also shrunk the balance sheet. […]

All You Do to Me Is Talk Talk: SchiffGold Friday Gold Wrap June 23, 2023

Fed Chair Jerome Powell went to Capitol Hill this week and talked. His open-mouth operations dominated the financial news and drove gold lower. In this episode of the Friday Gold Wrap, host Mike Maharrey digs into Powell’s comments, reads between the lines, and points out a couple of things Powell got completely wrong. He also […]

Jerome Powell’s Open-Mouth Operations

Federal Reserve Chairman Jerome Powell testified before the House Financial Services Committee on Wednesday (June 21). The Fed chief engaged in some more open-mouth operations, trying to guide monetary policy with words instead of actions. To understand a few things he said, you have to read between the lines. Oh, and he also got at […]