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POSTED ON April 19, 2021  - POSTED IN Peter's Podcast

When Federal Reserve Chairman Jerome Powell appeared on 60 Minutes recently, he was asked what it takes to become the head of the central bank. In a clip from podcast episode 679, Peter Schiff said that when you think about the actual qualification, Bernie Madoff would have made the perfect Fed chairman. Or perhaps the secretary of the US Treasury department.

So, what does qualify one to head up the Federal Reserve? Peter said that apparently, being clueless about economics helps.

POSTED ON April 16, 2021  - POSTED IN Friday Gold Wrap

CPI came in even hotter than expected signaling rising inflation. The US government is running a massive record budget deficit. But we’re told these things aren’t a problem. Budget deficits don’t really matter. Inflation is transitory. But how can we be so sure? On this episode of the Friday Gold Wrap podcast, host Mike Maharrey talks about it.

POSTED ON April 15, 2021  - POSTED IN Original Analysis

Through the first six months of fiscal 2021, the US government ran a record $1.7 trillion budget deficit. Federal Reserve Chairman Jerome Powell said this is sustainable – for now.

During a webinar sponsored by the Economic Club of Washington DC, Powell said the economy can handle the current debt load. But he did warn that the long-term trajectory of the US budget is unsustainable.

POSTED ON April 15, 2021  - POSTED IN Peter's Podcast

Federal Reserve Chairman Jerome Powell keeps telling us not to worry about rising prices, assuring us that any increase in price inflation is “transitory.” It appears most of the mainstream is buying this hook line and sinker.

The March CPI number was expected to come in hot due to a much lower baseline. Prices tanked last March as governments locked down their economies. As a result, economists expected the year-on-year CPI comparison to show a big increase. But the increase was even bigger than expected. Peter Schiff talked about it in a recent podcast.

POSTED ON April 14, 2021  - POSTED IN Interviews

During his recent 60 Minutes interview, Federal Reserve Chairman Jerome Powell reiterated that he thinks any spike in price inflation will be transitory. As he put it during the interview, we may see “temporarily higher prices but not persistent inflation.” Peter Schiff appeared on RT Boom Bust to talk about Powell’s view on rising prices. He called the Fed chair’s position, “laughable.”

POSTED ON April 13, 2021  - POSTED IN Key Gold Headlines

The US government ran a budget deficit of $659.59 billion in March, pushing the budget shortfall to a record $1.7 trillion through the first half of fiscal 2021, according to the Treasury Department’s Monthy Treasury Statement.

The March budget deficit ranks as the third biggest monthly shortfall in US history, driving Uncle Sam the biggest half-year deficit ever.

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