Peter's Blog

Fed Rate Cut 3.0: SchiffGold Friday Gold Wrap Nov. 1, 2019

As expected, the Federal Reserve cut rates for the third time this year. We’re now down to 1.5%. The Fed hinted that cuts are likely on pause for now. But should we believe it? Was this the end of a mid-cycle adjustment? Or should we expect more moves by the central bank? In this episode […]

Peter Schiff: When Is the Market Going to Wake Up to this Con?

As expected, the Federal Reserve cut interest rates another 25 basis points on Wednesday. The mainstream read the post FOMC meeting comments to be relatively hawkish, saying Powell and Company seemed to indicate that future rate cutting is on pause. Peter Schiff opened up his podcast reminding us that just one year ago, the Fed […]

Peter Schiff: Investors Are in for a Painful Awakening

Last Tuesday, the S&P 500 made a record high as markets anticipated another Fed rate cut. Some analysts say the big risk is that we’re seeing a boost in asset prices but no real uptick in the actual economy. Peter Schiff appeared on RT Boom Bust to talk about it. He said investors buying onto […]

It’s a Global Rate-Cutting Frenzy

As I write this, the Federal Reserve is in the midst of its October FOMC meeting. The central bank is widely expected to cut interest rates another 25 basis points. If the Fed follows through, it will be the third cut in three meetings, totaling 75 basis points since July. Although the Fed continues to […]

It’s Deja Vu All Over Again: SchiffGold Friday Gold Wrap Oct. 25, 2019

We’ve talked a lot about government debt and consumer debt. In this episode of the SchiffGold Friday Gold Wrap, host Mike Maharrey highlights the massive corporate debt bubble. As he explains, it’s eerily similar to the mortgage debt bubble the blew up in the years prior to the 2008 crash. It’s a little like deja […]

This Is Not a Printing Press! (Or Is It?)

Rene Magritte’s 1929 painting “The Treachery of Images,” depicts a tobacco pipe with a caption that reads “Ceci n’est pas une pipe,” (French for “This is not a pipe”). Everyone who has taken a course in modern art knows that Magritte’s exercise in contradiction was meant to draw a distinction between a real thing and […]

Stimulus Doesn’t Stimulate: The Case of Japan

Last week, Keynesian extraordinaire Paul Krugman called for more fiscal stimulus in the form of a “government investment program.” Mike Maharrey poked fun of him in his Fun on Friday column. But while it might be amusing to crack jokes at the expense of Keynsians and their obsession with both fiscal and monetary stimulus, the […]

Peter Schiff: The Fed Will Try Again But It’s Not Going to Work

“In case the people in this room didn’t know, the financial crisis of 2008, which I had been forecasting for some time, and the Great Recession that ensued, was caused predominantly by the Federal Reserve.” This was the opening line of Peter Schiff’s talk at the Las Vegas MoneyShow. The Fed managed to “rescue” the […]

Fed Set to Launch “Massive” Bond-Buying Program — In Other Words QE

The Federal Reserve is set to begin what a MarketWatch article called a “massive” bond-buying program. Jerome Powell announced the program last Tuesday and the central bank released more details about the plan on Friday. The Federal Reserve will buy $60 billion in short-term Treasury bills each month. According to a statement, the purchases will […]

Peter Schiff: Trump and the Fed Are Reading Off the Same Script

Stocks took off on Friday on several big news items – most significantly President Trump’s announcement that the US and China have worked out phase one of a trade deal. In his podcast, Peter broke down the news. He also made an interesting observation: Trump and the Federal Reserve seem to be reading off the […]