Peter's Blog

Tanzania Central Bank Announces Plan to Buy More Gold

The Bank of Tanzania plans to buy 12 tons of gold during the fiscal year in an effort to boost its foreign exchange reserves. The East African nation joins a growing number of central banks turning to gold.

Jim Grant: We’ve Yet to Feel the Full Consequences of the “Era of Free Money”

In a recent interview with Forbes, economic commentator and historian Jim Grant warned that we haven’t fully felt the inevitable fallout from the “free money era.” I think that the consequences of more or less 10 years of proverbially free money are going to play out in the credit markets.”

Outflows of Gold from ETFs Slowed Significantly in November

The flow of metal out of gold-backed ETFs slowed significantly in November, with North American ETFs charting gold inflows for the first time in five months. A total of 9 tons of gold flowed out of ETFs globally, but total assets under management increased by 2% thanks to the rise in the price of gold.

The Summer of Central Bank Gold Buying Extends Into the Fall

Central banks gobbled up gold over the summer and the buying spree has continued into the fall. Globally, central banks added another net 42 tons of gold to their reserves in October.

Silver Looks Like a Real Bargain Right Now

At the current price, silver is a real bargain. Gold went on a run late last week, setting an all-time record high last Friday and breaking the $2,100 level for a brief time in overseas trading Sunday night. Silver also rallied but continues to lag behind gold. In fact, silver looks significantly underpriced based on […]

Unrealized Losses at US Banks Exploded in Q3

Unrealized losses on securities held by US banks exploded by 22% in the third quarter. Of course, unrealized losses don’t really matter — until they do. This is yet more evidence that the financial crisis that kicked off last March continues to bubble under the surface.

“Resilient” American Consumers Cutting Back Spending, Running Up More Debt This Holiday Season

Holiday shoppers plan on cutting back on spending and piling on even more debt this year, and nearly a quarter of Americans still haven’t paid off their debt from last year’s holiday spending spree. These were just a few revelations in a recent WalletHub survey that indicates American consumers aren’t quite as “resilient” as pundits […]

The Fed Is Losing Billions and It Could Take Four Years to Make It Up

The Federal Reserve has lost well over $100 billion dollars, and even when it returns to “profitability,” it will likely take over four years before the central bank is completely in the black. And you’re going to foot the bill.

Chinese Investors Turning to Gold

Chinese investors are turning to gold. China Daily called the demand for gold “robust” through the first three quarters of 2023 and said it is expected to continue “as economic and geopolitical uncertainties may drive up investors’ purchases of safe-haven assets.”

Fed Bank Bailout Program Borrowing Surged in November

The financial crisis that kicked off in March continues to bubble under the surface. Total outstanding loans in the Federal Reserve’s bank bailout program jumped by just over $5 billion in November.