Peter's Blog

Air Is Hissing Out of the Housing Bubble at an Accelerating Pace

Air is hissing out of the housing bubble faster and faster every week. Pending sales plunged in June and the inventory of homes on the market jumped as mortgage rates continue to rapidly rise.

Rising Interest Rates and Gold: Perception Doesn’t Match Reality

Even with rising interest rates and the dollar at multi-year highs, gold has held its ground. Nevertheless, we have yet to see a big spike in gold prices despite persistent inflation. Why not? The perception is that rising interest rates are always bad for gold. But does perception match up with reality? If history is […]

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 […]

Three Ways Fed Rate Hikes Will Impact Your Wallet

The Federal Reserve recently delivered the largest interest rate hike since 1994 in an effort to combat inflation that turned out to be not so transitory. Economists and policy wonks continue to debate the effectiveness of these rate hikes in the face of historically high inflation, but what do they mean for you? Should you […]

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 […]

Playing Darts Wearing a Blindfold: SchiffGold Friday Gold Wrap June 17, 2022

The Federal Reserve just gave us the biggest interest rate hike since 1994. A month ago, we were told a 75 basis-point hike wasn’t on the table. It almost seems like the central bankers are winging it. Or as Friday Gold Wrap podcast host Mike Maharrey puts it, it’s like they’re playing darts while wearing […]

Consumer Debt Breaks Record as Americans Up Borrowing to Cope With Inflation

Consumer debt climbed to a new all-time record in April as Americans continue to cope with rapidly rising prices. Total outstanding consumer debt rose by $38 billion in April, reaching a new record of $4.57 trillion, according to the latest data from the Federal Reserve. Total consumer debt was up 10.1% in April. It was […]

The Fed Giveth; The Fed Taketh Away: SchiffGold Friday Gold Wrap May 27, 2022

When the Federal Reserve tinkers with interest rates, it creates all kinds of economic distortions. This is very obvious in the housing market. Over the last couple of years, the Fed blew up a giant housing bubble. Now, the central bank has pricked that bubble. In this episode of the Friday Gold Wrap podcast, host […]

The Air Is Coming Out of the Housing Bubble

The Fed has barely started raising interest rates but the air is already seeping out of the housing bubble. New single-family home sales plunged by 16.6% from March and were down 26.9% year on year. New home sales dropped to the lowest level since the lockdown in April 2020.

Peter Schiff: The Fed Has Already Lost the Inflation Fight

Last week, the Fed raised interest rates by 0.5%. It was the biggest rate increase since the year 2000. But it was hardly aggressive in light of the current bout of inflation. Not only that, Jerome Powell took a future 75 basis point hike off the table. In his podcast, Peter Schiff argued that no […]