Peter's Blog

The Road to Prosperity Is Paved With Credit Cards? SchiffGold Friday Gold Wrap Nov. 10, 2023

Mainstream pundits and government officials keep talking about the strong economy and resilient consumers while ignoring what’s driving them – borrowing. To listen to them, you would think the road to prosperity is paved with credit cards. In this episode of the Friday Gold Wrap host Mike Maharrey breaks down the recent household debt data […]

Central Bank Gold Buying Continued Unabated in September

Central banks continued to gobble up gold. Reported central bank gold reserves expanded by a net 77 tons in September with nine countries buying a ton or more.

Confidence Level Is Low! SchiffGold Friday Gold Wrap Nov. 3, 2023

Federal Reserve Chairman Jerome Powell said he’s not confident interest rates are high enough to slay price inflation. He also said he’s not confident they aren’t. In this episode of the Friday Gold Wrap podcast, host Mike Maharrey wonders out loud why we should have any confidence if Powell doesn’t. Along the way, he breaks […]

AI Boom Could Boost Demand for Precious Metals

The boom in AI could mean a boom in industrial demand for precious metals in 2024. Metals Focus, an independent precious metals research consultancy, released a note recently that said it expects the increased demand for chips powering AI technology to drive “widespread support for a range of precious metals bearing components.”

Central Banks on Course for “Colossal” Year of Gold Buying

After setting a record through the first half of the year, central banks continued to gobble up gold in the third quarter. Globally, central banks added a net 337 tons of gold in Q3, the second-highest third-quarter total on record behind 2022. Through the first nine months of the year, central banks bought a net […]

Georgia Couple Helps Police Scam the Scammers

A Georgia couple nearly lost more than $186,000 in a gold scam. But they ended up turning the tables and scamming the scammers.

Global Conflict Threatens

This week, gold and silver went their separate ways, with gold rising and silver falling. In European trade this morning, gold was $1985, up $4 from last Friday’s close, while silver was 22.81, down 21 cents. Gold is edging higher, while silver edges lower.

Navigating By Stars on a Cloudy Night: SchiffGold Friday Gold Wrap Oct. 27, 2023

When it comes to economic data, context matters. In this episode of the Friday Gold Wrap, host Mike Maharrey explains how the Fed, many mainstream economists, and financial network talking heads get a lot wrong because of bad data, shoddy economic frameworks, and ignorance of history. Along the way, he covers the GDP and the […]

Constructive and Destructive Roles of Credit

This article defines credit, a subject upon which there is a lack of public knowledge. What people call money is in fact credit, and money itself, which is physical gold without counterparty risk, rarely if ever circulates. Nearly everyone, including most economists, fails to understand credit and the importance of its value being tied to […]

Chinese Gold Demand Shows Strong Growth Through First Nine Months of 2023

Chinese gold demand was up 7.3% year on year through the first nine months of 2023. China ranks as the world’s biggest gold market, and Chinese demand has a significant impact on the global gold market.