Peter's Blog

2022 Trade Deficit Signals Inflation Closer to 15%

The December Trade Deficit increased after a major drop in November. The total came in at $67B which was 10% greater than November’s $61B, but still well below the 6-month high from October of $77B. It is also below the $79B Trade Deficit from December 2021.

Peter Schiff: Risk On; Economic Understanding Off

We saw a big rotation into risk assets after last week’s Federal Reserve meeting. Then we had another big shock to the markets when the non-farm payroll report came out much stronger than expected. In his podcast, Peter Schiff broke down the market reaction to last week’s events and reveals that while risk was on, […]

Central Bank Gold Reserves Chart Biggest Increase Since 1950 in 2022

Central banks closed out 2022 with reported net purchases of 28 tons of gold in December. Including large unreported purchases, this brought total central bank gold buying in 2022 to 1,136 tons. It was the highest level of net purchases on record dating back to 1950, and the 13th straight year of net central bank […]

Is It Time to Drop the “L” in the BLS?

By all measures, the latest job report absolutely blasted past expectations with one of the biggest upside surprises in recent memory. The current month came in at 517,000 jobs created. But even that massive figure was beaten by the latest Household Survey which showed 894k jobs created in January.

Do You Believe Your Eyes or Your Ears? SchiffGold Friday Gold Wrap Feb. 3, 2023

Do you believe your eyes? Or do you believe your ears? That’s the dilemma you face as you try to make sense of the latest Federal Reserve meeting and Jerome Powell’s messaging. It’s also a question to ask yourself if you’re evaluating the performance of gold over the last year. In this episode of the […]

Is Gold the Last Freedom Train?

Most people believe the Federal Reserve stabilizes the economy and our money. In reality, the central bank incentivized debt and destroys wealth. Is there a way to sidestep the destructive forces of central banking and fiat money? T.W. Thiltgen believes there is a freedom train we can escape on — gold.

Gold Mine Production Up Modestly in 2022 But Remains Below Pre-Pandemic Peak

Gold mine production was up modestly in 2022 as mining operations normalized post-pandemic. But mine output still hasn’t returned to the peak we saw in 2018, boosting speculation that we have possibly reached “peak gold.”

Comex Results: Gold Sees Massive One-Day Roll While Silver Adjustments Break Records

Strange activity continues at the Comex! Delivery volume for February was a little less than half the contracts open at first notice. 6,005 contracts were delivered with 7,370 remaining in open interest. This was a much larger relative delivery than December which saw less than a third of contracts delivered on the first day. Things seemed suspicious […]

Gold Demand Hit 11-Year High in 2022

Gold demand grew by 18% to 4,741 tons in 2022, the highest demand in 11 years, according to data compiled by the World Gold Council. Massive central bank purchases coupled with strong retail investor buying and slowing outflows from ETFs drove overall demand higher.

QT Falls Short Again and the Fed Lost Almost $100B in January

The Fed has a targeted balance sheet reduction of $95B a month. The Fed has failed to meet its target in 7 of the last 8 months with only an $81B reduction in January. The Fed fell woefully short of meeting their $35B MBS target, seeing only $16.7B (less than 50% of the target). The Treasury […]