Peter's Blog

Markets Are Moving on a Fantasy

We’ve seen a sharp selloff in both gold and silver. Gold was down over $40 an ounce Friday. Meanwhile, the US dollar saw a sharp increase, along with a rise in long-term Treasury yields. The catalyst for these sharp moves was a better-than-expected jobs report and expectation that it will spark a quick pivot to […]

Central Banks Have Created the Mother of All Bubbles

The Federal Reserve and other central banks around the world have pumped trillions of dollars into the global economy and depressed interest rates to artificially low levels to blow up the mother of all bubbles. The recent acquisition of Afterpay by Square reveals the extent of this global bubble economy that will inevitably have to […]

A Whole Lot of Talk, No Action at the Latest Fed Meeting

The Federal Reserve wrapped up its July meeting on Wednesday. Once again, there was a whole lot of talk and no action. The Fed kept interest rates at zero. The Fed kept its quantitative easing program rolling. The Fed didn’t do anything. But the Fed had plenty to say.

Since When Is a Little Rate Hike Years From Now Hawkish?

Markets reacted strongly to what many considered “hawkish” messaging coming out of the June Federal Reserve meeting. But is the Fed really taking a “hawkish” position? Peter Schiff said the Fed was engaging in a “no stick” monetary policy. And in his Friday Gold Wrap podcast, Mike Maharrey argued the Fed was a dove in […]

What Does the Fed Know About the Future?

Central bankers at the Federal Reserve are talking a lot about what’s going to happen in the future. But what do they really know about what lies ahead? The fact is, they don’t know a whole lot. But we do know one thing for sure – the debt in the US isn’t going away. It’s […]

A Dove in Hawk’s Clothing: SchiffGold Friday Gold Wrap June 18, 2021

The Federal Reserve wrapped up its June meeting this week. The markets are convinced Jerome Powell has gone hawkish. Has he though? In this episode of the Friday Gold Wrap podcast, host Mike Maharrey talks about the messaging coming out of the FOMC meeting and reaches a completely different conclusion. He also compares and contrasts […]

The Fed Monetized More Than Half the Massive Federal Pandemic Debt

The US government continues to run massive budget deficits. That means it has to sell bonds to finance the debt. So, who’s buying all these Treasuries? The Federal Reserve is buying a lot of them as it continues to monetize the ever-growing federal debt. Between March 2020 and March 2021, the central bank monetized more […]

Janet Yellen’s Flip-Flop and What She’s Really Telling Us

Treasury Secretary Janet Yellen sent markets into a tizzy on Tuesday when she said interest rates may have to rise to keep the economy from overheating with all the government stimulus. But later in the day, she walked those comments back, claiming inflation isn’t going to be a problem and insisting that she wasn’t suggesting […]

Peter Schiff: The Fed Between a Rock and a Hard Place

The markets seem to think the Fed is going to fight inflation. They believe that the central bank will pivot to tighter monetary policy sooner than expected as inflation heats up, even though Jerome Powell keeps insisting inflation isn’t really a problem. In a recent podcast, Peter Schiff said that the truth is the Fed […]

Peter Schiff: Inflation Is Good for Gold; High Inflation Is Better for Gold

The bond market is getting clobbered. Long-term interest rates are rising and that is putting significant pressure on gold. Peter Schiff talked about rising rates and the gold market in a recent podcast. He said the rise in long-term yields is a function of inflation and people seem to forget that inflation is good for […]