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The author Peter Schiff
Peter Schiff
Peter David Schiff (born March 23, 1963) is an American financial analyst, stockbroker, author, and one-time Senate candidate. He has appeared as a guest on numerous financial television shows and has been quoted in major print publications as a financial analyst and economist. He is host of The Peter Schiff Show, an audio show broadcast on terrestrial and Internet radio, and he was formerly host of an Internet podcast called Wall Street Unspun, now archived as podcasts.

Peter Schiff

What’s In This Stimulus Bill 3.0? And Who’s Going to Pay for It?

On Wednesday, the House gave final approval to coronavirus stimulus bill 3.0. For those keeping score at home, that brings total stimulus spending approved during the pandemic to $5 trillion.So, what exactly is all of this money going to be spent on? And who is going to pay for it?The House passed the so-called American Rescue Plan by a 220-to-211 vote pretty much along party lines. In fact, not one Republican voted for the bill. They said it was too porky. Apparently, only Republican...

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Government Stimulus Is Blowing Up a Massive Economic Bubble

We’re told we’re on the road to economic recovery. The $1.9 trillion stimulus is all we need to get us over the hump. But the truth is, Americans started spending like they were over the hump months ago. In fact, American consumers high on stimulus have been on a spending spree since last summer. The Federal Reserve printed money. Uncle Sam handed it out. American consumers spent it on imported goods.This isn’t the formula for a genuine economy. It’s the formula for a giant bubble.During...

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Peter Schiff: You Can’t Consume What You Don’t Produce

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.Kelton was Bernie Sanders’ economic advisor...

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Precious Metals Imports Into US Hit 19-Year High in 2020

Imports into the US of gold, silver and other precious metals surged last year.The value of precious metals pouring into the US hit a 19-year high in 2020 and doubled the volume of 2019, according to an analysis of census trade data by USA TODAY.The influx of precious metals into the US hit $55 billion last year. According to the USA TODAY report, the trend reflected rising demand among purchasers that ranged from Wall Street investment funds to ordinary people buying up...

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Peter Schiff: The Fed Between a Rock and a Hard Place

The markets seem to think the Fed is going to fight inflation. They believe that the central bank will pivot to tighter monetary policy sooner than expected as inflation heats up, even though Jerome Powell keeps insisting inflation isn’t really a problem. In a recent podcast, Peter Schiff said that the truth is the Fed is between a rock and a hard place. It couldn’t fight inflation even if it wanted to. Doing so would kill the economy. The only other choice is to surrender to...

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Hiding the Harm of Minimum Wage Laws in a Sea of Data

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...

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Peter Schiff: This Was Not a Strong Jobs Report

The Labor Department released its February jobs numbers on Friday. The numbers were better than expected and the official unemployment rate ticked down. The mainstream spun it as more good news and another sign that the economy is on the upswing. But in his podcast, Peter Schiff broke down the numbers and came to a completely different conclusion  – this was not a strong jobs report.The consensus expectation was for a gain of 175,000 jobs. The actual numbers beat expectations, coming in...

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Fun on Friday: Would You Steal From This Dude?

Do you know what’s pretty ballsy? Stealing from a professional wrestler.Yeah, I know pro wrestling is fake. (No, really, it is.) But that doesn’t change the fact that pro wrestlers are big, strong athletes.In fact, before he went into fake wrestling, Kurt Angle was a real wrestler and won an Olympic gold medal in the sport. And that brings us to a WWE fan with sticky fingers and apparently not too much common sense.When Angle started in WWE, he used his gold medal as a prop. Yes. The real...

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At Least Somebody Gets It! SchiffGold Friday Gold Wrap Podcast March 5, 2021

Gold faced more selling pressure this week as the mainstream continues to labor under the misguided notion that the Federal Reserve is going to tighten monetary policy sooner than expected to deal with inflation. Friday Gold Wrap podcast host Mike Maharrey has been arguing the Fed is not going to tighten; it’s going to ramp up quantitative easing to keep rates down. This week, he shares some insights from a mainstream analyst who gets it too.The SchiffGold Friday Gold Wrap podcast...

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Silver Demand in Auto Industry Expected to Surge and Other Silver News

The use of silver in the automotive sector is expected to surge in the coming years, according to the feature story in this month’s edition of the Silver Institute’s .With modern cars using more silver than ever in their advanced technology components, analysts project the auto industry will likely need nearly 90 million ounces of silver annually by 2025.In four years, silver consumption in the automotive sector should rival that of the photovoltaic (solar) industry. The solar energy...

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