Peter's Blog

After once criticising former Treasury Secretary Janet Yellen’s strategy of increasing the Treasury’s share of short-term debt issuance, Scott Bessent has decided to continue the same strategy. It’s part of the Trump administration’s bid to keep long-term interest rates down. But by using fiscal tools to provide low-cost liquidity to financial markets, it’s a bailout […]

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 […]

The U.S. economy’s “early-warning siren” just grew louder. The Conference Board reported Monday that its Leading Economic Index (LEI) fell 0.3 percent in June to 98.8—a level not seen since 2020. The decline extends the LEI’s losing streak to 18 of the last 19 months and pushes its six-month drop to 2.8 percent. With the […]

In a new report released today, the Bureau of Economic Analysis (BEA) shaved another three-tenths off first-quarter growth estimates, revealing that real U.S. GDP actually slipped 0.5 percent at an annual rate instead of inching ahead. The contraction follows a 2.4 percent gain in 2024’s closing quarter, marking the economy’s sharpest quarterly swing since the […]

New York’s manufacturing sector faced another difficult month, marking a consistent four-month decline according to the recent Empire State Manufacturing Survey released by the Federal Reserve Bank of New York. The general business conditions index fell sharply to -16.0 in June, emphasizing the continued contraction in regional economic activity. Despite the deteriorating conditions, there is […]

Peter recently joined Jimmy Morrison on his show, “Let Us Disagree.” He delivers a candid analysis of today’s economic terrain, connecting long-term monetary trends with the pitfalls of trade policy and exuberance in crypto markets. In this wide-ranging conversation, Peter draws on personal experience to highlight gold’s value proposition in 2025 and compares today’s world […]

Last week, Peter joined Jason Burack on the “Wall Street for Main Street” podcast to warn listeners that the U.S. economy is teetering on the edge of a significant financial crisis, potentially dwarfing the 2008 recession. During the discussion, Peter outlines how economic mismanagement, escalating inflation, and global de-dollarization are intensifying America’s fiscal woes, with […]

In a recent podcast appearance with Glenn Diesen, Peter makes a compelling case regarding the fragile state of the American economy, highlighting the unsustainable reliance on monetary inflation, trade deficits, and artificially low interest rates. He contrasts the challenging road ahead for America against the comparatively smoother transition other parts of the world might experience […]

U.S. consumer confidence suffered a sharp blow yesterday, plummeting 7.2 points to 92.9, according to the latest data from the Conference Board Consumer Confidence Index. Alarmingly, the Expectations Index, which measures consumers’ short-term outlook on the economy, tumbled to 65.2—its lowest level in 12 years—breaking well below the critical 80-point threshold that traditionally signals an […]

Last week Peter appeared on Fox Business with Liz Claman and co-panelist Scott Sperling to react to last week’s FOMC decision to hold rates steady. Peter, Liz, and Scott discuss Jerome Powell’s remarks from the decision, recent movement in gold and the equity market, and how economic growth may be able to offset some of […]