Peter’s Blog

Chinese gold consumption boomed during the January holiday season. This continued the 2021 trend where Chinese gold demand climbed back above prepandemic levels.

After CPI came in hotter than expected yet again in January, Peter Schiff appeared on Fox Business along with Chief Investment Officer and Portfolio Manager of Solutions Funds Group Larry Shover. Peter said that the inflation tsunami is just getting started and the Fed is powerless to fight it.

The US Treasury realized a monthly surplus of $118.7 billion in January. It was the first budget surplus since September 2019 and the largest since it realized a $160 billion surplus in April of 2019. The surplus was driven by high revenue from a continued surge in Individual Taxes. This was combined with shrinking expenditures […]

The Federal Reserve still seems to be hoping that inflation will just go away on its own or that it can jawbone it down by projecting a few little rate hikes. But the Consumer Price Index data keeps dashing its hopes. In this episode of the Friday Gold Wrap, host Mike Maharrey talks about the […]

The latest seasonally adjusted inflation rate for January was 0.65% month over month, with a non-seasonally adjusted annual rate of 7.48%. Both of these numbers came in above expectations. As hypothesized last month, it was very possible that Omicron temporarily restrained inflation in December and a rebound should be expected. It did not take long for […]

After a strong 2021, demand for silver is expected to hit a record high in 2022, according to the Silver Institute’s Global Demand Forecast. The Silver Institute projects silver demand will hit a record 1.112 billion ounces this year with growth in most key areas. That would represent an 8% year-on-year increase.

Atlanta Fed President Raphael Bostic made an important admission during a CNBC interview. He confessed the Fed wasn’t really going all-in on the inflation fight. That raises a question: how is it going to tame the inflation monster? Peter Schiff talked about this admission during his podcast, along with a head-scratching article about the trade […]

Central banks globally added a net 14.2 tons of gold to their reserves in December, according to the latest data from the World Gold Council. Central bank gold buying was up 82% year-on-year. Turkey was the biggest buyer in December, adding 10.1 tons of gold to its reserves. That boosted the country’s total gold holdings […]

American consumers ran up more debt in December, wrapping up a year in which consumer debt increase at the fastest pace in five years. This could prove problematic for the Federal Reserve as it contemplates raising interest rates.

In December 2021, the US ran up a total trade deficit of -$80.7 billion, just a tick shy of the record -$80.8 billion set in September. The Goods Deficit increased by 3.2% to come in at -$101.4B, eclipsing the -$100B mark for the first time ever. This capped off a year in which the trade […]