Peter's Blog

The Bill Is Coming Due! SchiffGold Friday Gold Wrap Aug. 11, 2023

Credit cards are great until the bill comes due. And the US economy has about maxed out the plastic. The Federal Reserve incentivized borrowing and the economy is buried under trillions of dollars in debt. As Friday Gold Wrap host Mike Maharrey explains in this episode, the bill is about to come due. He also […]

Debt Chickens Are Coming Home to Roost

After the Federal Reserve incentivized borrowing with more than a decade of artificially low interest rates and easy money, the debt chickens are coming home to roost. Last week, Fitch Ratings downgraded the US’s long-term credit rating from AAA to AA+, and on Monday, Moody’s cut the credit rating of 10 small and midsize banks.

Ron Paul: Will the Fed Help End Donald Trump?

The Federal Reserve advertises itself as “independent” and above the political fray. We all know this isn’t true. The Fed is inherently political and makes decisions based on political calculations as much as economic data.

Easing Price Inflation Is Transitory

Is price inflation really heading back toward the Federal Reserve’s 2% target? Most people in the mainstream seem to think so, and the recent drop in the consumer price index (CPI) appears to support this belief. Price inflation has trended downward over the last several months, with the annual CPI falling from a high of […]

What’s Next? SchiffGold Friday Gold Wrap July 28, 2023

The Federal Reserve raised interest rates yet again during its July meeting. So, what’s next? In this episode of the Friday Gold Wrap podcast, host Mike Maharrey talks about the Fed meeting and the weird messaging, and then speculates about the central bank’s next move given the current economic backdrop. He also talks about a […]

“Lower” 3% Inflation Is Still Squeezing Our Wallets

The Consumer Price Index (CPI) cooled in June. Year on year, the CPI increased by 3%. That was trumpeted as great news with some pundits suggesting perhaps 3% is low enough. It’s not.

The Fed Follows Its Script and Hikes Again; What’s Next?

I’ll say this about the Federal Reserve: it tends to follow the script. Everybody expected that the central bank would hike rates at the July FOMC meeting, and that’s exactly what it did. The Fed boosted the federal funds rate another 25 basis points to 5.25 to 5.5%.

Number of US Corporate Defaults Already Bigger Than Last Year

The number of corporate debt defaults in 2023 has already exceeded the total number of defaults last year. According to data from Moody Investment Services, 55 American-based companies defaulted on loans through the first half of 2023. That was a 53% increase over the total number of defaults in 2022.

Reclaiming the Definition of Inflation

People are confused about the definition of inflation. And because they don’t really know what inflation is, they can’t grasp what’s causing it. Or how to fix it. That’s why it’s imperative that we reclaim the meaning of inflation.

Peter Schiff: Dollar Decline Means Lower Inflation Is Transitory

With the June CPI report coming in even cooler than expected, the mainstream perspective seems to be that the Federal Reserve is winning the inflation fight. But in his podcast, Peter Schiff explains why the dollar is telling a different story.