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POSTED ON August 26, 2021  - POSTED IN Videos

During a Q&A with students and teachers, Federal Reserve Chairman Jerome Powell praised the bad economics that drove the government response to the coronavirus pandemic. In this clip from his podcast, Peter Schiff breaks down everything Powell got wrong.

During the Zoom event, Powell went out of his way to praise Congress for passing the “CARES Act.” The Coronavirus Aid, Relief, and Economic Security Act was the first $2.2 trillion stimulus plan Congress passed in response to the pandemic back in March 2020.

POSTED ON July 26, 2021  - POSTED IN Videos

Mainstream pundits sometimes accuse Peter Schiff of being a “stopped clock.” They admit he’s right occasionally, but only by virtue of sticking to the same narrative, talking about the malinvestments and misallocations in the economy and warning about an impending crisis. In this clip from his podcast, Peter said it’s the mainstream regulars on financial networks like CNBC who are the real stopped clocks.

POSTED ON July 1, 2021  - POSTED IN Peter's Podcast

Earlier this week, a federal court threw out an antitrust case against Facebook. The lawsuit filed by the Federal Trade Commission, along with 48 state governors, sought to force Facebook to divest itself of WhatsApp and Instagram, but the court said the FTC failed to prove that Facebook holds monopoly power. In his podcast, Peter Schiff said whatever problems Facebook may present, the only monopolies we should really be afraid of are the government-protected monopolies.

POSTED ON June 18, 2021  - POSTED IN Fun on Friday

A guy made a comment about my article highlighting Chipotle’s recent decision to raise menu prices in order to cover some of the cost of higher wages, pointing out that the CEO made some $38 million last year, noting “I doubt he needs it.”

The first thought that popped into my head was, ‘how exactly do you know what Brian Niccol needs?’ My second thought was, ‘what does that have to do with anything?’ And my third thought was ‘dude, you don’t have a clue how business works.’

POSTED ON March 30, 2021  - POSTED IN Key Gold Headlines

We have been saying that given the extraordinary level of money printing the Fed has done since the beginning of the pandemic, a wave of price inflation is coming down the pike – perhaps even hyperinflation. But many will be quick to remind us that we raised the warning flag about inflation when the Fed launched three rounds of quantitative easing in the wake of the 2008 financial crisis. In fact, Paul Krugman has been doing victory laps again – reminding everybody that the inflation monster never did come out of its lair and promising it won’t this time either.

Basic economics tells us that increasing the supply of money without a corresponding increase in the number of goods and services in the economy should lead to rising prices. Is basic economics wrong? Or are there other things going on in the economy that suppressed or hid inflation in the aftermath of the great recession?

POSTED ON March 10, 2021  - POSTED IN Videos

There’s an economic myth out there. As the story goes, governments can print their way to prosperity. Just run the money printing press, hand out cash for consumers to spend and the economy will hum. In this clip from a podcast episode, Peter Schiff calls it “The Kelton Myth” named for economist Stephanie Kelton. At the root of this tale is the notion that people can consume what they don’t produce. As Peter explains, this simply isn’t possible.

POSTED ON March 7, 2021  - POSTED IN Guest Commentaries

The federal minimum wage hike didn’t make its way into the coronavirus stimulus bill passed by the Senate last week, but it is an idea that won’t die. With Biden in the White House and Democrats controlling both houses of Congress, the issue will almost certainly come up again sooner rather than later.

Proponents of a $15 per hour minimum wage claim it will help pull people out of poverty. And it will help some people. But it will hurt others. The real minimum wage is always $0 and no law can change that reality.

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