Peter's Blog

Federal Reserve Debt Monetization: Financial Fraud on a Biblical Scale

Not too long ago, the national debt pushed above $30 trillion. Today, Uncle Sam is $30.26 trillion in the red. And he’s on the fast track toward $31 trillion. Today, most people don’t bat an eye at the national debt. But that wasn’t always the case. As David Stockman pointed out there was a great […]

ETFs Chart Strong Inflows of Gold for Second Straight Month

Gold flowed into gold-backed ETFs for the second straight month in February. Net inflows of gold into ETFs globally totaled 35.3 tons last month. Total ETF gold holdings globally ended February at 3,650.6 tons, according to the latest data from the World Gold Council.

Bank Run in Russia as People Try to Access Cash

As economic sanctions began to put a stranglehold on the Russian economy, long lines formed at banks and ATMs as everyday people tried to pull cash from their bank accounts. A Russian economy expert from the Foreign Policy Research Institute called it “a full-fledged bank run.”

Inflation Continues to Chew Up Your Paycheck

Inflation continues to chew up your paycheck. While consumer prices rose 0.7% in January, income from all sources, including wages, salaries, interest dividends, rental income, unemployment, Social Security, etc. was essentially flat. And when adjusted for inflation, real personal income fell by 0.5%.

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. […]