Peter Schiff

Printing money was the cure. Now it's the disease, and the next crisis arrives with no medicine left. youtu.be/PpGb-f_UYBg?utm_sou…

This is the most brilliant political ad I've ever seen. Democrats are telling Republicans why the Republican candidate is bad and the Libertarian candidate, whom most Republicans have never even heard of, is worse. The ad, paid for by the Ohio Democratic Party and authorized by Friends of Sherrod Brown, describes the Republican incumbent as voting for reckless government spending that increased the national debt, which is true and should upset conservative Republicans. But it also accuses the Libertarian candidate of being an outsider who doesn't belong in D.C. because he wants to abolish the IRS and replace it with a flat tax, balance the federal budget, cut wasteful government spending, defend the Constitution, and support gun rights no matter what. In other words, the Libertarian actually stands for what conservative Republicans support. The purpose of the ad is not to win votes for the Democrats, but to persuade Republicans to either vote Libertarian or not vote at all. I think it will work.

A principled conservative would be against federal aid to any state. The federal government should not be taking money from one state and giving it to another. But Trump wants to make socialism even worse by only redistributing wealth to states that elect Republicans to Congress.

Despite what Trump claims, he will not veto anything the Democrats pass. He will not deny voters free stuff and allow Democrats to exploit that as a campaign issue in 2028. He will give Democrats everything they want so he can blame Congress for the economic disaster that ensues.

The odds of the Democrats winning the Senate are now 71%, a new high. If the stock market crashes on Monday expect those odds to rise further. The problem for Republicans is that they have to lie that a bad economy is good. Democrats just have to lie that they can make it better.

Today's near $150 decline in gold and over $3 drop in silver are ridiculous. Clearly this has to do with a short-term liquidity problem that will likely show up in the broader markets perhaps as soon as next week. In the meantime, it's an unexpected gift to investors to buy more!

When asked why the Fed didn't hike rates in September, given its current outlook on the economy and inflation, Warsh did not answer the question. He responded to the question, but his response really didn't constitute an answer. That's because he doesn't want to tell the truth.

Warsh claims the Fed finally owns the inflation problem and that this time it's actually committed to solving it. But other than making superficial changes, there have been no substantive changes to past monetary policy that failed to return inflation to the Fed's 2% target.

I think Warsh knows the U.S. economy is not strong but teetering on the brink of recession, but he doesn't want to undermine Trump's claim that it's booming. That's why he is only talking about small rate hikes, not delivering the large hikes necessary to actually slow inflation.

This week Warsh gave an extremely upbeat assessment of the U.S. economy and labor market, admitted that current Fed policy was accommodative and that inflation was still too high. Yet he claimed the Fed was waiting to accumulate more information before hiking rates again. Why?

Four years and five months ago today, my completely solvent bank was shut down under the pretense that it was critically insolvent. Internal IRS emails obtained through a FOIA lawsuit confirm that corrupt IRS agents conspired with a corrupt Puerto Rican OCIF commissioner to carry out the shutdown so the J5 could frame the bank for facilitating tax evasion and money laundering and take credit for stopping crimes it knew were not being committed. To facilitate this fraud, the OCIF commissioner claimed that shutting down my bank and putting it into receivership was an emergency measure to protect customers. But the truth was that not a single customer's account was at risk, and every customer could have withdrawn their entire balance without issue the day the bank was put into receivership. However, it took over three years after the bank was put into receivership for the first customers to receive even one penny, and since then, only a tiny fraction of the bank's customers have been paid. The biggest winners are the OCIF-appointed trustee, who has parlayed his lack of any prior banking experience into a windfall of nearly a million dollars by delaying the return of customers' deposits for as long as possible, and Brent De Jong of Qenta, whom the trustee has allowed to get away with stealing millions from the bank customers.

If the stock market crashes on Monday, it would cement a Democratic sweep on Tuesday. Ironically, a crash that helps Democrats win may be driven by investors pricing in that outcome, as Democrats will likely raise corporate taxes and be more fiscally reckless than Republicans.

Gold & silver are at new lows for the year. Gold is down over $80, trading below $3,940, breaking the June low. Silver is down over $2.50, trading just above $49.50, below $50 for the first time in 2026. I didn't expect it to trade this low again. Buy now! schiffgold.com