Peter Schiff

AI makes it much easier to start a business, as there is no longer a need to hire employees. This is especially advantageous given onerous labor laws and how easy governments have made it for employees to sue employers. So don't look for a job; think of a business you can start.

After I won my defamation lawsuit against corrupt Australian "journalist" Nick McKenzie, his friends in the media, especially Matthew Goldstein of the NY Times, deliberately mischaracterized my total victory as a settlement to protect McKenzie's undeserved reputation. I didn't just win; I won seven consecutive judgments, all with cost awards, which I believe is an Australian litigation record. The judge described McKenzie's defense conduct as "egregious" and "disarming." I sued Nick McKenzie for defamation because I had proof that he lied and committed fraud. But he can't sue me for defamation for calling him a liar, a fraud, and a disgrace …

The J5 describes the investigation of my bank, codenamed Operation Atlantis, as a notable success and holds out the shutdown as a milestone for the J5. Yet neither the bank nor anyone running it was criminally charged with tax evasion or money laundering in connection with Operation Atlantis. Nor did the investigation find any evidence that the bank facilitated either crime. Therefore, the only actual success related to the investigation was publicity for the J5. That claim of success must also be read alongside the ATO–IRS emails I obtained documenting J5 pressure on OCIF to act against the bank. The J5’s public statements corroborate the c…

When buying gold or silver, never buy from any company promoted by a famous conservative talk show host or podcaster. To afford to pay these promoters, companies vastly overcharge their customers and push them into overpriced "collectible" coins of dubious numismatic value. Only buy recognizable bullion coins and bars from reputable mints. To learn the facts about how gold companies rip off their customers, download my free report here: https://t.co/gTVXXzoF3T

At this point it's Republicans who have TDS. During the first two years of Trump, GDP and job growth are slower, while inflation, budget and trade deficits are higher, than during Biden's last two . Yet they credit Trump for a booming economy while ignoring blatant corruption.

Compared to Biden's last two years, Trump's first two years have so far produced slower GDP growth and higher inflation. That's why Democrats will win the midterms in a landslide. But with a Democratic Congress, future GDP growth will be even slower and inflation even higher.

It's the Republicans' fault that the Democrats will win Congress in the midterms and the White House in 2028. By pursuing the same failed policies of the past, but lying about having done something different to solve the problems those policies created, they opened the door for the Democrats to falsely claim that they are better qualified to solve them. Of course, once elected, they will compound the problems even more than Republicans. That's why I am even more frustrated with the Republicans than the Democrats. The Republicans are the ones who are supposed to know better. Worse than elected Republicans are those who work in the media. By p…

It seems impossible that Trump didn't anticipate the media reaction to Katie Zacharia's first press conference. Maybe he appointed her knowing that it would divert headlines away from the war and soaring energy prices and interest rates in the weeks leading up to the midterms.

During the last few months of 2020 and the first few of 2021, it was obvious from the numbers that inflation was about to spike. When it did, the Fed dismissed the rise as transitory. It's happening again. Inflation is about to spike, only this time the rise will be much bigger.

Here I am at the Halloween party I went to after I finished last night's Schiff Gold Friday Market Wrap. I did the podcast wearing my Goldmember costume, but you could only see it from my chest up. It's an important podcast. https://t.co/VYkhKJdPRO https://t.co/kJsyspuR3o

The odds of Democrats winning the Senate are 65%. Since the inflation rate in 2027 will likely be higher than the highest year under Biden, the ability to blame a Democratic Congress for a surge that would have happened regardless of the outcome will be a gift to Republicans.

CPI, PPI and import prices all came in hotter than expected this week. Traders sold gold anyway. They think it means the Fed will fight harder. It means the Fed already lost. Gold at $4,145 is a gift. https://t.co/wGO2bHHVdM

Annual interest on the national debt now costs $1.4 trillion, the second-largest federal expenditure, exceeded only by the $1.7 trillion spent on Social Security. By the end of 2027, annual interest payments on the national debt will exceed the cost of Social Security benefits.

Oil is above $100. The main reason it's not closer to $150 is all the oil being released from the Strategic Petroleum Reserve. That will stop after the midterms. When it becomes obvious that inflation will outpace Fed rate hikes, the dollar will fall, sending oil prices soaring.

