The Dow Jones fell 831 points Wednesday, a decline of more than 3%. Meanwhile, the S&P 500 charted its biggest daily decline since February and the Nasdaq Composite dropped 4.08 percent. This follows on the heels of a 200-point drop in the Dow last week after the 10-year US Treasury yield hit the highest level since 2011.

In a podcast last week, Peter Schiff said rising interest rates could serve as the pin that pricks the stock market bubble. …


US stock markets plunged Wednesday, shedding over 800 points. Could the be the popping bubble Ron Paul recently said was on the horizon? That remains to be seen. But equities in many emerging markets have been shedding value for several months. Take India for instance. As a recent article in the Economic Times of India put it, “Asset classes are in a state of churn. One look at the chaos in domestic equities is enough to suggest that not all is well with this segment.”

So what are Indian investors doing? Buying gold.

India’s NSE equity index has fallen 7%…


The mainstream is giddy about the “booming economy.” We have rising stock markets, continued job creation and solid GDP growth. But Ron Paul recently appeared on CNBC Futures Now and threw a big bucket of cold water on the mainstream narrative. He said we are barreling toward a recession.

Ron said he thinks a big crash is coming. He’s not saying it will necessarily happen in the next six months, but the groundwork is already in place.

The recession is set in place by the inflation and the distortion of interest rates which have been going on now for too…


Most of the mainstream view the gold standard as an archaic relic from a bygone era. At best, a return to some kind of gold standard is unnecessary. At worst, it would plunge the world into economic chaos.

Conventional wisdom holds that a gold standard would make boom-bust cycles worse. (This is a myth.) Paul Krugman even tried to claim the gold standard prolonged the Great Depression. (Economist Bob Murphy shreds this fallacy in his It’s Your Dime interview with Mike Maharrey.) …


Peter Schiff recently appeared on RT Boom Bust, along with Investor’s Advantage Corporation founder John Grace, to talk about the recent jobs report. Peter summed things up with a dire warning. Stagflation is coming and it’s going to be worse than 2008.

The number of jobs in the September report created came in below expectations, but the unemployment rate dipped to “the lowest level since 1969.” Wages were up 0.3%.

Grace opened things up asserting that wage growth is not keeping up with the pace of inflation. He said that in order to keep pace with rising prices over…


Americans continue to pile up debt, adding to numbers that were already at record levels.

US consumer debt increased by $20.1 billion in August, pushing total consumer credit to a record $3.94 trillion, according to the latest numbers from the Federal Reserve. That comes to a 6.2% annual growth rate.

These figures include credit card debt, student loans and auto loans, but do not factor in mortgage debt.

Americans are still burning up those credit cards. Revolving credit balances swelled by another $4.8 billion in August after a $1.4 billion increase in July. Americans’ credit card balances are growing by…


SchiffGold’s It’s Your Dime features “straight talk” interviews with movers and shakers in the world of precious metals, investing and economics.

In this episode, host Mike Maharrey talks with economist Bob Murphy about his Contra Krugman book, how Keynesian economics goes off the rails, the time Paul Krugman ridiculously compared HealthCare.gov to UPS, the trade war, the gold standard and the Great Depression, Bob’s favorite Krugman flip-flops, and more.

Robert P. Murphy holds his Ph.D. in economics from NYU and is well-known as the cohost of the Contra Krugman podcast with Tom Woods. He recently released the Contra Krugman…


The end of last week was tough on US stock markets. The Dow fell off about 200 points on Thursday and another 180 on Friday. But despite those drops, the Dow was only down slightly on the week. The NASDAQ, on the other hand, fell more than 3% last week and the S&P 500 was off about 1%.

As Peter Schiff pointed out in his most recent podcast, the catalyst was rising interest rates, which the markets have been basically ignoring up until last week. Granted, the stock market drops weren’t steep compared to an October crash, but there is…


The SchiffGold Friday Gold Wrap podcast combines a succinct summary of the week’s precious metals news coupled with thoughtful analysis. You can subscribe to the podcast on iTunes.

The yield on the 10-year Treasury hit its highest level in seven years this week. In other words, interest rates are going up. This isn’t good news in a world flooded with debt. But most of the mainstream still seems pretty unconcerned, especially Trump supporters. They’re convinced the president has fixed the economy. Unfortunately, they don’t understand all of the dynamics and they are tripping down a primrose path to ruin…


Death-spiral — The downward, corkscrew-motion of a disabled aircraft which is unrecoverably headed for a crash.

The US federal government may well be in a death spiral — or perhaps we should call it a debt-spiral.

I was looking back over the posts for this week and noticed something significant. The headline for our second post on Oct. 3 reads, “Federal Government Runs Up Sixth-Largest Single-Year Debt Increase in US History” On Oct 4, the very next post, the headline reads, US Treasury Yields Hit Seven-Year High; Rising Interest Rates Could Be Bad News in Debt-Ridden Economy. …

Peter Schiff

Peter Schiff is an internationally recognized economist specializing in the foreign equity, currency and gold markets.

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