Peter's Blog

China Buys More Gold; Reserves Up Nearly 100 Tons on the Year

China added another 5.91 tons of gold to its reserves in August, bringing its total official gold purchases on the year to almost 100 tons, according to data released by the People’s Bank of China over the weekend. It was the ninth straight month of gold purchases for China as it continues efforts to diversify […]

Greenspan: Rising Gold Price Shows Investors Want Hard Assets That Will Increase in Value

During a CNBC interview, former Federal Reserve Chairman Alan Greenspan said gold prices are surging because investors are looking for hard assets that they know will have value in 20 or 30 years.

ETF Gold Holdings Approaching All-Time Highs

Gold-backed ETFs added another 122 tons of gold globally in August and total holdings are nearing all-time highs. Total ETF gold holdings have reached 2, 733 tons. That’s just 52 tons away from the all-time high reached in 2012 when the price of gold was 9% higher, according to the most recent data released by […]

Central Banks Keep on Buying Gold

Central banks continue to gobble up gold.  Globally, the world’s central banks added another net 13.9 tons of gold to their reserves in July. While this was the lowest net increase in global central bank reserves since August 2017, the number was skewed downward by a significant gold sell-off by Uzbekistan. Gross purchases by the […]

The Fed Is Back in the Treasury-Buying Business!

Has QE4 already started? For the first time since October 2014, the Federal Reserve has bought a significant number of US Treasurys. Over the past two weeks, the Fed purchased $14 billion in US bonds.

Bank of England Governor: Dollar “Too Dominant” as Reserve Currency, Needs to Be Replaced

During a recent interview on RT America, Peter Schiff said investors should stay away from the dollar, not only because of the looming recession, but because its days as a reserve currency could be numbered. Is this just hyperbole, or could the US dollar really fall off its throne? America’s enemies would certainly like to see […]

How Long Can Over-Leveraged Consumers Prop Up the Economy?

Earlier this week, Spencer Schiff wrote an article noting the importance of consumer spending to the US economy and the consequences that will follow if Americans suddenly tighten up their wallets.  Schiff isn’t alone in his concern. A mainstream economist sounded a similar warning during a recent CNBC interview.

Mine Output Fell Sharply in 3 Top Silver-Producing Countries in H1

Mine output fell significantly in three of the world’s top silver-producing countries through the first half of the year. Peru’s silver production fell 10%, mine output in Mexico fell 4%, and silver production in Chile was down 7%, according to data released by government agencies in those three countries.

Gold Serving as a Lifeline for Indians During Credit Crunch

Gold has become a lifeline for Indians in the midst of a severe credit crunch. When the state-run lender refused to extend Babasaheb Mandlik credit, he used his wife’s gold jewelry as collateral for a loan in order to buy cotton seeds before the summer sowing season window closed.

Uncle Sam Is Spending Like We’re In Recession; What Happens When We Really Are?

Last week we got the updated federal budget deficit numbers. At $867 billion, the 2019 fiscal year budget shortfall has already eclipsed last year’s deficit of $779 billion. The out of control spending and spiraling deficits are concerning enough on their own terms, but they become absolutely horrifying when you consider that these budget shortfalls […]