Peter's Blog

Arkansas Law Makes Gold and Silver Legal Tender in the State

Arkansas Gov. Sarah Huckabee Sanders has signed a bill into law making gold and silver legal tender in the state. The new law also effectively repeals the state capital gains tax on gold and silver. Enactment of this legislation will relieve some of the tax burden on investors, and take a step toward treating precious […]

Is the Pivot in Play? SchiffGold Friday Gold Wrap April 14, 2023

With the CPI coming in slightly cooler than expected and producer prices unexpectedly falling, a lot of people think the Fed pivot is now in play and we will soon see an end to monetary tightening. In this episode of the Friday Gold Wrap podcast, host Mike Maharrey talks about the possibility of a pivot, […]

TTM Net Interest Expense Exceeds Half a Trillion Dollars

The Federal Government ran a gargantuan deficit of -$378B in March. This is over $100B larger than the massive February deficit. In the last three years, only the deficit last September was larger because the government recognized the cost of Biden’s student loan forgiveness. September aside, this month was the largest deficit month since March 2021 […]

Getting CPI Back to 2% Is a Fantasy

The CPI rose in March by 0.06%, which was less than expected. That said, as the chart below shows, the fall in Energy prices was entirely responsible for containing an otherwise high CPI.

Jobs Report: 7 of 8 Categories Below 12-month Trend

The BLS reported that 236k jobs were added in March. Similar to December and January, the Household survey greatly exceeded the Headline Report with 577k jobs added. The Household Survey was surprisingly strong given the current economic environment.

Dollar Woes: SchiffGold Friday Gold Wrap April 7, 2023

The dollar may be king, but its throne is getting a little tippy. In this episode of the Friday Gold Wrap podcast, host Mike Maharrey talks about the slow but steady erosion of the dollar’s global dominance and the possible ramifications. He also explains how Federal Reserve monetary policy is like poison.

Trade Deficit Increases Again in February to $70.5 Billion

The February Trade Deficit increased for the third month in a row, rising by $1.9 billion. Net Goods came in at -$92.9B with Net Services at $22.4B to reach a total of -$70.5B.

CFTC CoTs Report: Price Drivers Go Beyond the Futures Market

Based on the latest Commitments of Traders (COT) report, the latest price action is potentially even more bullish than normal. The latest price moves have been supported by Managed Money but the data clearly shows there is more driving the upward movement. Please note: the CoTs report was published 03/31/2023 for the period ending 03/28/2023. […]

Comex Reins in Platinum but Sees Gold Deliveries Rise

Gold has been seeing a large number of contracts roll in the final day of the contract. That did not happen this month. This has resulted in a large delivery volume.

The Fed Prints $324B in March As QE Restarts

By now it should be common knowledge that the Fed has blown up its balance sheet rather quickly to combat the current banking crisis. As the chart below illustrates, the Fed added a gargantuan sum to its balance sheet in March, netting an increase of $324B.