Peter's Blog

Consumer Debt Sets Another Record But Borrowing Pace Slowing

Consumer debt set another record in September, but the pace of borrowing appears to be slowing. This could signal trouble for an economy built on American consumers spending money they don’t have. Total consumer debt grew by $9.5 billion in September, according to the most recent data released by the Federal Reserve. That represents an […]

The Federal Government Spending Is Even Worse Than Advertised

Uncle Sam is spending money far faster than he’s taking in. The US federal government ran the biggest budget deficit in seven years in fiscal 2019, according to the Treasury Department. And the spending is even worse than advertised. The $984 billion deficit amounts to 4.7 percent of GDP. That’s the highest percentage since 2012. […]

Gold Demand Up 3% in the Third Quarter

Gold demand was up 3% in the third quarter, coming in at 1,107. 9 tons, according to the Gold Demand Trends Q3 2019 report put out by the World Gold Council. Record inflows of gold into ETFs overcame weakness in the jewelry, and gold bar and coin markets to push overall demand higher. Gold mine […]

Central Bank Gold-Buying Spree Shows No Sign of Letting Up

The central bank gold-buying spree shows no sign of letting up as countries seek to diversify their reserves away from the US dollar. Globally, central banks added another net 47.5 tons of gold to their reserves in September, according to the latest data from the World Gold Council. There were no significant gold sales by […]

Why It Might Be Time to Up the Amount of Gold in Your Portfolio

Last week, the Federal Reserve cut interest rates for the third time. And the Fed isn’t alone. A majority of the world’s central banks have slashed rates this year. A World Gold Council report says this new regime of easy monetary policy will likely push bond yields down even lower, making gold a more attractive […]

It’s a Global Rate-Cutting Frenzy

As I write this, the Federal Reserve is in the midst of its October FOMC meeting. The central bank is widely expected to cut interest rates another 25 basis points. If the Fed follows through, it will be the third cut in three meetings, totaling 75 basis points since July. Although the Fed continues to […]

2019 Federal Budget Deficit Was the Biggest in Seven Years

When is a $984 billion budget deficit good news? When you thought you might get a $1 trillion budget deficit. The Treasury Department released the fiscal year 2019 budget numbers on Friday. The budget shortfall came in at $984 billion right on the CBO estimate. A CNBC report said this would likely, “come as a […]

Government Stimulus Doesn’t Stimulate

The US government is spending money and running up debt at an unfathomable rate. The US national debt increased by a staggaring $814 billion in just two months. When confronted with this reality, most people just shrug. Policymakers certainly don’t care. They continue to ramp up spending and call for even more. Paul Krugman recently […]

Trouble on the Horizon for America’s Debt-Burdened Companies

There is a massive corporate debt bubble floating around out there, and when it pops, it will likely take a lot of companies down with it. Outstanding corporate debt in the US stands at almost $10 trillion, according to SEC Chairman Jay Clayton. That’s nearly 50% of GDP.

SchiffGold Now Accepts Ethereum Cryptocurrency

SchiffGold can now accept the Ethereum cryptocurrency as a method of payment for gold and silver. This is great news for investors looking to diversify their cryptocurrency portfolio with precious metals. For details on how to buy gold or silver using bitcoin, bitcoin cash or Ethereum, click HERE.