Peter's Blog

Comex Update: First Gold and Now Silver

Weeks before the Russian invasion of Ukraine, I highlighted Comex data points that could signal a big move ahead in gold. The invasion may have been the spark to light the fire, but the data showed the groundwork was being laid back in January. Silver has now sent up its own flare that may be […]

Inflation Up 0.8% Month-on-Month and Shows No Sign of Slowing

The latest seasonally adjusted inflation rate for January was 0.8% month over month. The non-seasonally adjusted annual rate came in at 7.87%. Both of these numbers were slightly above expectations. Unlike last year, where one component made up the bulk of the move, the past several months have shown increases more evenly spread across the […]

CPI Hits 7.9%; And It’s Worse Than That

The Consumer Price Index data for February just came out. It was smoking hot yet again with prices up 0.8% month-on-month and 7.9% on an annual basis. Keep in mind, this was before the big spike in oil prices due to the Russian invasion of Ukraine. And inflation is even worse than the official government […]

Is the US Undermining the Dollar’s Credibility?

The credibility of the dollar is taking some self-inflicted blows. And the world is watching. Could this hasten the end of the greenback as the world’s reserve currency?

Trade Deficit: Another Record Shattered

January saw another record trade deficit. The $89.7 billion deficit shattered the $82 billion record set in December by 9.4%! Before March 2021, the Trade Deficit monthly record had been set in August 2006 at -$68B. This record stood for nearly 15 years! Records are now being broken almost every single month.

Federal Reserve Debt Monetization: Financial Fraud on a Biblical Scale

Not too long ago, the national debt pushed above $30 trillion. Today, Uncle Sam is $30.26 trillion in the red. And he’s on the fast track toward $31 trillion. Today, most people don’t bat an eye at the national debt. But that wasn’t always the case. As David Stockman pointed out there was a great […]

Gold Touches Record Territory and It’s Not Just Russia

Gold pushed above $2,000 an ounce on Tuesday and made a run at the all-time record high. The yellow metal was up $54 on the day, closing at $2,052 despite some selling after it nudged the all-time high. Some of this is clearly safe-haven buying due to the situation in Russia, and a lot of […]

Who Cares About the Trade Deficit? We All Should

The trade deficit shattered records in 2021. Things didn’t slow down any as we rolled into 2022. The January trade deficit hit another all-time record high. But nobody really seems to care. We should.

The Inflation Blame Game

Now inflation is Russia’s fault. Or is it greedy businesses pushing up prices? Maybe a combination of the two. It seems that government officials and central bankers are looking everywhere for a place to pin the blame for inflation except the one place they need to look — in the mirror.

ETFs Chart Strong Inflows of Gold for Second Straight Month

Gold flowed into gold-backed ETFs for the second straight month in February. Net inflows of gold into ETFs globally totaled 35.3 tons last month. Total ETF gold holdings globally ended February at 3,650.6 tons, according to the latest data from the World Gold Council.