Peter's Blog

War on Cash: New York Fed Launches “Digital Dollar” Pilot Program

On Tuesday (Nov. 15), the New York Federal Reserve announced a 12-week pilot program in partnership with several large commercial banks to test the feasibility of a central bank digital currency (CBDC). The “proof of concept” program will test an “interoperable digital money platform” on a regulated liability network (RLN) for “technical feasibility, legal viability, […]

Indian Gold Demand Continued Strong in October

Festival and wedding buying boosted gold demand in India last month and the outlook looks strong moving forward.

Get Up to 30% More Silver Free!

If you are holding American Silver Eagles, this is a great time to exchange them for silver bars and walk away with a lot more silver.

More of the Same: US Government Starts Fiscal 2023 With a Big Budget Deficit

After running a $1.3 trillion deficit in fiscal 2022, the US government took up right where it left off to start fiscal 2023 — running a big budget deficit. The October budget deficit came in at $87.8 billion despite another month of healthy government receipts, according to the latest Treasury statement.

Peter Schiff: The Fed Is Not Making Progress in Its Inflation Fight

The October CPI data came in a bit cooler than expected, but the market reaction was hot and furious. Peter Schiff broke down the CPI data and the market reaction to it in his podcast. Despite the spin, Peter said the Fed isn’t making any progress in fighting inflation.

Bitcoin Hodlers: Time is Running Out to Convert Nothing into Something

Three key takeaways: For weeks, the Bitcoin market has looked propped up by the whales, especially after the recent FTX disaster. Bitcoin hodlers should strongly consider moving into gold, silver, or at least Ether. Full disclosure, I have a complicated relationship with Crypto.

Budget Deficit: Annual Interest Expense Increases 40% Compared to Last October

The Federal Government ran a deficit of $88B in October which is down significantly from the deficit last month that was a record for September due to the student loan forgiveness program. The deficit is also down compared to last October which was -$165B.

Perception Is Reality? SchiffGold Friday Gold Wrap Nov. 11, 2022

They say perception is reality. Based on the October CPI data, the perception is inflation has peaked. But what’s the reality? In this episode of the Friday Gold Wrap podcast, host Mike Maharrey digs into the CPI data along with the markets’ reaction to it and wonders if the inflation victory dance is a little […]

CPI: Annualized Pace of Increase Still Over 5%

The perception is that CPI cooled significantly in October, but the data doesn’t quite bear this out. The latest seasonally adjusted inflation rate for September came in at 0.44%. The YoY rate was 7.7%, or 7.8% when adjusting for Household Ops. which has not been consistently reported over the last year. The increase was actually […]

The Employment Picture Isn’t as Pretty as They Want You to Believe

There are plenty of signs that the economy is teetering on the brink as the Federal Reserve ratchets up interest rates. The air is coming out of the housing bubble, PMI has tanked, more Americans are living paycheck to paycheck, and debt is spiraling upward. Those claiming the economy remains strong have one peg to […]