Peter's Blog

The CPI Is Two Months Away From Bottoming Before the Next Leg Up

The CPI rose in March by 0.37%, which was much larger than last month’s 0.06%. As shown below, this was driven by the energy component flipping from negative to positive. And there’s even worse news. The math is about to turn on the CPI calculation.

Gold ETFs Record Net Inflows for Second Straight Month in April

For the second straight month, gold flowed into ETFs in April. Globally, gold-backed ETFs reported net inflows of 15 tons last month, reflecting an increase of about $824 million.

Physical Gold Investment Up 5% in First Quarter

Physical gold investment was up by 5% year-on-year in the first quarter. Investors bought 302 tons of gold bars and gold coins in Q1 with a value of $18.4 billion. This was 14% above the 5-year average, according to the World Gold Council.

Peter Schiff: This Is an Inflation Tsunami

Peter Schiff recently appeared on Real America with Dan Ball to talk about the ongoing banking and financial crisis. Peter emphasized that the Federal Reserve and the US government are trying to fix a problem that they caused. And their cure is going to unleash an inflation tsunami.

Central Bank Gold Buying Sets First Quarter Record

After a record-setting 2022, central banks continued to buy gold in the first quarter of 2023, setting a new Q1 record. Overall, global central bank gold reserves increased by 228 tons through the first three months of 2023. This was 38% higher than the previous first-quarter record set in 2013.

US Debt Analysis: Net Interest to Exceed $700B by November

While the US government is not currently adding to the national debt due to being up against the debt ceiling, it is working overtime trying to keep the government afloat. Significantly, the interest on the national debt is skyrocketing even with the temporary lull in borrowing.

Multiple Factors Turn a Weak Employment Report Strong

The Bureau of Labor Statistics (BLS) reported that 256k jobs were added in April with major revisions down in previous months. Meanwhile, the Household Survey reported only 139k jobs in April, the lowest amount since November last year.

Gold Contracts for Immediate Delivery Explode Higher

In 5 days, the COMEX has seen 4,190 contracts open and stand for immediate delivery. This is the strongest start to a month going back at least 2 years, which includes the start of the war in Ukraine and the February 2021 Reddit silver squeeze.

Reality Over Rhetoric: SchiffGold Friday Gold Wrap May 5, 2023

The Federal Reserve raised rates yet again during its May FOMC meeting. Now everybody is trying to decipher the messaging coming out of the Fed to figure out what’s next. But what if the words Powell and Company are saying don’t really matter? In this episode of the Friday Gold Wrap podcast, host Mike Maharrey […]

Falling Trade Deficit Suggests a Weakening US Economy

The March Trade Deficit decreased for the first time in four months. The total deficit came in at -$64.2B, which is the second smallest deficit since January 2021. This might seem like good news but it’s yet another indication of a weakening economy.