Peter's Blog

Fed Up! SchiffGold Friday Gold Wrap Sept. 8, 2023

We’re fed up — fed up with the Federal Reserve. After all, it is the engine that drives the biggest government in history. In this episode of the Friday Gold Wrap, host Mike Maharrey explains what the Fed is, how it came to be, and how it enables reckless government borrowing and spending. He also […]

Pain at the Pump: Rising Gasoline Prices Undermine Disinflation Narrative

Falling energy prices were a significant factor in the big decline in the Consumer Price Index (CPI) earlier this year. Bad news: energy prices are now heading up. That means the CPI relief was almost certainly transitory.

Another Blow to the Petrodollar: India and the UAE Complete First Oil Sale in Rupees

In another blow to dollar dominance, India and the United Arab Emirates settled an oil trade without converting local currencies to dollars for the first time on Monday, as India’s top refiner made a payment for oil in rupees. Indian Oil Corp. bought a million barrels of oil from Abu Dhabi National Oil Company in […]

Peter Schiff: The World Is Starting to Divest Itself of the Dollar (Interview)

In a surprise move earlier this month, OPEC announced further oil production cuts of about 1.16 million barrels per day. Analysts projected the cuts could raise the price of oil by $10 per barrel. Peter Schiff recently appeared on NewsMax’s Wake Up America and explained why these production cuts will further complicate the Federal Reserve’s […]

Petrodollar on Shaky Ground; Saudi Arabia Willing to Discuss Selling Oil in Other Currencies

In a recent interview, Saudi Arabia Finance Minister Mohammed Al-Jadaan said the country is open to discussing trade in currencies other than the US dollar. This could mark the beginning of the end of petrodollar exclusivity. That would be a huge blow to dollar dominance.

Biden’s Gas Money Giveaway Would Only Make Things Worse

These people never learn. Or they just don’t care. The Biden administration is reportedly still considering sending out gas rebate cards to help Americans cope with rising gasoline prices. But this kind of government handout is one of the primary reasons we’re suffering through this inflation firestorm to begin with.

Is Corporate Greed Behind High Gas Prices?

There is a meme floating around social media that seems to prove greedy corporations – specifically oil companies – are the root cause of inflation. How does this meme stack up to reality? Short answer — it doesn’t.

A Petroyuan Would Be a Kick in the Gut for the Dollar

Last week, I asked the question: is the US undermining the dollar’s credibility? It appears the answer is — yes. In another blow for dollar dominance, Saudi Arabia is reportedly considering pricing at least some of its Chinese oil sales in yuan.

Peter Schiff: Sanctions on Russia Could Mean Even Higher Inflation for Americans

President Joe Biden has announced the first round of economic sanctions on Russia as tensions in Ukraine continue to mount. The sanctions came in response to an announcement by Russian President Vladimir Putin recognizing two breakaway republics in Ukraine and his decision to send troops into those regions. Sanctions are meant to punish Russia, but […]

Peter Schiff: The Fed Is Going to Lose the Inflation Fight

The markets continue to brace for the Fed’s impending inflation fight. But as Peter explained in his podcast, they’re not bracing for the Fed to lose that fight. And the Fed is going to lose that fight.