Peter's Blog

In a World Drowning in Debt the US Stands Out

In a world drowning in debt, the US stands out, according to the International Monetary Fund. Global debt has reached record levels. According to a recent IMF report, the world has amassed $164 trillion of debt. That comes to 225% of global debt to GDP, levels not seen since the peak of the 2008 financial […]

The Petroyuan Is For Real

Late last month, China finally launched its much anticipated yuan-denominated oil futures contract. Many analysts think this is yet another sign that the mighty dollar’s world dominance is coming to an end.

Turkish President Fires Another Shot in an Escalating War Against the Dollar

Turkey went on a gold-buying spree in 2017 and that trend continued in the first two months of 2018.  Turkish President Recep Tayyip Erdoğan likes gold and it’s pretty clear the president has been pushing Turkey’s central bank to buy gold and reduce foreign currency reserves in an effort to move away from dependence on […]

The Ace Up China’s Sleeve

Last week, Pres. Trump said US markets might have to endure some short-term pain if the trade war with China escalates. But never fear, in the long run, everything will be great! We have to do things that other people wouldn’t do. So, we may take a hit, but you know what, ultimately, we’re going […]

Could a Trade War Jump-Start a Breakout in Gold?

The trade war is heating up. Could it jump-start a breakout in gold? Some analysts think so. China fired a salvo in what could become a full-blown trade war on Monday. The Asian nation slapped tariffs of up to 25% on 128 US products including frozen pork, wine and steel pipes in retaliation for US tariffs […]

Russia Passes China; Gold Hoard Now World’s Fifth Largest

Russia has passed China to become the world’s fifth-largest gold-holding country. According to a Bloomberg report, the Bank of Russia added nearly 20 tons of gold to its stash in January, raising its total to 1,857 tons. The People’ Bank of China reported holdings of 1,843 tons. Russia has bought gold every month since March […]

Who Is Going to Buy All This US Debt?

During a podcast last week, Peter Schiff asked a key question: Who is going to buy all of this US debt? The US Treasury Department plans to auction off around $1.4 trillion in Treasuries this year. And it won’t end there. The department expects that pace of borrowing to continue over the next several years. […]

Global Gold Production Plateaued in 2017; Chinese Production Hit Record Low

Gold supply plateaued last year. Global mine output rose just a paltry 5.7 tons in 2017, according to data compiled by the World Gold Council. That represented the smallest increase since 2008.

“He Who Has the Gold Makes the Rules” and Russia Is Getting the Gold

Remember the golden rule: He who has the gold makes the rules.” And the Russians have the gold. Or at least they are in the process of getting it.

Chinese Gold Consumption Surged in 2017; Production Fell

Gold consumption in China grew 9.41% in 2017, according to information released by the China Gold Association. Gold jewelry demand, especially in poorer regions, helped drive overall demand higher. The Chinese consumed 1,089 tons of the yellow metal last year. The South China Morning Post called the surge in demand “a big turnaround” after a […]