Peter's Blog

A Whole Lot of Talk, No Action at the Latest Fed Meeting

The Federal Reserve wrapped up its July meeting on Wednesday. Once again, there was a whole lot of talk and no action. The Fed kept interest rates at zero. The Fed kept its quantitative easing program rolling. The Fed didn’t do anything. But the Fed had plenty to say.

Another Fed Balance Sheet Record; Where’s the Exit Door?

For months, the markets have anticipated the Fed tightening monetary policy in order to take on rising inflation. At the June FOMC meeting, the central bank even hinted that it might start raising interest rates in 2023 instead of 2024, and the central bankers apparently talked about talking about tapering their quantitative easing bond-buying program. […]

Russia Goes to War With Inflation

While the Federal Reserve continues to downplay inflation in the US, insisting that it is “transitory,” the Bank of Russia has gone to war with rising prices. Bank of Russia Governor Elvira Nabiullina says she sees “persistent factors” to inflation, and on Friday, the Russian Central bank hiked interest rates by 100 basis points to […]

Peter Schiff: The Mainstream Pundits Are the Real Stopped Clocks

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 […]

Political Theater: SchiffGold Friday Gold Wrap July 23, 2021

Pop some popcorn. It’s time for some political theater. Congress is gearing up for another debt ceiling fight. In this episode of the Friday Gold Wrap podcast, host Mike Maharey gives you a preview of the next big Washington DC blockbuster production, complete with some debt ceiling history and an explanation as to why we […]

Peter Schiff: The Markets Are Afraid of the Wrong Thing

The markets have been jittery lately. The mainstream remains concerned about inflation – more specifically that the Fed is going to tighten monetary policy sooner rather than later to fight rising prices. But in his podcast, Peter Schiff makes the case that the markets are afraid of the wrong thing. They shouldn’t be worried about […]

Paying More and Getting Less

In the Federal Reserve’s new world of “transitory” inflation, Americans are paying more to get less. Retail sales were up 0.6% from May to June. According to the Commerce Department, American consumers spent $621 billion on retail goods and services last month. With the big 1.7% drop in May, retail sales remained below levels in […]

Peter Schiff: The Fed’s Real Power – The Power to Destroy

PBS Frontline recently released a documentary titled “The Power of the Fed.” Peter Schiff watched it and offered his analysis of the show on his podcast. He said the documentary missed the real power of the Fed — the power to destroy.

The Story Is All They’ve Got! SchiffGold Friday Gold Wrap Podcast July 16, 2021

Consumer price index data came in hotter than expected. Again. The producer price index data also came in well above projections. But Fed Chair Jerome Powell continues to stick to his “inflation is transitory” story. On this episode of the Friday Gold Wrap, host Mike Maharry digs into the inflation data and highlights Powell’s comments […]

That’s His Story and He’s Sticking to It!

Despite mounting evidence to the contrary, Federal Reserve Chairman Jerome Powell stuck to his “transitory” inflation narrative during testimony before the House Financial Services Committee. That’s his story and he’s sticking to it!