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The basic definition of an interest rate is simply the cost of borrowing money. It’s the cost associated with acquiring credit, whether buying a car, getting a mortgage, or taking a vacation. We encounter interest rates every time we make a monthly credit card or student loan payment. Interest and interest rates are a major […]
In a recent article on the next looming recession, Peter Schiff explains how current monetary policy has come to a crossroads. With respect to interest rates, there now seems to be two entrenched camps: raise or don’t raise. Unfortunately, they’re both wrong, mainly because they’re beginning with the wrong premise: that the economy can somehow […]
A wilting, stifled economy is the story this week with the Fed. They’re trapped, unable to bolster the economy and they have no ammo to halt inflation. Fed President Lacker Urging Preemptive Rate Increases Regular Fed dissenter Jeffrey Lacker said this week he sees even bigger rate increases coming in if the Fed doesn’t start […]
In his 200th podcast, Peter Schiff explains the ineffectual outcomes of Richmond Federal Reserve President Jeffrey Lacker’s call for “preemptive” interest rate action. Lacker said he believes the Fed should anticipate a rise in inflation levels by getting ahead of the curve. The suggestion only makes sense to those who can’t see the artificially inflated […]
There are currently about 54 million millennials entering the workforce in the US, and for many of them, the idea of buying a home isn’t an immediate goal. That’s because the majority (70%) are under an enormous amount of student debt. Large school loans are motivating many millennials to put off their first home purchase […]
Ever since the financial crisis of 2008, many investors have bought gold and precious metals to withstand the storm of volatile markets and insolvent banks. Demand for gold storage services is so in-demand throughout the world, Switzerland vault owners are turning customers away. Many of these Swiss vaults reside in the Alps within old military […]
In his latest podcast, Peter runs down the real threats of prosecuting and over-regulating financial institutions like Wells Fargo. Last week, Wells Fargo CEO John Stumpf was lambasted by members of the House Financial Services Committee over the unauthorized accounts scandal. Members called for Strumpf’s resignation and a breakup of the company. Aside from the heated […]
The Fed wasn’t immune from the political spectacle that was the Presidential debate on Monday. After that, Yellen had to answer even more criticisms from the nation’s financial regulation. “The Fed is being more political than Secretary Clinton”— Trump In Monday’s much-awaited presidential debate between Hillary Clinton and Donald Trump, there were many contentious topics […]
On Wednesday, Federal Reserve Chairwoman Janet Yellen testified before the House Financial Services Committee on financial regulation. The Fed Chair took criticism from both sides, with Democrats and Republicans criticizing the regulatory body for doing too much and for doing too little. Among the topics was the over-reach of Dodd-Frank, breaking up “too big to […]
In his latest episode, Peter Schiff reacts to the first presidential debate and Donald Trump’s missed opportunities to put Hillary Clinton on the defensive about paid maternity leave, government mandates, profit sharing, and the Federal Reserve. One of Trump’s biggest opportunities was going after independent voters by expanding the argument that Clinton’s policies were “just […]
