Peter's Blog

World Bank: Global Economic Growth Expected to Slow to 2008 Levels

Most people in the mainstream concede that the economy is heading for a recession, but the consensus seems to be that downturn will be short and shallow. Projections by the World Bank undercut that optimism. According to the World Bank, global growth in 2023 will slow to the lowest level since the 2008 financial crisis.

What Central Banks Giveth They Taketh Away; Wave of Corporate Defaults on the Horizon

With a debt ceiling deal done, the threat of a US government default is off the table for the time being. But a wave of corporate defaults is on the horizon according to Deutsche Bank’s annual default study. This is the inevitable consequence of central bank monetary policy and it was entirely predictable.

A Premium Episode: SchiffGold Friday Gold Wrap June 2, 2023

If you buy gold or silver, you’re going to pay a premium. So, what exactly is a premium and how is it determined? In this episode of the Friday Gold Wrap, host Mike Maharrey answers common questions about premiums. He also discusses the debt ceiling deal and reveals where Americans rank gold as a long-term […]

When the Solution Becomes the Problem: SchiffGold Friday Gold Wrap May 26, 2023

The debt ceiling “crisis” is coming to a head.  We’re pretty confident Republicans and Democrats will strike a deal and raise the debt ceiling. That’s supposed to solve the problem. But Friday Gold Wrap podcast host Mike Maharrey says the solution is the problem. In this episode, he also offers some bullish perspective on silver.

The Real Problem Begins After Congress Raises the Debt Ceiling

The debt ceiling fight is getting down to the wire. In a letter to Congress on Monday, Treasury Secretary Janet Yellen said that without a debt ceiling increase, it was highly likely the government wouldn’t be able to meet all of its obligations by “early June, and potentially as early as June 1.” Despite the […]

Bernanke and Powell: A Lot of Finger-Pointing but No Self-Reflection

Federal Reserve Chairman Jerome Powell and former chair Ben Bernanke recently fielded questions together at the annual Thomas Laubach Research Conference put on by the central bank. They engaged in a lot of finger-pointing but didn’t offer a hint of self-reflection as they discussed inflation and the state of the economy.

What Are the Markets Getting Wrong?

We’ve talked about the recent selloff in gold. On the other side of the coin, the NASDAQ has made a string of 52-week highs. What is driving these market dynamics? The Fed. The markets generally believe that the Federal Reserve is finished hiking interest rates, or at least close enough to being done that a […]

Peter Schiff: The Fed Is Losing the Inflation Fight

We saw a big selloff in the gold market last week and the price dropped below $2,000 an ounce. The catalyst for that selloff was tough talk from several Federal Reserve officials and an increasing expectation that the central bank will raise rates again in June. As Peter Schiff explained in his podcast, everybody thinks […]

Who Cares? SchiffGold Friday Gold Wrap May 19, 2023

There are a few things that Friday Gold Wrap host Mike Maharrey writes about that don’t seem to garner much interest. In this show, Mike is going to talk about two of those things, why they matter, and why you should care. He also talks about the recent drop in the price of gold and […]

Talk Is Cheap; What Will the Fed Actually Do?

Gold had dropped by over $100 in the last two weeks. Meanwhile, the dollar rose to a 7-week high on May 17. If you’re thinking that this looks a lot like how gold and the dollar moved at the height of the Federal Reserve’s inflation fight, you’re right. That’s because the central bankers at the […]