Peter’s Blog

The Dow Jones index hit record highs last week. But when you price the index in real money — gold — it remains far below record levels.

After the Federal Reserve effectively surrendered to inflation at its December meeting, projecting three rate cuts next year, New York Fed President John Williams tried to walk the surrender back. In his podcast, Peter Schiff analyzed Williams’ more hawkish comments and compared them to Powell’s dovish stance after the FOMC meeting. Williams said, “We aren’t […]

Two weeks ago, Federal Reserve Chairman Jerome Powell said it would be “premature” to conclude that monetary policy is sufficiently restrictive. This week, the Fed indicated rate cuts are on tap for next year. What a difference two weeks makes! In this episode of the Friday Gold Wrap, host Mike Maharrey breaks down this week’s […]

The Biden administration just ran the largest November budget deficit in history. And it managed this feat even with a 9% increase in government receipts.

The Federal Reserve just surrendered to inflation. Fed officials won’t call it a surrender. They’re claiming victory. But surrender is the effect of the policy trajectory laid out by the Federal Open Market Committee (FOMC) at its December meeting.

Inflation is dead! At least that’s what you would think if you listen to government officials and talking heads in the financial media. So, how is this victory over inflation working out for the average person? Not so great.

Why do virtually all the mainstream pundits think the Federal Reserve has won the inflation fight? Maybe it’s just wishful thinking. They want the Fed to win so it can go back to what it does best – creating more inflation with artificially low interest rates and quantitative easing. Regardless, most of the mainstream punditry […]

In a recent interview with Forbes, economic commentator and historian Jim Grant warned that we haven’t fully felt the inevitable fallout from the “free money era.” I think that the consequences of more or less 10 years of proverbially free money are going to play out in the credit markets.”

Most mainstream pundits characterized the November jobs report as a “Goldilocks” report. Job growth was strong enough to support the “soft landing” narrative but not so strong it might scare the Fed into raising interest rates again. President Joe Biden used the report to boast about his economic achievements. But according to Peter Schiff, Biden […]

The “resilient” American consumer seems to be running out of gas. Americans are still running up credit card debt but at a much slower pace. Meanwhile, borrowing for big-ticket items has cratered. Total consumer debt rose by $5.2 billion in October, according to the latest data from the Federal Reserve. That was a relatively small […]