Peter's Blog

They Expected Inflation to Come in Hot in October; It Came in Sizzling

The consumer price index was expected to come in hot yet again in October. It came in sizzling. The actual CPI numbers for last month were even hotter than expected as “transitory” inflation remained well above 5% on an annual basis for the sixth straight month.

Solar Energy Development Expected to Boost Silver Demand

Last week, Australia, France, India, the US and the UK announced the launch of the “One Sun, One World, On-Grid” initiative. The plan is to connect solar energy grids across borders. This could provide a big boost to silver demand.

Strong Chinese Gold Demand Continued in October

Gold demand remained strong in October according to the latest data released by the World Gold Council. Both gold withdrawals from the Shanghai Gold Exchange (SGE) in October and gold imports in September were up year-on-year, and Chinese ETF gold holdings set a new record. These all signal that the Chinese gold market continues to […]

Inflation Expectations Have Become Unanchored

American consumers aren’t buying the transitory inflation narrative. Even after five straight months of annual CPI increases over 5%, Jerome Powell continues to insist inflation is “transitory” and the result of a “supply chain problem.” But according to the New York Federal Reserve Survey of Consumer Expectations, people aren’t buying this story. They expect inflation […]

As Prices Rise, Americans Turning to Credit Cards

American consumers piled on more debt in September as higher prices squeezed wallets. Consumer credit grew by $29.9 billion in September, bringing the total to $4.37 trillion, according to the latest data from the Federal Reserve. The increase in consumer debt nearly doubled the consensus estimate of a $15.5 billion increase.

The Mainstream Has the Inflation Story Backwards

The mainstream blames inflation on “supply chain bottlenecks.” But they have it completely backward. In reality, Federal Reserve-created inflation is causing the supply chain mess.

Silver’s Growing Role in Global Connectivity and Other Silver News

The use of silver in electronics and electrical applications is expected to rise by 10% over the next five years. And this doesn’t include the expected demand increase for silver in the solar energy sector. This is one of several silver-related stories covered in the latest edition of Silver News published by the Silver Institute.

Peter Schiff: We Can’t Ignore These Record Trade Deficits Forever

Trade deficits used to be an important market mover. In fact, many blame the 1987 stock market crash on a much worse than expected trade deficit. That led to weak dollar and bond markets that bled over into the stock market. But today, traders mostly ignore the trade deficit. In fact, the US trade deficit […]

How Much Gold Is There in the World?

How much gold is there in the world? The simple answer — not much! Scarcity is one of the characteristics that give gold value.

As “Transitory” Inflation Persists More Companies Raising Prices to Offset Surging Costs

Consumers have been hit hard in the wallet by inflation this year, with CPI up 5.4% year-on-year in September. But consumer prices are only part of the inflation equation. Producers of goods and services also face rising prices in an inflationary environment. Producer price increases have been even more dramatic than the rise in CPI, […]