Peter's Blog

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.

The Government Stimulus Sugar High

The US government has pumped trillions of stimulus dollars into the US economy giving us a massive sugar high. It felt good at the moment, but after the initial rush, you always experience a crash. It looks as if we’re already coming down off the high. May retail sales disappointed, dropping 1.3% after big stimulus-fueled […]

Political Hypocrisy Provides Cover for Fed on Inflation

From 2016 to 2020, Republicans were constantly trying to play up the economy. You’ll recall Donald Trump claiming it was the greatest economy in history. Meanwhile, Democrats were trying to play it down. Now, the roles have reversed. Since the Democrats own the economy now, they’re talking about how great the recovery is while Republicans […]

The World’s Top 10 Gold Producers in 2020

Who produces the world’s gold? Gold production fell again in 2020. According to the World Gold Council, gold production came in at 3,478 tons last year. That compares with mine output of 3,597 tons in 2019.

The Government Doesn’t Actually Budget

President Biden has proposed a borrow and spend “to infinity and beyond” budget featuring $6 trillion in government spending. That’s the largest amount of spending ever proposed in a presidential budget. It’s not accurate to call it a “budget.” The federal government has given up on actual budgeting.

Fed Chair Jerome Powell Sticks to Dovish Script During Congressional Testimony

Federal Reserve Chairman Jerome Powell testified before Congress on Tuesday and continued to peddle the “transitory” inflation narrative. Keeping with the dovish tone set after last week’s FOMC meeting, Powell reiterated that the central bank is not going to rush to raise interest rates, and he said the Fed would not hike rates merely in […]

What Does the Fed Know About the Future?

Central bankers at the Federal Reserve are talking a lot about what’s going to happen in the future. But what do they really know about what lies ahead? The fact is, they don’t know a whole lot. But we do know one thing for sure – the debt in the US isn’t going away. It’s […]