Peter's Blog

Fun on Friday: Searching for the Jekyll Island Creature

I spent a little time at Jekyll Island, Georgia, last weekend. I looked hard, but I didn’t find the mythical creature from Jekyll Island. From what I hear, it’s taken up permanent residence in Washington D.C. But I did locate its birthplace. If you don’t get the reference, I’m referring to the Federal Reserve.

These Jobs Ain’t Comin’ Back: SchiffGold Friday Gold Wrap Oct. 16, 2020

It’s been months since the US started to reopen after the government-imposed coronavirus shutdowns and yet hundreds of thousands of Americans continue to file for unemployment every week. In this episode of the Friday Gold Wrap podcast, host Mike Maharrey takes a close look at the labor market and concludes that a lot of these […]

Money Out of Thin Air: Exchanging Nothing for Something

In response to any economic downturn, the Federal Reserve cranks up the money printing press. The reaction to the economic chaos caused by the government response to the coronavirus pandemic was no different. The Fed launched what many have called “QE infinity,” and has increased the money supply at a record pace. A lot of […]

“Temporary” Layoffs Turning Into Permanent Job Losses

When governments across the US forced businesses to close down in response to the coronavirus pandemic, everybody assumed the layoffs would be temporary. Despite the huge surge in unemployment, the expectation was people would quickly return to work once the crisis passed and the economy opened up again. But as the pandemic stretches into its […]

Goldman Sachs: Dump Dollars and Buy Silver

Sell dollars and buy silver. That’s Goldman Sachs’ recommendation. We’ve been warning about a dollar collapse. Now the mainstream is even getting bearish on the dollar.

Corporate Bankruptcies Surge; Small Businesses Simply Shutting Down

As pundits and politicians continue to speculate about economic recovery, hundreds of companies large and small are struggling under loads of debt, filing for bankruptcy and closing their doors. In September, 54 more large companies filed for bankruptcy, according to S&P Global intelligence. A total of 509 companies have gone bankrupt this year as of […]

Inflows of Gold Into ETFs Tops 1,000 Tons on the Year

Globally, ETFs added gold for the 10th straight month in September and pushed total inflows to over 1,000 tons on the year. The previous yearly inflow record was 646 tons set back in 2009. Gold ETF holdings increased by 68.1 tons last month, despite the metal’s worst monthly price performance since November 2016, according to […]

Fun on Friday: A Moving Nightmare

I hate moving. We moved from Kentucky to Florida about a year ago. It wasn’t fun. It was stressful. I lost things. Now, imagine moving $11.7 billion in gold bars and coins.

What Is the Retail Mess Telling Us? SchiffGold Friday Gold Wrap Oct. 9, 2020

Regal Cinemas shut down all of its US theaters this week. The company said the closure is temporary, but it reveals the deeper strain in the retail sector. In this episode of the Friday Gold Wrap podcast, host Mike Maharrey digs deeper into the retail mess and talks about what it is telling us about […]

Seven Central Banks Increase Gold Reserves

Gold-buying by central banks has slowed from the record pace we saw in 2018 and 2019, but many countries continue to load up on the yellow metal. August saw the first net global decline in central bank gold holdings, but the number was skewed by a big sale by one central bank. Overall, seven countries […]