Peter's Blog

Writing Checks They Can’t Cash: SchiffGold Friday Gold Wrap July 8, 2022

The Federal Reserve is putting on quite the tough guy act. Everybody is convinced the central bank is going to keep up the inflation fight even if the economy gets shaky. In this episode of the Friday Gold Wrap podcast, host Mike Maharrey talks about the Fed’s hawkish messaging and wonders out loud if the […]

How Long Will the Fed Hawks Keep Flying?

After the June FOMC meeting and the Fed’s 75- basis point interest rate hike, I argued that the central bank is totally winging it. Reading between the lines in the minutes from that June meeting seems to bear this out. The Fed appears to be in reaction mode. The question becomes what will it react […]

Atlanta Fed Forecasts Official Recession With Negative GDP Growth in Q2

On July 1, the Federal Reserve Bank of Atlanta lowered its Q2 GDP projection to -2.1%, officially forecasting a recession. So, much for Jerome Powell’s “soft landing.”

Gazing Into a Hazy Crystal Ball: SchiffGold Friday Gold Wrap July 1, 2022

Federal Reserve Chairman Jerome Powell continues to insist that the economy is strong enough to withstand tighter monetary policy to fight inflation. But the economy seems to be saying otherwise. So, how will this play out? In this week’s Friday Gold Wrap podcast, host Mike Maharrey gazes into his crystal ball and speculates about what […]

Money Supply Growth Slows Enough to Pop Everything Bubble; Not Enough to Cure Inflation

According to the seasonally adjusted data, M2 increased by $23B in May. Except for the contraction last month (the first contraction in 12 years), it was the smallest monthly increase in M2 since the start of COVID.

Rick Rule: Fed Will “Chicken Out” on Inflation Fight

Well-known investment advisor Rick Rule said the Fed will chicken out on its inflation fight. Rule runs Rule Investment Media and formerly served as the president and CEO of Sprott US Holdings Inc. In a recent interview, Rule said that the Fed could get inflation under control with significantly tighter monetary policy for a sustained […]

Zimbabwe Central Bank to Offer Gold Coins as Inflation Ravages the Country

The Reserve Bank of Zimbabwe plans to issue gold coins as a way for investors in the country to store value as inflation runs rampant in the economy. The United States isn’t the only country battling rapidly rising prices. The inflation rate in Zimbabwe spiked from 132% in May to 191.6% in June, and the […]

Goldman Sachs Raises 2022 Gold Price Target to $2,500

Goldman Sachs sees a big upside in gold raising its target price to $2,500 an ounce by the end of the year. The investment bank cites recession worries and persistent inflation as reasons to be bullish on gold.

Dumping Water on a Drowning Man: SchiffGold Friday Gold Wrap June 24, 2022

They tried to deny it for months, but now everybody knows we have an inflation problem. The president, Congress and all of the central bankers at the Fed are trying to find ways to solve this problem. But as host Mike Maharrey explains in this episode of the Friday Gold Wrap, all of their solutions […]

Ron Paul: Fed Rate Increase too Little too Late

After a weak swipe at inflation at its May meeting, the Federal Reserve delivered the biggest rate hike since 1994 at its June FOMC gathering. But is it enough to tackle persistently red-hot inflation? Ron Paul doesn’t think so. He notes that the recent rate hikes have only raised rates to the level they were […]