Peter's Blog

Fed Trims Rates Again—Gold Vaults Past $4,200 Anyway

In a hotly-anticipated announcement, the Federal Open Market Committee shaved its federal-funds target by another quarter point on December 10th, setting the range at 3.50 – 3.75 percent. Fed officials insist the U.S. economy is still expanding at a “moderate pace,” yet the same statement concedes that job gains have cooled and unemployment inched higher […]

Why Silver is Outperforming Gold (Again)

Silver’s impressive gains have left it, yet again, outpacing gold by around 50% year-to-date. This is a common pattern for the metal, which has historically tended to outperform gold during certain stages of bull markets.  Just as silver has done before, it’s capitalizing on the same macroeconomic conditions that have been a boon for gold, […]

Think Tanks are Inefficient, but by No Fault of Their Own

Think tanks are often a clear example of when poor government structure makes a market extremely inefficient. While some think tanks have a huge impact, many do almost nothing to create value for those who donate, yet they are still extremely well funded. While they are primarily rooted in ideology, patrons give money expecting some […]

Schiff vs. CZ: Tokenized Gold Beats Bitcoin

Peter recently debated Binance founder Changpeng Zhao (“CZ”) in Dubai at the Binance Blockchain Week. In their dialogue, Peter goes through the case for tokenized gold and lays out why a gold-backed token can actually improve gold’s usefulness as money without sacrificing its long-term value. He contrasts tokenized gold with Bitcoin and other crypto mania—calling […]

Zohran Mamdani’s Socialism Fails the Economics 101 Test

Socialism seems to be on the rise, with jurisdictions like New York City electing avowed socialists to “fix the economy.” Whether it’s state control of the money supply or intervention in capital and labor markets, sound economics demonstrates that central planning never works. The following article was originally published by the Mises Institute. The opinions […]

Monetary Tyranny: How Legal Tender Laws Built the Fiat Empire – and How Free Competition Can End It

One way that inflation-prone fiat currency took over the monetary system was legal tender laws, which obligate private citizens to accept currencies like the dollar even when they don’t want to. Without these policies, weak and eroding currencies would fall to the wayside, and more stable currencies would replace them. The following article was originally […]

ADP Numbers: Private Sector Dumps Over 30K Jobs

U.S. private-sector hiring slipped into negative territory last month, according to the November ADP National Employment Report released December 3rd. Payrolls fell by 32,000 positions—an abrupt reversal that economists say underscores gathering economic headwinds and a wary consumer. Small businesses were the hardest hit, shedding 120,000 jobs, while the spot price of gold briefly punched […]

Why the Government Isn’t Educating Productivity

President Trump recently classified a certain group of graduate degrees as non-professional degrees. This decision lowered the limit for Federal student loans for these programs. Whether one perceives this as a helpful reduction of spending or a political slight against social sciences, this example shows the government rationale regarding education. Education’s value is often evaluated […]

Fed Governor Bowman Tries to Reassure House Committee

Federal Reserve Vice Chair for Supervision Michelle Bowman assured House lawmakers on December 2nd that the “Federal Reserve” “banking system remains sound and resilient,” citing robust capital ratios, ample liquidity, and falling non-performing loans. Testifying before the House Committee on Financial Services, she painted a largely upbeat picture of traditional banks even as gold prices—often […]

What Will Black Friday 2025 Tell Us About American Consumers?

Black Friday, the ultimate consumer holiday, has lost some of its luster in recent years as Americans become increasingly indebted, cash-strapped, and hamstrung by high inflation. Known as an all-out buying bonanza where shoppers flood retailers for deals on everything from TVs and toys to kitchen utensils, this year all signs point to a muted […]