Peter's Blog

Fed Up Friday: July 23-29

In case you missed it, here’s what the Fed’s been up to this week. Gold Prices Spike after Fed Announcement It was a big week for being fed up with central banking. The Fed’s July meeting and the FOMC’s statement were on Wednesday. As expected, the plans for a rate increase were put on hold, and […]

Beware of Impending Gold Production Cliff

Last week, we reported on an oft-ignored fundamental in the gold market – the shrinking supply. Mining.com analyzed the data and concluded there are no more easy gold discoveries. In fact, the number of major gold discoveries is shrinking. This week we have further evidence that the supply of gold is being squeezed. In fact, […]

The Fed: We Came, We Saw, We Did Nothing – The Mainstream Is Catching On to the Game

Once again, the Federal Reserve came, saw, and did nothing. This has become modus operandi for the Fed over the last two years. As each FOMC meeting approaches, speculation about a possible rate hike ramps up and then the Janet Yellen does…nothing. The one exception was last December, and that turned out to be a […]

The World Is Awash in Record Levels of Quantitative Easing

The Federal Reserve stayed pat on interest rates in its most recent meeting, but speculation continues to percolate that the central bank will possibly raise rates in September. Peter Schiff has been saying for months that the Fed won’t raise rates. He reiterated this on his most recent podcast. (Scroll down to listen to the […]

Thomson Reuters Raises Gold Price Forecast as Westerners Buy Gold

Over the last year, we’ve reported extensively on the growing influence of China on the world gold market, and the flow of gold from the West to the East. But with uncertainty created by Brexit, economic stagnation, and the proliferation of negative yielding bonds, it appears investors in the West have rediscovered the beauty of […]

2016 Olympic Medals Not Backed by Gold

The highly-anticipated Rio Olympics begins next week (August 5th), and with it, a race for the gold. Soon, Olympic winners will be standing on the podium donning their gold, silver, and bronze medals and waving towards a roaring crowd. Nothing is more iconic of the Games than these medals draped around the winners’ necks. But […]

Mining CEO: Silver in a Sweet Spot

Between Jan. 1 and July 11, the price of silver increased 44.7%. But can the white metal maintain its bull run? A prominent mining CEO thinks it can – and will. Mining, Inc. CEO Mitchell Krebs told Kitco News that he expects the precious metals sector to attract even more investor interest through the second […]

China and Russia Still on Gold Buying Spree

After a brief pause in May, the Chinese and Russian central banks resumed their gold buying spree in June. The People’s Bank of China added about 15 tons of gold to its stash last month. The Chinese central bank now officially holds about 58.62 million ounces of gold. China has bought gold in 11 of […]

Fed Up Friday: July 16-22

As the saying goes: “Keep your friends close, and your enemies closer.” Here’s a quick look what the Fed’s been up to this week. Philly Fed Shows Drop in Manufacturing This week the Federal Reserve Bank of Philadelphia released the results of its Manufacturing Business Outlook Survey. The Survey of regional manufacturers showed general activity […]

Plan to Solve Puerto Rican Debt Crisis Already Off the Rails

Efforts to solve the Puerto Rican debt crisis have already run off the rails. Late last month, Congress passed a bill allowing Puerto Rico to restructure its debt. Under the plan, the US territory essentially declared bankruptcy. The US government won’t expend funds to bail out Puerto Rico, but will allow the island’s government to […]