Peter's Blog

Imagine running a business where every time you sell a product for one cent, you spend four cents manufacturing. You’d probably reconsider your operating model quickly. The United States government took many years to reconsider a similar situation.  For years, the U.S. Mint produced pennies that cost more to manufacture and distribute than their face […]

In a recent interview with Mario Nawfal, Peter explains why investors have the gold trade backwards, arguing that rising rates are actually bullish for the metal rather than bearish. The duo connects America’s economic weakness to Trump’s sagging approval numbers and explores how China’s gold accumulation and US policy blunders are accelerating the world’s move […]

Last week, Peter joined Cyrus and Alex on the “Let’s Talk Geopolitics” podcast to lay out why he believes America’s fiscal and monetary situation has reached a point of no return. He walks through the choice between hyperinflation and outright default, criticizes Trump’s handling of the economy heading into the midterms, and explains why gold, […]

Peter recently joined The Competent Investor podcast to lay out his assessment of where U.S. fiscal and monetary policy are headed. He walks through the mechanics of a looming sovereign debt crisis, explains how the Federal Reserve has backed itself into a corner, and details how rising interest rates are quietly wrecking the housing market. […]

In his latest interview with Glenn Diesen, Peter tackles the narrative that the US economy is thriving simply because President Trump insists it is. He walks through the deeper rot underneath the surface-level boasting, covering America’s addiction to debt, the unsustainable trade deficit, China’s retreat from US Treasuries, and the looming reality that the national […]

A troubling  statistic has made the rounds through social media. It should be a warning to anyone, but in particular those who understand the dangers of fiscal irresponsibility: the US government must now spend more of their budget on interest payments than defense. Our own inability to stop consuming has turned interest into one of […]

The economy is bound to eventually reach a point where it can no longer tolerate the interest rates required to keep inflation and debt under control, and some of the loudest warnings are coming from the bond market. The benchmark 10-year Treasury yield recently climbed above 5.3%, reaching levels not seen since 2002. Even more […]

Last week, Peter joined Jeremy Szafron on Kitco News to explain why surging bond yields are the start of a much larger reckoning for the US economy. He walks through the collapse of the housing-driven spending boom, the dangerous combination of record debt and rising rates, and why gold remains the only real protection against […]

Oil exports in the Middle East have reached 98% of their pre-war levels. For a war that has so fundamentally challenged the traditional oil supply chain, this is an incredible achievement. With oil coming out of the Middle East at the same rate that it did before the war, it is only a matter of […]

The Trade Deficit is one of the two components of the ‘twin deficits’; the other being the federal budget deficit. The trade deficit used to be a number that received a ton of attention in the 1980s and 1990s because it was determined to be a strong gauge of the strength and weakness in the […]