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POSTED ON September 18, 2021  - POSTED IN Exploring Finance

Gold and silver have both significantly drained from the Comex inventory since August 1.

This analysis focuses on gold and silver within the Comex/CME futures exchange. See the article What is the Comex? for more detail. The charts and tables below specifically analyze the physical stock data at the Comex to show the physical movement of metal into and out of Comex vaults.

POSTED ON September 17, 2021  - POSTED IN Friday Gold Wrap

CPI data came in slightly cooler than expected for August, giving new energy to the “transitory” inflation narrative. But can we really trust these numbers? In this episode, Friday Gold Wrap host Mike Maharrey takes a deep dive into the CPI and considers this question. He also touches on the big gold sell-off Thursday sparked by surprisingly good retail sales numbers.

POSTED ON September 16, 2021  - POSTED IN Guest Commentaries

For months, Federal Reserve Chairman Jerome Powell has insisted that inflation is “transitory.” Instead of laying out a plan to taper quantitative easing, Powell used his Jackson Hole speech to double down on that narrative. Looking at the bigger picture, the US government has created a CPI calculation that intentionally understates rising prices.

This raises a question: why are the government and the Fed so desperate to hide price inflation?

POSTED ON September 15, 2021  - POSTED IN Key Gold Headlines

A couple of years ago, CNBC commentator Jim Leventhal made a pretty astounding comment. When asked about gold, Leventhal said he had no interest in it because gold has no uses as a metal.

Of course, this is nonsense. Gold has a wide range of uses in sectors ranging from jewelry to high-tech electronics. And gold is becoming increasingly important in the healthcare industry.

POSTED ON September 15, 2021  - POSTED IN Peter's Podcast

For the first time in nine months, the government CPI data came in under expectations. Prices rose by 0.3% last month, just below the 0.4% projection. Year on year, the CPI was up 5.3%. Core inflation, stripping out more volatile food and energy (for those of you who don’t eat or use energy) was up 0.1%. Core inflation is up 4% on the year.

In his podcast, Peter Schiff took a deeper dive into the numbers and explained why this doesn’t prove inflation is “transitory.” He also drilled down to the root cause of rising prices – too much money chasing not enough stuff. Given the current monetary policy, that doesn’t appear set to change anytime soon.

POSTED ON September 14, 2021  - POSTED IN Exploring Finance

The latest seasonally adjusted month-over-month inflation rate was 0.3% (vs. .4% expected), with a non-seasonally adjusted annual rate of 5.3% (vs 5.4% expected). The reason for the fall from July’s .47% pace was spread across multiple categories, specifically Commodities, Food, Shelter, and Transportation.

While the CPI drop-off since the June peak appears to prove the Fed narrative of “transitory” inflation, a deep dive into the numbers shows why the Eccles building should keep the champagne on ice for the moment. Much of the recent pullback can be explained by the economy shutting down again in response to Delta. (more on this below).

POSTED ON September 14, 2021  - POSTED IN Key Gold Headlines

The US government ran a $170.64 billion budget deficit in August, pushing the total fiscal 2021 budget shortfall to $2.71 trillion with one month to go, according to the latest Monthly Treasury Statement.

The mainstream media spun this as good news, noting that the August deficit was 15% lower than the $200 billion spending gap a year ago. This was primarily a function of higher revenues in August 2021 compared to last year. But digging deeper into the numbers reveals the US government hasn’t exactly slowed down its out-of-control spending spree, with spending last month also up compared to last year.

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