Peter's Blog

US Consumer Debt Continues to Balloon

Last summer, US Global Investors CEO Frank Holmes called debt “the mother of all bubbles.” That bubble continues to blow up. US consumer debt increased even more than expected in September. According to data released by the Federal Reserve, total credit rose by $20.8 billion, an annualized rate of 6.6%. Analysts had expected an increase in […]

Ron Paul: Republican Tax Plan Increases the Most Insidious Tax

Ron Paul has identified an increase in what he calls the “most insidious tax” buried in the GOP tax reform bill. A lot of Americans have put a lot of hope in tax reform. As Peter Schiff said in a recent Fox Business interview, the prospect of economic growth spurred by tax reform and other […]

Turkey on a Gold Buying Spree

Turkey is buying gold. The question is: why? According to a Bloomberg report, the Turkish central bank added 3.8 million ounces of gold worth almost $5 billion to its reserves this year.

Australian Gold Exports Surge Boosted By German Demand

Gold exports from Australia surged from August to September, according to data released by the Australian Bureau of Statistics (ABS). Non-monetary gold exports rose 17% in the period, an increase of $217 million in seasonally adjusted terms.

Another Swamp Creature to Head the Fed

Trump said he was going to drain the swamp. Apparently, the drain is clogged. Trump picked another swamp creature to chair the Federal Reserve. Jerome Powell got the nod to replace Janet Yellen when her term as Fed chair ends in February. As Tho Bishop at the Mises Institute put it, “this means Trump will ensure that, while […]

Silver News: Indians Buying Silver and New Technological Breakthroughs

Indians are buying silver and this could have a major impact on the world market for the white metal. The Silver Institute covers this story, and highlights several other technological innovations involving silver, in its latest issue of Silver News. It also features an interview with ICE Benchmark Administration COO Matthew Glenville. His company recently began administering the silver benchmark and […]

Is a Significant Drop in Gold Production on the Horizon?

During the Denver Gold Forum last September, the chairman of the World Gold Council said he thinks the world may have reached peak gold. That is the point where the amount of gold mined out of the earth will begin to shrink every year, rather than increase, as it has done pretty consistently since the […]

Gold Demand Surges in China as Production Sags

The Chinese are buying gold again after a slump in consumer demand last year. Meanwhile, Chinese gold production is falling. According to data released by the China Gold Association, gold demand rose 15.5% through the first three quarters of 2017. Demand totaled 815.9 tons, pushed upward by a resurgent jewelry market.

It’s a Phony Debate: Jim Rickards Weighs in on Bitcoin Vs. Gold

Financial guru Jim Rickards weighed in on the Bitcoin vs. gold debate and came down firmly on the side of the yellow metal. In fact, he’s said there really shouldn’t be a debate. Bitcoin and gold are two totally different things. Rickards responded to a recent note published by Goldman Sachs declaring that Bitcoin is not […]

US Savings Rate at Lowest Level Since the Great Recession

Americans are spending money, but it appears they are dipping into their savings to do it. According to data released by the US Bureau of Economic Analysis, savings last month fell to a level not seen since 2007. The 3.1% rate in September was the lowest since it dipped to 3.0% in December 2007. In […]