Peter's Blog

Georgia Couple Helps Police Scam the Scammers

A Georgia couple nearly lost more than $186,000 in a gold scam. But they ended up turning the tables and scamming the scammers.

Chinese Gold Demand Shows Strong Growth Through First Nine Months of 2023

Chinese gold demand was up 7.3% year on year through the first nine months of 2023. China ranks as the world’s biggest gold market, and Chinese demand has a significant impact on the global gold market.

European Central Bank Laying Groundwork for Digital Euro

The European Central Bank (ECB) is laying the groundwork to roll out its version of a central bank digital currency (CBDC). According to the ECB’s website, the “preparation phase” for the digital euro begins in November and “builds on the findings from our investigation phase.”

How Did the Toronto Airport Lose $15.3 Million in Gold Bars?

How in the world did the Toronto airport lose $15.3 million in gold bars along with $1.9 million in cash? That remains unclear, but a lawsuit filed by Brink’s shed a little bit of light on the situation.

Are the Chinese Selling Dollars to Buy Gold?

Are the Chinese selling US dollar-denominated assets to buy gold? It sure looks that way.

Biden Administration Runs Third-Largest Budget Deficit in US History

The Biden administration ran a $1.695 trillion budget deficit in fiscal 2023. It was the third-largest deficit in US history. The only time the US government ran bigger deficits was during the COVID years of 2020 and 2021. The government closed out the year with a $170.98 billion deficit in September, according to the final […]

Cracking Commercial Real Estate Market Stressing Banks

Problems in the commercial real estate  (CRE) sector continue to bubble under the surface. This is a major stress point for US banks and could precipitate the next phase of the financial crisis. A combination of high interest rates and declining tenancy is putting the squeeze on commercial real estate owners. As a result, banks […]

Global Debt at Record Levels and the Free Lunch Is Over

Global debt rose $10 trillion to a record $397 trillion in the first half of 2023, according to the Institute of International Finance (IIF). The big increase in debt occurred despite tightening credit conditions, and it is an increasingly worrisome problem because the “free lunch” of artificially low interest rates is over.

Despite Happy Government Narratives, Consumer Sentiment Plunges

Joe Biden says the economy is great. Paul Krugman says the inflation war is over and we won. But Americans aren’t buying the narrative. They’re growing increasingly worried about the economy and inflation. The University of Michigan Index of Consumer Sentiment tanked in October with inflation worries at the highest level since last May.

The Myth of the Invincible Dollar

I write a lot about the national debt. And most people don’t care. That’s because there’s a widespread belief that the dollar is invincible. It isn’t.