Peter's Blog

Why Gold is A Manipulator’s Nightmare

From 2003 to 2014, Deutsche Bank manipulated the daily price of gold. In the past, they set gold prices in conjunction with four other banks through phone calls, and they positioned themselves before releasing the prices to the public. Of course, this archaic means of price-setting was done away with, but this situation showed gold […]

Investors Flocked to Gold ETFs in August

According to a report from the World Gold Council, global investors poured another US$5.5 billion into physically backed gold exchange-traded funds (ETFs) during August, extending a three-month buying streak and pushing total assets under management (AUM) to a record US$407 billion. Holdings climbed by 53 tonnes to 3,692 tonnes—the highest month-end tally since mid-2022—even as […]

Prepare for New Gold Highs (Just Don’t Dance)

Gold hit a fresh record high in the wake of Jerome Powell’s dovish comments that the Fed will consider cutting interest rates at its upcoming September FOMC meeting. As the Fed is forced into accommodative policy and possibly even eventual QE, get ready for even more record highs for the yellow metal. But just don’t […]

Schiff on VRIC Media: Hike Rates, Back Gold, Dump Bitcoin

In a recent VRIC Media interview, Peter lays out a straightforward critique of modern monetary policy and the political choices driving today’s economy. He connects low interest rates, tariffs, and misguided enthusiasm for crypto to a brewing misallocation of resources, and points listeners toward gold and real assets as sensible hedges. He starts by taking […]

Fed’s Waller: ‘Let’s Get On with’ Inflation

Federal Reserve Governor Christopher J. Waller used a Thursday night speech at the Economic Club of Miami to press, yet again, for easier money. Declaring that “the time has come to ease monetary policy and move it to a more neutral stance,” the long-time dove said he would have cut rates in July and plans […]

Using Tariffs to Reduce the Deficit? Not So Fast

After posturing to use tariffs to eliminate income tax, the Trump administration has now shifted to a narrative that they’ll pay off deficits. Both promises are hollow.  Deficits as massive and persistent as ours demand massive Treasury issuance. That means markets have to absorb ever-larger supply, pushing yields higher if demand fails to keep up. […]

Fed Minutes Reveal Governors’ Thought Process Behind July Rate Hold

Three weeks after the Federal Open Market Committee opted to leave its target range unchanged at 4.25%–4.50%, fresh details from the July meeting shed light on why policymakers are growing uneasy even as they stay on hold. Minutes released Wednesday reveal officials wrestling with sticky price pressures, new tariffs, and a cooling labor market—all while […]

Fed’s Barkin Says “Fasten Your Seatbelts” for Bumpy Road

Economic cross-currents, political headwinds, and an elevated gold price framed Federal Reserve Bank of Richmond President Tom Barkin’s August 12 remarks to The Health Management Academy in Chicago. Barkin told the Four Seasons crowd that U.S. real GDP expanded at just 1.2 percent during the first half of 2025, less than half last year’s 2.5 […]

Abolish the Bank of Portugal Before It Causes More Damage

Free-marketers are quick (and correct) to blame the Fed for America’s monetary troubles. But as bad as the Federal Reserve is, other countries, like Portugal, have corrupt central banks that rival the Fed in its corporatism, inflationism, and irresponsibility. The following article was originally published by the Mises Institute. The opinions expressed do not necessarily […]

ISM Services PMI Barely Hangs On to Expansion

The American services engine came more than one point under expectations but stayed in the green by the slimmest of margins last month, even as price pressures roared back to life and trade frictions deepened. The Institute for Supply Management’s Services Purchasing Managers’ Index (PMI) came in at 50.1 for July, just a whisker above […]