Peter’s Blog

Last week, the Bank of England threw in the towel on its inflation fight and launched a quantitative easing program. Why? Because something broke in the UK financial system. That led to a rally in stocks and precious metals this week as many in the US realized the Fed might be closer to a pivot […]

Federal Reserve Chairman Jerome Powell knew fighting inflation would cause big problems in a bubble economy loaded up with debt. He put it off as long as he could, calling inflation “transitory.” But once inflation became a huge problem, the central bank had no choice but to get into the fight and start tightening monetary […]

The United Nations Conference on Trade and Development (UNCTAD) got it half right. The UN agency warned that there is a high risk of a global recession due to central banks tightening monetary policy to fight inflation. But the solutions offered reveal that the UNCTAD has no idea what causes inflation.

Last week, the Bank of England suddenly pivoted. It gave up its inflation fight to rescue its pension funds and bond market. What exactly happened? And what does it tell us about the Federal Reserve’s inflation fight? Peter Schiff explained it all on his podcast.

This is starting to look a lot like the popping of the dot-com bubble with one big difference — inflation. Beginning in mid-June, we saw a significant bear market rally in stocks. But the recent declines have wiped out those gains and more. For instance, the Dow jumped 14% during the 2-month rally. By the […]

Given historically high inflation, why haven’t we seen a big rally in gold and silver? There are a number of factors that have weighed on precious metals, but as the World Gold Council points out, it’s important to put gold and silver’s recent price movements in a broader perspective. In fact, gold has been one […]

Last week the Fed raised interest rates another 75 basis points and continued to insist it was fully committed to doing whatever it takes to bring inflation back down to 2%. In his podcast, Peter argued that Powell still thinks he can pull off the impossible. He can’t.

Even as the August inflation data was coming out higher than expected, President Joe Biden was bragging about his “Inflation Reduction Act.” Peter Schiff appeared on NewsMax and argued that the president is putting Americans at risk just so he can improve his image as we approach election time.

The September Federal Reserve meeting wrapped up this week with another 75 basis point rate hike. And Fed Chairman Jerome Powell admitted that there is going to be some pain as the central bank continues to fight inflation. In this episode of the Friday Gold Wrap podcast, host Mike Maharrey reacts to the meeting and […]

During his post- FOMC meeting press conference, Federal Reserve Chairman Jerome Powell said, “Hope for the best; plan for the worst.” I think he meant, “Live in hope; die in despair.”