Peter's Blog

Piketty’s Inequality Con

If you ask a liberal politician who their favorite economist is, there are three likely responses. One response is a panicked change of topic. From the slightly more sophisticated politicians who skim the New York Times, you might hear Paul Krugman. From the politicians who style themselves intellectuals of the left, you’d hear Thomas Piketty.

The End of Japan’s Negative Interest Rates: What It Means for Gold

The Bank of Japan’s historic move to end the country’s negative interest rate policy after nearly two decades triggered a jolt upward to new all-time highs for gold against the yen. But what are the implications for gold in the medium and longer term? The answer is far from simple. 

The BLM’s Quiet War on Precious Metals

The Bureau of Land Management is a federal agency that controls 245 million acres of land and controls 30% of the country’s mineral resources. On the East Coast, it manages little land but manages an enormous share of Western states. It owns over two-thirds of Nevada. This gives the federal government enormous sway over the West. Want […]

PIMCO: The Fed Needs More Unemployment

Analysts at PIMCO say that for the Fed to reach its goal of lowering inflation to 2%, we need fewer people to be employed. Reduced incentives to offer raises and bonuses and less spending from the “resilient” American consumer can help cool down inflationary pressure. But there’s an elephant in the room: Why do we let a […]

Junk Bond Default Surge Continues in 2024

Consumers aren’t the only ones defaulting on their debts: Corporate bond defaults were up massively in 2023, especially for high-risk junk debt, and the trend is continuing this year at a pace not seen since the 2008 global financial crisis. Unsurprisingly, companies selling low-rated junk debt are being hit the worst.

Bankruptcy Laws Plus Inflation Equals Scam

At the end of 2022, investors all around the world who had bet big on cryptocurrency and had their cryptocurrency stored by the crypto exchange, FTX, received bad news. Sam Bankman-Fried and other leaders of the exchange had been using cryptocurrency that was supposedly stored by the exchange to make bets on financial markets. And the […]

Student Loan Forgiveness is Robbing Peter to Pay Paul

With President Biden’s Saving on a Valuable Education (SAVE) plan set to extend more student loan relief to borrowers this summer, the federal government is pretending it can wave a magic wand to make debts disappear. But the truth of student debt “relief” is that they’re simply shifting the burden to everyone else, robbing Peter […]

$1 Trillion Per 100 Days: Is This the Year the Debt Bubble Explodes?

With a stunning trillion dollars added to the national debt in only three months, projected to reach an incomprehensible $54 trillion within 10 years, and America’s interest payments on track to exceed defense spending next year, the question must be asked: How much longer can the debt bubble go?

What Dollarization Says About Returning to the Gold Standard

Everyone’s heard of Javier Milei, the new president of Argentina, called by Fox News the world’s first libertarian president. He has been in the news for his denunciation of leftism, Marxism, and the sprawling bureaucracy that has trapped Argentina in debt. He’s also taken aim at run-away inflation in Argentina. Inflation in the last year was […]

Ron Paul: Fed’s “Dollar Destruction” and Moral Crisis

Ron Paul’s recent op-ed from the Ron Paul Institute for Peace and Prosperity, reprinted in the Orange County Register, breaks down the profound damage caused by central bank money printing: it pits savers against speculators, encouraging consumers to use debt to fund basic needs since their savings are constantly evaporating due to monetary debasement.