Peter's Blog

The Calm Before the Storm: $119 Billion Budget Deficit in March

The US government budget deficit in March came in at $119 billion, according to the latest US Treasury Department Report. That’s a massive budget shortfall. But it’s actually the calm before the storm.

What the Heck Happened to Oil?

The price of oil turned negative on Monday for the first time in history. Of course, that doesn’t mean that somebody will soon pay you to put gas in your car. We’re talking about the price of oil futures contracts. Nevertheless, it does indicate just how out of whack the oil market has become.

Cashflow Crisis Could Sink Small Businesses Even After the Economy Reopens

A lot of people still seem to think the economy will fire right back up and things will snap right back to normal when the government-imposed coronavirus lockdowns end. I don’t believe we’re going back to normal for a number of reasons – primarily because things weren’t normal before coronavirus. The economy was a big, […]

Peter Schiff: The Questions Nobody Is Asking

There seems to be growing optimism that we’re nearing the end of the coronavirus lockdown. Stocks have rallied despite dismal economic numbers. But Peter Schiff says there are some important questions nobody is asking, especially when it comes to the insane Federal Reserve monetary policy.

Fun on Friday: Sometimes You Just Need a Good Laugh

We’ve had more than our fair share of stress over the last few weeks. I think we could all use a good laugh. And I have one for you. It has to do with teeth.

A Bucket of Cold Water: SchiffGold Friday Gold Wrap April 17

Gold sold off overnight and stock futures soared after President Trump offered some guidelines to “reopen America.” There was also news of a promising COVID-19 treatment. In this episode of the Friday Gold Wrap podcast, host Mike Maharrey throws a bucket of cold water on all of the optimism. He explains why the economy won’t […]

US Mint Shuts Down New York Production Facility

With all of the economic chaos and uncertainty spurred by the government lockdowns in response to coronavirus, the demand for physical gold and physical silver has skyrocketed. That has put a significant squeeze on the supply of gold bullion products. That squeeze is about to get tighter.

We’re Not Going Back to Normal

Turn the key and the economy will restart. That’s a myth a lot of people in the mainstream have peddled since governments started shutting down the economy in response to the coronavirus pandemic. That’s not going to happen. We’re not going back to normal.

Peter Schiff: This Is a Financial Crisis

A lot of people in the mainstream still insist this isn’t a financial crisis like we saw in 2008. They say this is just a self-inflicted shutdown of the economy. Since we decided to shut it down, we can decide to start it back up again. Peter Schiff begs to differ. In his podcast, he […]

Consumer Debt Was Already Surging Before Coronavirus

The solution to the coronavirus economic meltdown is to borrow our way out of it. The Federal Reserve slashed interest rates to zero and the stimulus bill makes all kinds of loan programs available to pretty much anybody and everybody. But American consumers were already up to their eyeballs in debt before the coronavirus lockdowns. […]