Peter's Blog

Fiscal 2022 Budget Deficit Blows Past $1 Trillion

The US government ran a $1.38 trillion budget deficit in fiscal 2022 despite government receipts at near-record levels. This further highlights the federal government’s out-of-control spending problem. It’s also a big problem for the Fed as it tries to fight inflation.

Student Loan Forgiveness Creates Largest September Deficit Ever

The Federal Government ran a $430 billion deficit in September. It was the largest monthly deficit since March 2021 when the last Covid stimulus bill was passed. The massive surge this month was due to another Biden giveaway in the form of $437 billion in student loan forgiveness.

The Technical Picture: More Time is Needed Before a Sustainable Rally Begins

The price analysis of gold and silver last month discussed the technical damage done and highlighted how support had become resistance. It concluded, “When everything is so lopsidedly bearish, it can signify capitulation. That said, beware of trying to catch a falling knife. Because of the technical drivers in gold and silver, moves tend to […]

Our Money Is Broken: SchiffGold Friday Gold Wrap Oct. 21, 2022

Inflation is raging. The economy is teetering on the brink. Government spending is out of control. All of this has a root cause. Our money is broken. In this episode of the Friday Gold Wrap podcast, host Mike Maharrey talks about what broke our money and the only way to fix it. He also reveals […]

Comex Update: At This Rate the Silver Metal Will be Gone in Months

Let’s say you were a country or a group of very wealthy individuals and Covid hits. You see governments around the world print money like crazy. It makes you think there might be some inflation to deal with and you want to protect yourself. Gold and silver are the logical choices. So, if you decide […]

Gold Is Nature’s Money

Gold is nature’s money. Aristotle listed four characteristics of sound money: it must be durable, portable, divisible, and have intrinsic value. Gold possesses all of these characteristics, which is why gold has served as money for thousands of years.

Inflation Is Eating Up Your Wage Increases and Then Some

You’re making more money. But you can’t buy as much stuff. Why? Because inflation continues to eat away at your wages.

Federal Tax Receipts Near Record-High Share of GDP

The US government is rolling in dough! US tax receipts have surged this year. Through August, the US Treasury had collected over $4.4 trillion in revenue for fiscal 2022 with one month left to go. That was already 10% higher than receipts in 2021. The US government took in $303.73 billion in August alone. That […]

Peter Schiff: The Fed Is Going to Have to Choose

The Federal Reserve is between a rock and a hard place, and it’s going to have to make a hard choice – inflation or economic implosion. Peter Schiff talked about it on his podcast.

Comex Inventory: 17.4 Paper Ounces of Silver for Each Registered Ounce

Physical metal has continued to drain from COMEX vaults. This is particularly true for silver, which now has 17.4 paper ounces for every registered ounce. This analysis focuses on gold and silver within the Comex/CME futures exchange. See the article What is the Comex? for more detail. The charts and tables below specifically analyze the physical stock/inventory […]