Peter's Blog

Treasury Borrows $2.27 Trillion in 12-Month Period

The Treasury ran a budget deficit of $193B in the month of March. This exceeded the 12-month average of $144B. Over the last year, the Treasury has seen a massive influx of Individual tax revenues that have helped support the ballooning Federal Deficit. Unfortunately, spending has been so high that the additional revenue did not […]

CPI 1.2% MoM and 8.6% YoY – Is this Peak Inflation?

The latest seasonally adjusted inflation rate for March was 1.21% month over month, with a non-seasonally adjusted annual rate of 8.56%. Both of these numbers came in slightly above expectations, which were elevated due to the war in Ukraine.

ETF Gold Holdings Surged in March

Global ETF gold holdings surged in March, charting the third straight month of inflows. Net inflows of gold into ETFs came in at 187.3 tons last month, as total holdings rose to 3,837 tons, just shy of the all-time record high. It was the biggest jump in ETF gold holdings since July 2020, according to […]

Comex Update: Spreads, House Accounts, and a US Debt Chart

As we approach the middle of the month, here are the trends we’re seeing in the COMEX, along with a little more data on the national debt.

Delusions of Grandeur: SchiffGold Friday Gold Wrap April 8, 2022

Earlier this week, Lael Brainard said the Federal Reserve will run off its balance sheet at a considerably more rapid pace than it did last time around. SchiffGold Friday Gold Wrap host Mike Maharrey thinks Brainard and the rest of the Fed officials suffer from delusions of grandeur if they think they can really pull […]

Annualized Interest on US Debt Increased $16.4 Billion in Just 6 Months

The US Treasury added $111 billion in debt during March. Meanwhile, rising interest rates are already creating problems for Uncle Sam. Annualized interest on the US debt has increased by over $16 billion in just six months. Following is an analysis of US debt holdings.

Trailing Twelve-Month Trade Deficit Exceeds $900 Billion

The US continues to run massive trade deficits. Despite the lack of interest in the mainstream, trade deficits matter. And as Peter Schiff said last fall, we can’t just ignore these trade deficits forever. February did not set a new monthly trade deficit record, but it was very close, and it was worse than projected.

A Dark Day in Economic History; Could It Happen Again?

Yesterday (April 5) was the anniversary of a dark day in US economic history. On April 5, 1933, President Franklin D. Roosevelt issued EO-6102. It was the beginning of the end for the gold standard.

Hedge Funds Have Room to Push Gold Higher

There is a correlation between Managed Money activity and the price of gold. Managed Money net longs str down from their March peak. This indicates there is money on the sideline that could rush into the market if gold breaks through current resistance Please note: the COTs report was published 4/1/2022 for the period ending […]

Russia Is Quietly Making the Case for Owning Gold

Russia has quietly made the case for owning gold. The head of the Russian Parliament, Pavel Zavalny, made comments recently addressing the subject of economic and financial sanctions. It’s clear that gold is playing a large role in protecting Russian wealth. That role may get bigger and it could create a paradigm shift in how […]