Peter's Blog

Central Bank Digital Currencies: Another Front in the War on Cash

There has been a lot of talk lately about central banks implementing their own digital currencies. Why?

Silver Investment Demand Nearly Triples Through First Three Quarters of 2020

Holdings of silver in silver-backed Exchange-Trade Products (ETPs) rose by 297 million ounces through the first three quarters of 2020, according to data released by the Silver Institute. That’s nearly triple the level of silver inflows seen during the same period in 2019. Meanwhile, investors also had a strong appetite for silver bullion coins and […]

Why Do We Put So Much Faith in Central Bankers?

Well-known management consultant Peter Drucker perfectly described the predicament faced by central bankers. You can’t manage what you can’t measure.” So why do we put so much faith in central bankers?

2020 Budget Deficit Comes In at a Cool $3.13 Trillion

The fiscal 2020 budget shortfall totaled $3.13 trillion as Uncle Sam added another $124.6 billion to the deficit in September, according to the latest Monthly Treasury Statement. That more than doubles the previous record deficit of $1.4 trillion set in 2009 at the height of the Great Recession.

“Temporary” Layoffs Turning Into Permanent Job Losses

When governments across the US forced businesses to close down in response to the coronavirus pandemic, everybody assumed the layoffs would be temporary. Despite the huge surge in unemployment, the expectation was people would quickly return to work once the crisis passed and the economy opened up again. But as the pandemic stretches into its […]

Goldman Sachs: Dump Dollars and Buy Silver

Sell dollars and buy silver. That’s Goldman Sachs’ recommendation. We’ve been warning about a dollar collapse. Now the mainstream is even getting bearish on the dollar.

Corporate Bankruptcies Surge; Small Businesses Simply Shutting Down

As pundits and politicians continue to speculate about economic recovery, hundreds of companies large and small are struggling under loads of debt, filing for bankruptcy and closing their doors. In September, 54 more large companies filed for bankruptcy, according to S&P Global intelligence. A total of 509 companies have gone bankrupt this year as of […]

Inflows of Gold Into ETFs Tops 1,000 Tons on the Year

Globally, ETFs added gold for the 10th straight month in September and pushed total inflows to over 1,000 tons on the year. The previous yearly inflow record was 646 tons set back in 2009. Gold ETF holdings increased by 68.1 tons last month, despite the metal’s worst monthly price performance since November 2016, according to […]

Seven Central Banks Increase Gold Reserves

Gold-buying by central banks has slowed from the record pace we saw in 2018 and 2019, but many countries continue to load up on the yellow metal. August saw the first net global decline in central bank gold holdings, but the number was skewed by a big sale by one central bank. Overall, seven countries […]

A Tsunami of Defaults and Evictions Looms on the Horizon

Even as US stock markets rally and people anticipate a quick recovery as economies open up, a tsunami of defaults and evictions looms on the horizon. The mainstream narrative has been that although the coronavirus shutdowns have rocked the economy, it’s not a financial crisis like we saw in 2008. Back in April, Peter Schiff […]