Peter's Blog

Peter Schiff: There Are Bubbles Everywhere and They’re All Going to Pop

The Dow pushed above 28,000 on Friday. The Nasdaq also closed on a record high above 8,500, and the S&P 500 made a new record high of 3,120. This despite some more gloomy economic data that came out during the day. Industrial production dropped more than expected, falling by 0.8 in October. Inventory numbers were […]

Peter Schiff: It’s the Fed’s Fault!

Jerome Powell lectured Congress about the national debt last week, calling it unsustainable. The Federal Reserve chairman is concerned. He admitted that with interest rates already close to zero, the central bank has very little room to cut rates in the event of an economic downturn. Peter Schiff appeared on the Claman Countdown, along with […]

J. Powell Goes to Congress: SchiffGold Friday Gold Wrap Nov. 15, 2019

There was more optimism about a trade deal this week. There was also more pessimism about a trade deal this week. Markets reacted accordingly. But there was some other interesting news out there. Jerome Powell lectured Congress about the national debt and last month’s inflation data came in hotter than expected. Host Mike Maharrey covers […]

Powell Lectures Congress About Government Spending the Fed Facilitates

Fiscal 2020 started just like fiscal 2019 ended – with a massive federal budget deficit. And that has Federal Reserve Chairman Jerome Powell worried. In an ironic bit of political theater, Powell lectured Congress about the spending he helps facilitate. The budget shortfall last month was 34% higher than the October 2018 deficit, coming in […]

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 […]

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 […]

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 […]

Fun on Friday: The Opposite Game

When I was a kid, we used to play the opposite game. Everything you said had to be the opposite of what you meant. For example, if you were hungry, you’d say, “I’m not hungry.” Or if you really liked the song on the radio, you’d say, “This song sucks.” Well, politicians play the opposite […]

J. Powell’s Word-Salad: SchiffGold Friday Gold Wrap Oct. 11, 2019

Everybody is talking about the possibility of a trade deal. Well, maybe not everybody. In this episode of the Friday Gold Wrap, host Mike Maharrey rehashes his standard trade war observations and then moves on to bigger news – Jerome Powell’s announcement that the Fed is resuming QE. Of course, Powell didn’t exactly say that. […]