Peter's Blog

Ireland Buys More Gold as Inflation Pressures Mount

Ireland has added more gold to its reserves as inflation worries mount. According to the latest data, the Central Bank of Ireland purchased $88 million ($78 million euros) in gold in November, adding to the two tons it added to its holdings in previous months. With the latest purchases, the Irish central bank has boosted […]

December Jobs: All but One Category are Way Behind 12-Month Trend

November had been the weakest jobs report of the year until a meager 199k were announced for December. As shown below, over the last 18 months, only December 2020 was weaker. This was right when the Covid second wave was wreaking havoc and before vaccines became available to the public.

Treasury Adds $709B to the Debt in a Single Month

The debt ceiling was raised in December and the Treasury responded immediately, adding $709 billion in debt over the month. To be fair, $470 billion of this was non-marketable, as shown below. Note: Non-Marketable consists almost entirely of debt the government owes to itself (e.g., debt owed to Social Security or public retirement)

Seven Questions: SchiffGold Friday Gold Wrap Jan. 7, 2022

The Federal Reserve released the minutes from the December FOMC meeting this week. They were even more hawkish than expected. That sparked a big taper tantrum in the markets. In this episode of the Friday Gold Wrap podcast, host Mike Maharrey gives an overview of the minutes and then asks seven poignant questions they raise […]

Goods Deficit Approaches $100 Billion

November 2021 charted a total trade deficit of -$80.2B just shy of the record -$81.4B in September. However, the data this month is far more concerning when digging into the details. After a massive surge in the trade deficit occurred in September, October saw a big pullback to -$67.1B. The details showed that the volatility was […]

Comex House Accounts Get Crushed in December: The Canary?

I love exploring data to try and understand complex situations. My career has mainly been in finance giving rise to the name: Exploring Finance. Using data to explore the current financial landscape shows an unsustainable situation, which has led me to identify gold and silver as the best defensive investments.

CFTC: Managed Money Did Not Drive Year-End Price Surge

After losing its grip in 2020, managed money is back in the driver’s seat pushing the price of gold and silver around. This analysis is written to explain the short-term price movements, which can be confounding given the strong fundamental backdrop. After very low volatility and a disappointing year in precious metals, it’s likely activity […]

Peter Schiff: 2021 – The Year of Inflation

As 2021 goes into the history books, Peter Schiff looks back over what he calls “a year of peak speculation.” Of course, the big story of the year was inflation.

Comex Delivery Results: Will Momentum Continue in January?

As reported last week, Comex January’s open interest activity was looking strong in silver and modest in gold. The initial results are promising, especially given the probability contracts will open mid-month for immediate delivery. This analysis focuses on gold and silver physical delivery on the Comex. See the article What is the Comex for more detail.

Has the Taper Finally Started? Who Will Fill the Massive Gap?

While on the surface, it appears the Federal Reserve asset purchase taper has started, it’s not as easy to prove when you dig into the details. The Fed is certainly not being as aggressive as they promised, and for good reason. As the Fed leaves the bond market, who will fill the gap? Since 2019, […]