Peter's Blog

Stagflation Warning: Atlanta Fed Cuts Q1 GDP Projection to Zero

On Tuesday, the Atlanta Fed cut its GDP estimate for the first quarter of 2022 to zero. Just a few days ago, the estimate was for 0.6% growth. That was down from 1.3% just a few days before that. This is not an encouraging trend.

Demand for Gold in Tech Sector Rebounds After Lockdowns

Gold demand in the technology sector rebounded rapidly in 2021 after falling the prior year due to economic lockdowns and the pandemic. In 2021, tech sector gold demand grew by 9% to 330 tons with year-on-year growth in all four quarters, according to data from the World Gold Council. Tech demand in 2021 was about […]

Global Silver Demand Expected to Reach All-Time High and Other Silver News

Global silver demand is expected to reach a record high of 1.112 billion ounces in 2022. This is one of several silver-related stories in the latest edition of Silver News published by the Silver Institute.

War on Cash Warning: Canada’s Major Banks Mysteriously Go Offline

What would you do if you went to the ATM and found that you couldn’t access the money in your bank account? Many Canadians recently suffered this unsettling experience. Customers of five major Canadian banks reported mysterious online banking outages last week after Canadian Prime Minister Justin Trudeau announced he was invoking emergency powers in […]

It’s Another Housing Bubble and the Fed Is Holding the Pin

Are we heading toward housing crisis 2.0? That remains to be seen. Two things are for certain. This is a massive housing bubble. And the Fed is holding the pin.

A Bunch of Bull(ard): SchiffGold Friday Gold Wrap Feb. 18, 2022

There was more bad inflation news this week. So, the Fed is about to ramp up the inflation fight, right? Not so fast. In this episode of the Friday Gold Wrap, host Mike Maharrey argues that the central bank isn’t set to go to war with inflation because it can’t. And he explains how St. […]

Producer Price Increase Doubles Expectations in January

Federal Reserve Chairman Jerome Powell “retired” the word “transitory” as it relates to inflation back on Nov. 30. Just two-and-a-half months later, we’re seeing a new word bandied about to describe inflation — persistent. Less than a week after the January CPI data came in even hotter than anticipated (again), we got yet another signal […]

Chinese Gold Consumption Boomed in January

Chinese gold consumption boomed during the January holiday season. This continued the 2021 trend where Chinese gold demand climbed back above prepandemic levels.

Silver Demand Expected to Hit Record High in 2022

After a strong 2021, demand for silver is expected to hit a record high in 2022, according to the Silver Institute’s Global Demand Forecast. The Silver Institute projects silver demand will hit a record 1.112 billion ounces this year with growth in most key areas. That would represent an 8% year-on-year increase.

Central Banks Bought More Gold to Close Out 2021

Central banks globally added a net 14.2 tons of gold to their reserves in December, according to the latest data from the World Gold Council. Central bank gold buying was up 82% year-on-year. Turkey was the biggest buyer in December, adding 10.1 tons of gold to its reserves. That boosted the country’s total gold holdings […]