Peter's Blog

China Realizes IMF Goal; What’s Next?

After months of speculation, the Chinese yuan is now officially part of the International Monetary Fund’s benchmark currency basket, elevating it to reserve currency status. Chinese monetary policy has focused on gaining entry into this elite club for the last year or so. With its membership safely secure, it raises an interesting question. What’s next? […]

eBay Gold and Silver Sales Booming; Buyers Beware

You probably think of eBay as a good place to snag a deal on electronic gadgets, musical instruments, or sporting goods. But increasingly people are logging onto the auction site to buy gold and silver.   EBay officials told CNBC the company is touting its global user base of 150 million people to reach non-traditional […]

Black Friday: American Exceptionalism in Action (Video)

Black Friday has become an infamous holiday of American consumerism. We seem equally amused and disgusted by the inevitable news of crowds waiting through freezing nights only to trample each other on the way to a discount toaster. Many people watch a video of Black Friday fights like the one below and shake their heads […]

2015 Gold Eagles Sell Out as Demand Remains Strong

On Tuesday, the US Mint announced it has sold out of one-ounce 2015 American Gold Eagles. Mint officials say they don’t plan to produce any more at this time. Earlier this month, the mint announced it had run out of one-tenth and one-fourth ounce Gold Eagles. The tremendous demand for gold bullion coins we’ve seen […]

Student Loan Forgiveness Loophole Foreshadows Looming Crisis

A federal program that will soon forgive billions of dollars in student loans illustrates the ineptitude of government planning and foreshadows bigger problems down the road. The Public Service Loan Forgiveness (PSLF) Program erases the balance on student loans after the debtor makes 120 monthly payments while working full-time for a qualifying employer. The program […]

Solar Power Demand Forecast to Boost Silver Prices

Increased demand for solar power is forecast to put significant upward pressure on silver prices in the years to come. CNBC recently reported on the strong potential in the solar industry as governments continue a concerted drive to reduce global carbon dioxide emissions: While the solar industry just accounts for just 6% of overall physical […]

Scammers Pick Pockets with Silver Bars Advertised as “Real Steal”

The headline on the Pittsburgh Tribune-Review website says it all – “Collectors willing to overpay for silver.” The article highlights an ongoing silver scam in Pennsylvania and other states featuring “US State Silver Bars.”

Economic Realities Driving Mexicans Home

Mexican immigrants are going home. For the first time in more than 40 years, more Mexicans are leaving the United States than entering. Citing a Pew Research Center report, USA Today notes that from 2009 to 2014, an estimated 870,000 Mexicans came to the US, while 1 million returned home. That represents a net loss for […]

Student Loans Sold on Lies

More than 80,000 student loan debtors can now apply for loan forgiveness through the US Department of Education after the conclusion of an investigation into now defunct Corinthian Colleges this week. The company once owned more than 100 for-profit colleges. It filed for bankruptcy in May in the wake of a probe into its practices. […]

Silver Market Heading for Third Straight Annual Physical Deficit

The silver market will likely face its third consecutive annual physical deficit in 2015, according to the recently released Interim Silver Market Review by Thomson Reuters. A drop in supply due to flat mine production and a spike in demand for silver coins are among the factors figuring prominently in the predicted physical deficit. Silver […]