Since consumer prices will rise even more under Trump than they did under Biden, inflation and affordability will be even bigger issues in 2028 than they were in 2024. The presidential campaign will be over who is to blame: Trump or Biden and the Democratic-controlled Congress.

Under Biden, the highest inflation in any one calendar year was 7% in 2021. The seeds for that high inflation were sown under Trump in 2020. Annual inflation then fell every year under Biden. It will rise every year under Trump. Both 2027 and 2028 will likely see gains above 7%.

During the first nine months of 2026, the CPI is already up by 4%. That's more than the 3.4% rise during all of 2023 and the 2.9% rise during all of 2024. Republicans are lying when they say inflation has come down under Trump. Prices will rise more under Trump than under Biden.

Import/export prices are far better inflation indicators than the CPI, as prices are not manipulated to reduce the rate of increase. Sept. import prices spiked 1.1%, and export prices soared 2.2%. Those rates annualize to 14% and 30% inflation. YoY, prices rose 8.1% and 11.6%.

Don't pay attention to what Warsh says; look at what he does. If he were serious about reducing inflation, the Fed's balance sheet and M2 would be shrinking. Instead, the balance sheet is larger than when he became Fed Chair, and M2 is growing at nearly a 6% annualized rate.

CNBC is sugarcoating the U.S. economy. They reported that the recent inflation data shows that inflation isn't coming down as fast as the Fed expected. It's not that inflation is coming down too slowly; it's that it's not coming down at all. In fact, the rate is rising rapidly.

Kevin Hassett claims the U.S. economy is very strong because consumers are saving less and spending more. He attributes that to high confidence. But confidence is at a record low. Consumers are spending more because stuff costs more, and they're borrowing because they're broke.

Fannie Mae Just Crashed 23% in Three Days... Home Prices Are Next https://t.co/FO4RZKNy8o

Since our 2022 debate, gold is up 116%. HEX is down 99.6%. Richard Heart laughed through the whole thing. Only one of us is still laughing. https://t.co/vIRuNBRQ73

Despite a much hotter-than-expected Sept. PPI, gold has already recovered all of yesterday's losses that resulted from a slightly hotter-than-expected Sept. CPI. Maybe investors are finally realizing that higher inflation is bullish for gold. Buy some now! https://t.co/CY02g7N0Nj

Mortgage lenders will lose far more during the developing mortgage crisis than they did during all of the GFC. From 2007–2010, realized losses on defaulted mortgages totaled about $450 billion. There is currently about $8.3 trillion in outstanding fixed-rate mortgages with an average rate of 4.6% and 25 years left to maturity. Given that current rates are 7.5%, the mark-to-market losses on those mortgages are already about $2 trillion. When rates rise to 8.5%, the loss will rise to $3 trillion! That means even without a single default, on paper mortgage lenders have already lost over four times more than they lost during the GFC. That loss …

Producer prices skyrocketed 1.3% in Sept., almost triple estimates. That annualizes to an inflation rate of nearly 17%! YoY PPI rose 6.3%. Sept. core rose 0.7%. That annualizes to nearly 9% inflation. PPI is a leading indicator of CPI. Despite rate hikes, real rates are plunging.

Deficits Fuel Inflation, Inflation Fuels Rates... The Spiral Is On https://t.co/99UTCIb9rd

Today in the broader U.S. stock market, 479 stocks made 52-week lows while only 60 made 52-week highs. That's eight stocks hitting new lows for every one hitting a new high. Trump likes to take credit for a booming stock market. But most stocks are actually in bear markets.

Today the Comptroller of the Currency issued a report that concluded that the nine largest banks debanked customers because of their political beliefs. That's nothing. In my case, it was the U.S. government itself that debanked my entire bank because of my political beliefs. They then used the shutdown to falsely claim my bank was facilitating tax evasion and money laundering, so they could claim credit for putting a stop to nonexistent criminal activity.

When the government and the media report GDP growth, they always annualize the quarterly number. So 0.5% growth during a quarter is reported as 2% annualized growth. If they did the same thing with inflation, the 0.6% rise in Sept. would be reported as 7.4% annualized inflation.