Peter's Blog

A Dog and Pony Show: SchiffGold Friday Gold Wrap Jan. 20, 2023

Pop some popcorn and get ready for the next political dog and pony show. The US government bumped up against its statutory borrowing limit this week. In this episode of the Friday Gold Wrap podcast, host Mike Maharrey talks about the looming debt ceiling fight and the deeper problems that will inevitably get ignored as […]

Budget Deficit Exceeds $1.4T in 2022

The Federal Government ran a deficit of -$85B in December. While this was much smaller than the deficit posted in November, it marks one of the largest December deficits ever.  That pushed then 2022 calendar year deficit to over $1.4 trillion.

CPI: Saved by Falling Energy Prices

The CPI cooled again in December driven by a massive fall in Energy prices. As shown below, the fall in Energy has been a big reason for the recent drop in inflation. Commodities have also been a driver down as Used Cars and Trucks fell -2.5% MoM and -8.8% YoY. That said, stickier items like […]

Is “Cooling” CPI Transitory? SchiffGold Friday Gold Wrap Jan. 13, 2023

The headline numbers from December’s CPI report give the impression that price inflation is continuing to cool. Markets are giddy at the prospect. But in this episode of the Friday Gold Wrap podcast, host Mike Maharrey argues that “cooling” price inflation is most likely transitory and the markets still don’t really understand the Fed’s position. […]

Bill Introduced in Alaska House Would Exempt Gold and Silver from Sales Tax

A bill introduced in the Alaska House would exempt gold and silver bullion from local sales tax and make them both legal tender in the state. Ending the sales tax would relieve some of the tax burden on investors, and take a step toward treating precious metal bullion as money instead of a commodity.

US Debt Hits the Ceiling – Interest Payments Keep Growing

The US government has once again run up against the debt ceiling. Meanwhile, interest payments on the debt keep growing. The Treasury only added $6B of debt in December, allowing short-term debt to mature and replacing it with longer-term debt. This makes sense as long-term rates are below short-term rates with the inverted yield curve.

The Real Jobs Report Way Worse Than Headlines Suggests

The headlines keep telling us the US has a robust job market, but a deeper dive into the data tells a much different story.

Ask Mike Anything: SchiffGold Friday Gold Wrap Jan. 6, 2023

You have questions. Friday Gold Wrap host Mike Maharrey has answers. In this episode of the podcast, Mike answers questions submitted by listeners. He covers topics ranging from the American Silver Eagle shortage to the best states for sound money.

Trade Deficit Falls Due to Weak Consumer

The November Trade Deficit saw the first contraction in four months and actually fell to the lowest level since October 2020. This was primarily driven by a collapse in Imported Goods as shown below.

A Bet on Bitcoin is Gambling on the Whales

Key Takeaways The price of Bitcoin has been suspiciously stable following the epic collapse of FTX less than 2 months ago The whales are defending the Bitcoin price at $16,000 waiting for interest to flood back into Bitcoin It’s hard to imagine a bigger hype train than 2021 which means Bitcoin may not make a […]