Peter's Blog

US Government Runs Another Massive Budget Deficit in January

After running the biggest December budget deficit in history, the US government followed up with another massive budget shortfall in January. According to the Monthly Treasury Statement, the January deficit came in at $162.83 billion. That’s nearly five times bigger than the January 2020 shortfall.

Peter Schiff: Signs of Inflation

Last week, Federal Reserve Chairman Jerome Powell said he wasn’t worried at all about inflation. But there are signs that inflation is heating up everywhere, from surging commodity prices to rising bond yields. In his podcast Friday (Feb 12) Peter Schiff talked about increasing inflation and the unreasonable expectations Wall Street has when it comes […]

Fun on Friday: How to Sell a $69 Burger

In the Friday Gold Wrap podcast this morning, I talked about the minimum wage. Making a point about how raising prices lowers demand, I pointed out that McDonald’s wouldn’t sell many $15 hamburgers. But you know, there is a way Micky-Ds could make that work. Wrap those burgers in gold.

Economics Is a Thing: SchiffGold Friday Gold Wrap Feb. 12, 2021

With Joe Biden in the White House and Democrats controlling both houses of Congress, it seems pretty certain we’re going to get a federal $15 an hour minimum wage. In this episode of the Friday Gold Wrap podcast, host Mike Maharrey discusses the economic ramifications of minimum wage laws. Hint — they are not good. […]

Indian Gold Market Continues to Show Signs of Revival

Last month, we reported on signs of revival in the Indian gold market. Gold imports hit a 19-month high in December. That revival has continued into 2021. Gold imports in January were up 72% year-on-year, and some shifts in government policy could give demand another shot in the arm.

Peter Schiff: The Federal Reserve Has Handed the US Government a Blank Check

On Wednesday, Federal Reserve Chairman Jerome Powell called for a “society-wide” commitment to reaching full employment, calling for “contributions from across government and the private sector.” He said getting people back to work would require “continued support from both near-term policy and longer-run investments.” He also dismissed concerns about debt saying the focus needs to […]

Silver Demand Projected to Rise 11% in 2021

Silver got a brief boost when the Reddit Raiders turned their attention to the white metal. The online investors weren’t able to pull off a short-squeeze in the silver market, but we’ve said all along that there are fundamental reasons to be bullish on silver, the attention of Reddit Raiders notwithstanding. New demand projections for […]

What’s the Problem With Stimulus Checks, Trade Deficits and the Minimum Wage?

So, what’s wrong with stimulus, money printing, trade deficits, and the minimum wage? Peter Schiff appeared on Meet Kevin to tackle these questions and more.

The Inflation Tax Is Lowering Our Standard of Living

In a podcast, Peter Schiff said it smells like stagflation is on the horizon. Inflationary pressures are becoming more and more apparent. Labor costs, commodity prices and bond yields are all pushing upward – clear signs of inflationary pressure. And of course, defined correctly – as an increase in the money supply – there is […]

Peter Schiff: All of This Smells Like Stagflation

We ended last week with some weaker than expected economic data – particularly the jobs numbers, but the stock market continues to go up. These days, the mainstream reacts to everything as good news. No matter what the data suggests, everybody seems to think things will come up smelling roses because of stimulus. But in […]