Peter's Blog

China’s Gold Market Continues to Recover

Chinese gold imports have nearly returned to pre-pandemic levels and the world’s biggest gold market continues to recover. According to the latest data reported by the World Gold Council, China imported 67.6 tons of gold in May. That was 65 tons higher than May 2020 and only three tons lower than May 2019, before the […]

US Government Spending Sure Isn’t Transitory

The mainstream narrative is that the Fed will soon admit that inflation isn’t transitory. At that point, it will raise interest rates and taper its bond-buying program to fight rising prices. But this narrative ignores the elephant in the room – the ever-increasing national debt. In June, the US government ran another big deficit of […]

“Transitory” Inflation Comes in Hotter Than Expect. Again.

For the sixth month in a row, Consumer Price Index (CPI) data came in much higher than expected. But the question remains: how long will the Fed keep up the “transitory” inflation narrative? And when they do abandon this storyline and acknowledge inflation, what can the central bankers really do about it? The CPI surged […]

Many Indians Depend on Gold to Stay Afloat During Pandemic

Gold has served as a lifeline for Indians pummeled by the economic storm caused by the government response to the coronavirus pandemic. The Indian government’s response to the first wave of COVID-19 ravaged the economy. As a result, many banks were reluctant to extend credit due to fear of defaults. In this tight lending environment, […]

Stimulus Checks Run Out; Americans Whip Out Their Credit Cards

What do you do when that stimulus money runs out? You whip out the credit card. Consumer debt was up 10% in May, according to the latest data from the Federal Reserve, and we saw a big jump in credit card balances for the first time since February 2020.

ETFs Add Over 40 Tons of Gold in Q2

Gold-backed ETFs globally added 40.7 tons of gold in the second quarter of 2021, reversing a trend of significant outflows in Q1. In 2020, gold-backed ETFs recorded record net inflows of gold. Funds added nearly 231 more tons in 2020 than they did during the previous record year (2009/646 tons). But with declines in the price […]

IMF Chief Warns of “Sustained” Rise in US Inflation

Even with the CPI rising more than expected every month this year, Federal Reserve Chairman Jerome Powell continues to insist that inflation is “transitory.” But not everybody is buying Powell’s narrative. In a blog post published July 7, International Monetary Fund (IMF) Managing Director Kristalina Georgieva warned of a “sustained” inflation rise in the United […]

Demand for Silver in Printed Electronics Expected to Boom and Other Silver News

Demand for silver in the production of printed and flexible electronics is expected to increase 54% over the next 10 years according to the lede story in the most recent edition of the Silver Institute’s Silver News.

More Central Banks Dip Into Gold Market Adding Gold to Reserves

Central banks globally added another net 56.7 tons of gold to their reserves in May as more banks dip into the gold market, according to the latest data compiled by the World Gold Council. Gold-buying by central banks slowed last year from the record pace we saw in 2018 and 2019. That trend has continued […]

Fiat Money Creation vs. Real Money Creation

Have you ever stopped to think about the sheer volume of Federal Reserve money creation? Comparing fiat money creation to real money creation will give you some perspective.