P David Schiff @p_schiffs

Joined February 2013

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Peter Schiff @PeterSchiff

2 weeks ago

Powell admitted the Fed has no idea where inflation will be in the future. At any point in time, they just assume it will return to their 2% target in two years. This is not really a forecast, but a goal. In reality, it’s wishful thinking disguised as a legitimate forecast.

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Peter Schiff @PeterSchiff

2 weeks ago

Trump just claimed that an unprecedented $17 trillion will be invested in the U.S. over the next year because we have the hottest economy in the world. If true, GDP growth would explode by roughly 50% and the dollar would skyrocket from capital flows. So the claim is clealry BS.

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Peter Schiff @PeterSchiff

2 weeks ago

As I warned, now that the Fed has cut short-term rates by 25 basis points, long-term rates are rising. The yield on the 10-year Treasury is back to 4.14%. It was down to 4.02% the day prior to the rate cut. I think yields are headed back up to 5%. The Fed’s going to restart QE!

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Peter Schiff @PeterSchiff

2 weeks ago

Morgan Stanley has revised the classic 60/40 portfolio by splitting the 40% that was traditionally allocated to bonds with gold. So it’s now the 60/20/20 portfolio. If investors follow this advice, both long-term interest rates and gold prices are headed much higher.

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Peter Schiff @PeterSchiff

3 weeks ago

Scott Bessent said that the Fed doesn't have a dollar mandate, but an inflation mandate. But inflation by definition relates to the purchasing power of the dollar. As the dollar loses purchasing power, more dollars are required to buy the same stuff. The result is rising prices.

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Peter Schiff @PeterSchiff

3 weeks ago

One of the dumbest ideas offered by Republicans is to "gift" the tariff revenue back to taxpayers. If Republicans want taxpayers to have the tariff revenue, then don't impose tariffs on them in the first place. That's a much simpler, more effective, and honest solution.

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Peter Schiff @PeterSchiff

3 weeks ago

Some claim we need lower mortgage rates as home prices are at record highs and affordability is at record lows. You can't have low mortgage rates with inflation this high and federal deficits this large. The only viable solution is lower home prices. Fed rate cuts will backfire.

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Peter Schiff @PeterSchiff

3 weeks ago

The irony is the shooter thought Charlie Kirk was a fascist. But Kirk supported free markets. Fascism is state control of private enterprise through regulation and taxation, a system the far left actually embraces. By definition, the shooter’s own politics were closer to fascism.

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Peter Schiff @PeterSchiff

3 weeks ago

Silver is trading above $42.20. Gold is back above $3,650. While these prices may seem high, by next year they will look ridiculously low. The reason prices are not already much higher is that most people don't see what's coming. When they finally notice, panic buying will ensue.

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Peter Schiff @PeterSchiff

a month ago

Gold is already at a new record high, just below $3,460 and silver blew past $40, trading just under $40.20. Prices for both metals may be much higher by the time U.S markets open on Tuesday. Bitcoin will likely head in the opposite direction. Look out below!

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Peter Schiff @PeterSchiff

a month ago

This is starting to get interesting. Gold is now up almost $30, about to hit $3,480. Silver is up over 70 cents, about to hit $40.50. Meanwhile, Bitcoin is back below $108,000 and looks poised to go much lower. Gold and silver breaking out is very bearish for Bitcoin.

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Peter Schiff @PeterSchiff

a month ago

If Trump's tariffs are as beneficial and critical as he claims, there is nothing stopping the Republican Congress from following the Constitution, legally passing the tax increase, and allowing the president to sign it into law.

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Peter Schiff @PeterSchiff

a month ago

The main factor driving gold and bond yields higher is the prospect of the Supreme Court destroying Fed independence. The Court may rule that FOMC members must serve at the pleasure of an elected President, who has the power to fire them at will, as long as he identifies a cause.

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Peter Schiff @PeterSchiff

a month ago

The yield on the 30-year U.S. Treasury is back up to 4.98% and will soon rise above 5%. This isn't happening despite the Fed’s intention to cut rates, but because of that intention. Surging gold prices also confirm that any rate cuts will send long-term and mortgage rates higher.

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Peter Schiff @PeterSchiff

a month ago

Gold is up $180 over the past five trading sessions, and silver is up over $2.50. Fed officials are blind to this clear vote of no confidence in their policy pivot. It also shows a loss of confidence in the U.S. economy and our ability to ever get our fiscal house in order.

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Peter Schiff @PeterSchiff

a month ago

Despite the sharp move up in gold and silver prices, so far there are no signs of excessive speculation. Despite solid gains today in the $GDX and $GDXJ, many individual names are trading lower as investors take profits. Don't sell your miners. It's far too early to take profits.

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Peter Schiff @PeterSchiff

a month ago

CNBC aired a segment today on gold's rise above $3,570 and what it might imply about stock market sentiment. But they ignored the bigger implication that gold’s rise might reflect a loss of confidence in U.S. fiscal and monetary policy, and a mass exodus from dollars into gold.

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Peter Schiff @PeterSchiff

4 weeks ago

Just 22K jobs were added in May, as Mfg. lost 12K. The unemployment rate rose to 4.3%, but U6, which is more consistent with historic methodology, rose to 8.1%. The actual rate is over 10%. The Trump economy is worse than Biden's, with a weaker labor market and rising inflation.

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Peter Schiff @PeterSchiff

4 weeks ago

The labor market has not been this weak since the depths of the GFC and the 2020 pandemic lockdowns. Payrolls actually fell by 13k in June and the three month average is just 29k. Since last month's "rigged" report was just revised even worse, who will Trump fire next?

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Peter Schiff @PeterSchiff

4 weeks ago

For months Powell claimed the U.S. labor market was strong. We now have official confirmation that it’s only been weaker during major recessions. His forecasts on inflation coming down will prove just as inaccurate. We are on the cusp of the greatest stagflation in U.S. history!