Peter's Blog

Jerome Powell’s Open-Mouth Operations

Federal Reserve Chairman Jerome Powell testified before the House Financial Services Committee on Wednesday (June 21). The Fed chief engaged in some more open-mouth operations, trying to guide monetary policy with words instead of actions. To understand a few things he said, you have to read between the lines. Oh, and he also got at […]

Comex Now Has 28 Paper Claims for Each Physical Ounce of Registered Silver

The bleed of metal from COMEX vaults has resumed and silver inventories have hit record lows with 28 paper claims for each ounce of physical silver. 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 […]

Alabama Joins Pushback Against a Central Bank Digital Currency

Another state has taken action hoping to hinder the implementation of a central bank digital currency (CBDC) in the United States. Last week, Alabama Governor Kay Ivey signed a bill into law that pushes back against CBDC in a small way that could place some roadblocks in the path toward implementing a digital dollar.

The National Debt Is a Ticking Time Bomb

Last week, the national debt pushed above $32 trillion. This is a ticking time bomb that will eventually explode.

North Carolina Bill Would Launch Study of a State Gold Bullion Depository

A bill making its way through the North Carolina legislature would mandate a cost-and-benefit study on creating a state precious metals bullion depository. A bullion depository would not only create a safe place to store precious metals; it could also facilitate the everyday use of gold and silver in financial transactions in North Carolina and […]

Precious Metals Market Expected to Top $400 Billion in Next Five Years

The global precious metals market is on pace to top $400 billion within the next five years. According to Fortune Business Insights, an India-based consultancy company, the precious metals market is on pace to hit $403.1 billion by 2028, driven primarily by the gold market. This is up from $275 billion in 2021.

National Debt Quietly Blows Past $32 Trillion

The great anti-federalist Brutus wrote, “I can scarcely contemplate a greater calamity that could befall this country, than to be loaded with a debt exceeding their ability ever to discharge.” And here we are. With little fanfare, the national debt blew past $32 trillion last week.

In Another Potential Blow to Dollar Dominance, Kenyan President Urges Shift Away from Greenback in African Trade

Dollar doubts continue to grow, threatening the greenback’s perch at the top of the global financial system. Last week, Kenyan President William Samoei Ruto suggested that African nations should shift away from using the dollar in intercontinental trade.

Mainstream Perception vs. Economic Reality: SchiffGold Friday Gold Wrap Podcast June 16

There is the mainstream and market perception of what going on in the economy and financial system. And then there’s the underlying economic reality. In this episode of the Friday Gold Wrap podcast, host Mike Maharrey talks about the growing divergence between the two in the context of the June Federal Reserve meeting and the […]

Federal Budget: TTM Deficit Surges by an Incredible $980B YoY

The Federal Government ran a deficit last month of $240B. Revenue continues to be at or below levels last year while expenses continue to grow.