He ties headlines out of the Middle East to market moves, argues that the Federal Reserve's balance-sheet expansion is quietly inflationary, and contrasts profit-driven private enterprise with costly government-run alternatives. He also warns that taxes on owner-occupied homes can trap retirees and urges readers to consider international and commodity plays — a reminder that sound money and real assets are prudent hedges when central banks are easing.

Peter opens by linking today's rally to a string of optimistic headlines from the White House and Iran:

The catalyst for the rally today was news coming out of the White House, coming out of Iran related to not only does the ceasefire continue, but potentially the complete opening of the Strait of Hormuz. Donald Trump claims it's never going to be closed again. I kind of doubt that, but I think the Iranians are referring to it as a temporary reopening pending the end of the ceasefire and how the negotiations go. But according to Trump, the negotiations are already over and we've won. And also we have a ceasefire apparently between Israel and Lebanon.

He immediately pivots to the role of the central bank, warning that the Fed's actions are lowering real interest rates and expanding its balance sheet — a recipe for higher consumer prices:

And so the Fed is allowing real interest rates to fall. In fact the Fed's balance sheet continues to grow. The balance sheet again in the most recent week up about another 11 billion. Now we're over a 6.7 trillion balance sheet. Again the balance sheet is up over 200 billion this year. The Fed is doing quantitative easing. Money supply as I said is up better than 5% year on year. This is a highly inflationary monetary policy and it will be even more inflationary the longer this war continues.