Peter's Blog

Federal Government Runs Up Sixth-Largest Single-Year Debt Increase in US History

Sept. 30 marked the end of the federal government’s 2018 budget year. According to data released by the US Treasury Department, the federal debt grew by nearly $1.3 trillion in fiscal 2018 – $1,271,158,167,126.72 to be exact. It was the sixth-largest fiscal-year debt increase in the history of the United States. So much for that Republican […]

Federal Debt Spiral: SchiffGold Friday Gold Wrap 09.14.18

The SchiffGold Friday Gold Wrap podcast combines a succinct summary of the week’s precious metals news coupled with thoughtful analysis. You can subscribe to the podcast on iTunes.

Debt as Far as the Eye Can See

While mainstream pundits and talking heads cluck about great jobs number and amazing economic growth, by and large, they completely ignore the fact that the entire economy is built on giant piles of debt. In our Friday Gold Wrap podcast last week, Mike Maharrey talked about the fact that the economy is drowning in debt, focusing […]

Cost of Servicing US Debt Hits Decade High

After Pres Trump signed a bill raising the debt ceiling last fall, we warned that rising interest rates could crush the US federal budget under interest payments. Well, interest rates are going up and so is the cost of servicing the US government’s $21-plus trillion debt.

Three Reasons Gold Will Rise from Its Slumber

The price of gold has languished in recent weeks. After falling below $1,300 in May, the yellow metal has hit 2018 lows this month. Dollar strength along with the anticipation of further Federal Reserve rate hikes have bolstered the dollar and weighed on gold. Peter Schiff has been saying this dollar strength is merely an upward […]

Who Is Buying US Treasuries?

The Japanese and Chinese aren’t buying US Treasuries. In fact, both countries reduced their holdings in April. According to the US Treasury Department, the Japanese disposed of $12.3 billion in US debt. Meanwhile, Chinese Treasury holdings fell by $5.8 billion. This could be a troubling development for the US government as it scrambles to fund its […]

The Federal Government’s Fiscal Train Wreck: SchiffGold Friday Gold Wrap 06.08.18

The SchiffGold Friday Gold Wrap podcast combines a succinct summary of the week’s precious metals news coupled with thoughtful analysis. You can subscribe to the podcast on iTunes.

US Treasury Sets First Quarter Borrowing Record

The US government has hit borrowing levels not seen since the peak of the financial crisis. The US Treasury’s net borrowing totaled $488 billion from January through March, according to a statement released Monday. That was $47 billion more than the department’s estimate. It was also a record for first quarter borrowing, according to Bloomberg.

“A-List” Economists Agree: The US Is Going Broke

Jim Rickards called them “A-list of top-tier economists.” Michael Boskin, John Cochrane, John Cogan, George Schultz and John Taylor are all senior fellows at the prestigious Hoover Institute. And they all agree on one thing. The US is going broke.

The Ace Up China’s Sleeve

Last week, Pres. Trump said US markets might have to endure some short-term pain if the trade war with China escalates. But never fear, in the long run, everything will be great! We have to do things that other people wouldn’t do. So, we may take a hit, but you know what, ultimately, we’re going […]