Peter's Blog

Confidence Level Is Low! SchiffGold Friday Gold Wrap Nov. 3, 2023

Federal Reserve Chairman Jerome Powell said he’s not confident interest rates are high enough to slay price inflation. He also said he’s not confident they aren’t. In this episode of the Friday Gold Wrap podcast, host Mike Maharrey wonders out loud why we should have any confidence if Powell doesn’t. Along the way, he breaks […]

The Future for Fiat

The day of reckoning for unproductive credit is in sight. With G7 national finances spiraling out of control, debt traps are being sprung on all of them, with the sole exception of Germany.

Fed Keeps Its Finger on the Pause Button

Chalk one up for the status quo. As expected, the Federal Reserve held interest rates steady in a range between 5.25 and 5.5% for the second straight FOMV meeting, and chairman Jerome Powell was intentionally noncommital about future Fed moves.

Japan’s Slow-Motion Train Wreck

Japan is in the midst of a slow-motion train wreck. The country has a massive national debt and it is starting to feel the pressure of rising interest rates. In his podcast, Peter Schiff talked about the situation in Japan and pointed out some disturbing parallels to what’s happening in the US.

Navigating By Stars on a Cloudy Night: SchiffGold Friday Gold Wrap Oct. 27, 2023

When it comes to economic data, context matters. In this episode of the Friday Gold Wrap, host Mike Maharrey explains how the Fed, many mainstream economists, and financial network talking heads get a lot wrong because of bad data, shoddy economic frameworks, and ignorance of history. Along the way, he covers the GDP and the […]

Jim Grant: The Fed Needs Some Grounding in Financial History and Common Sense

Will the Federal Reserve raise interest rates again? Or is this hiking cycle over? Will it really hold rates higher longer, or will it cut in the near future? Everybody in the financial world is trying to predict the central bank’s next move. Fed members insist they are data-dependent and will go where the numbers […]

Biden Administration Runs Third-Largest Budget Deficit in US History

The Biden administration ran a $1.695 trillion budget deficit in fiscal 2023. It was the third-largest deficit in US history. The only time the US government ran bigger deficits was during the COVID years of 2020 and 2021. The government closed out the year with a $170.98 billion deficit in September, according to the final […]

Peter Schiff: This Is the Most Obvious Financial Crisis That Nobody Sees Coming

The mainstream continues to insist that the economy is fine. Inflation is beat. A soft landing is in play. But in his podcast, Peter Schiff said we’re in the early stages of a financial crisis. It should be obvious, but very few people see it coming.

The Illusion of Prosperity: SchiffGold Friday Gold Wrap Oct. 20, 2023

The economy is strong. The American consumer is resilient. Everything is great. At least that’s the mainstream narrative. In this episode of the Friday Gold Wrap podcast, host Mike Maharrey explains why it’s all just an illusion of prosperity. Along the way, he covers the September retail sales data, Federal Reserve Chairman Jerome Powell’s speech […]

Cracking Commercial Real Estate Market Stressing Banks

Problems in the commercial real estate  (CRE) sector continue to bubble under the surface. This is a major stress point for US banks and could precipitate the next phase of the financial crisis. A combination of high interest rates and declining tenancy is putting the squeeze on commercial real estate owners. As a result, banks […]