Peter’s Blog

Thanks in part to the Constitution, Americans are fortunate to live in one of the freest societies in history. As other economies, like Japan and China, continue to grow and challenge the dollar, we should be weary of protectionist narratives and remember that our government is not perfect when it comes to trade policy.  The following article was originally published by the Mises […]

The Federal Reserve often insists on its independence from political forces, but when push comes to shove, its purpose is to enable massive deficits and inflate the dollar for the government’s benefit. The following article was originally published by the Mises Institute. The opinions expressed do not necessarily reflect those of Peter Schiff or SchiffGold.

Fed chair Powell slammed the “panic button” this week. On Wednesday the Fed began a rate-cutting cycle in an environment of rising unemployment. This situation is historically associated with recession, but Powell is desperate for you to think that “this time is different.”

Some so-called “experts” are pushing for the removal of cash. Here’s why this threatens the economy and drives society even further away from freedom and sound money.

Full-time jobs are shrinking while part-time positions rise. With recession alarms blaring, the Fed only has two choices: create inflation or cause recession.

Yet again the myth of a “soft landing” even as the CPI surges past its target. Powell is now keen to extinguish the fire though disastrous rate cuts, a sign that the recession is already here.

True economic growth doesn’t come from inflation or regulation but from entrepreneurs who cut costs and drive industries forward. But as inflation quietly eats away, those who get the new money first enjoy a temporary gain, while everyone else suffers from rising prices and shrinking buying power.

While bankers claim inflation is under control, the rising price of gold signals deeper concerns. Meanwhile, central banks quietly hoard gold to shield themselves from their own expansionary policies. One must wonder: what are they bracing for?

The US economy is struggling with rising unemployment, inflation, and declining purchasing power, fueling discontent among Americans. A critical choice looms: continue on the current path or shift to pro-growth policies.

Government bailouts are surging, converting temporary bank-created money into permanent inflation. This inflation hurts the poor and benefits well-connected banks, driving inequality.