Peter’s Blog

Government policies – from shutdowns, to stimulus, to vaccine mandates – in response to the coronavirus pandemic have thrown the US economy completely out of whack. Looking at employment reveals just how messed up the economy has become. The number of Americans quitting their jobs surged to a record high in August. According to the […]

Peter Schiff says gold will explode and the dollar will implode when the markets figure out the Fed is crying wolf when it comes to monetary tightening. The Federal Reserve wrapped up another meeting without making any changes to its current extraordinary, loose, inflationary monetary policy. But the central bank did hint that it may […]

A Reuters article by Stefano Rebaudo argued that the Federal Reserve might welcome a “bond market tantrum” that pushes bond yields higher. But does the Fed really want higher interest rates? And what would that mean for the economy? Despite the post-pandemic economic improvement and wide expectations that the Fed will begin tapering quantitative easing […]

India’s gold imports hit a 5-month high of 121 tons in August, a further sign of recovery in the world’s second-largest gold market.

The “transitory” inflation swamping the country has stubbornly persisted into July.  Producer prices posted a second straight 1% month-over-month increase, which brought the full-year number to a record 7.8%. Twelve-month US export prices rose 17.2%, and nearly 22% if the rate of the first seven months of 2021 were annualized. (I find it telling that […]

After being put on pause due to a coronavirus surge, the recovery of India’s gold market appears to be back on track.

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.

For months, the markets have anticipated the Fed tightening monetary policy in order to take on rising inflation. At the June FOMC meeting, the central bank even hinted that it might start raising interest rates in 2023 instead of 2024, and the central bankers apparently talked about talking about tapering their quantitative easing bond-buying program. […]

Here we go again. The clock is ticking down to another US debt ceiling battle.

In the Federal Reserve’s new world of “transitory” inflation, Americans are paying more to get less. Retail sales were up 0.6% from May to June. According to the Commerce Department, American consumers spent $621 billion on retail goods and services last month. With the big 1.7% drop in May, retail sales remained below levels in […]