Peter's Blog

China Ups Ante in War on Cash With Rollout of Digital Currency

The Chinese government has launched a pilot program for a digital version of the yuan. The virtual currency ups the ante in the war on cash and creates the potential for the government to track and even control consumer spending. It also raises some concern that the Chinese could threaten dollar-dominance.

Solar Energy Industry Expected to Remain Steady Source of Silver Demand

The solar power industry is expected to create a steady source of demand for silver in the coming years, according to a new report released by the Silver Institute. Silver just charted its best month in nine years, with the price of the white metal gaining 20.7% in May.

Silver Charts Biggest Monthly Gain in 9 Years

Silver just had its biggest monthly gain in nine years. The spot price of the white metal went into May at $14.96 per ounce and closed on May 29 at $17.98, a 20.7% increase. Silver futures did even better, with the price of silver for July delivery hitting $18.50 per ounce Friday.

Nearly Half of Small Business Owners Expect to Close Down Permanently

The economy was booming. The stock market was setting records. Then coronavirus came along and governments shut things down to minimize the pandemic. That led to massive layoffs and a nasty recession. But once states open up, things will spring back to life and the economy will go back to being great again. That’s the […]

Over-Leveraged Zombie Companies Threaten Economic Recovery

There seems to be mounting optimism that the US economy will rebound relatively quickly as states begin opening up and there is progress toward a coronavirus vaccine. But the optimism ignores deep problems in the US economy that existed before the pandemic  – chief among them staggering levels of debt and the proliferation of zombie […]

Silver Joins Gold at the Party

Silver has finally joined gold at the party. In the last week, the price of the white metal has moved up from $15.51 to $17.35. (as I type this on Tuesday morning May 19) That’s an 11.9% increase. With the jump in the price of silver, the silver-gold ratio has dropped from over 113-1 earlier […]

QE Infinity: Money Supply Grew at Record Rate in April

The money supply growth rate surged to an all-time high in April as the Federal Reserve created cash at an unprecedented rate through quantitative easing and other money-creating monetary policies. According to Ryan McMaken at the Mises Institute, the only time the Fed has come close to this level of money creation was in the […]

Staggering April Budget Deficit Just the Tip of the Iceberg

The April federal budget deficit came in at a staggering $738 billion as government coronavirus stimulus began flowing through the pipelines and revenue dipped due to the government lockdowns.

ETF Gold Holdings Set Yet Another Record

Gold continued to flow into gold-backed ETFs, setting another all-time record in April. Globally, funds added another 170 tons of gold last month amounting to $3.9 billion, according to the latest data from the World Golf Council. It was the sixth straight month of net inflows.

Household Debt Was $1.6 Trillion Higher Than ’08 Peak Before COVID-19

Total household debt was over $1.6 trillion higher than the previous peak in 2008 even before the full force of the coronavirus pandemic government shutdowns hit the economy. Household debt increased by $155 billion (1.1%) in Q1 to a total of $14.3 trillion, according to the latest data released by the New York Fed. The […]