Peter's Blog

Why the State Must Live Within its Means

While Keynesians and any number of control based economists can provide endless reasons to justify government debt, it has proven to be one of the greatest underlying problems undermining the US’s national integrity. Debt has been a contentious national issue, yet no party or politician has been serious about it enough to do anything significant. […]

The Myth of Aggregate Demand: What Really Causes Recessions

As warnings flash about the state of the economy, the Keynesians are out in full force to declare that falling aggregate demand is what causes recessions. The Austrian school can set the record straight. The following article was originally published by the Mises Institute. The opinions expressed do not necessarily reflect those of Peter Schiff […]

US Government Borrows $1.8T in Four Months

Current Trends The government hit the debt ceiling back in January which blocked any net new debt from being created from January to June. Once the debt ceiling was lifted, the government wasted no time in catching up for all the months where borrowing was frozen. From July through October, the government borrowed an eye […]

The Shutdown and the Lying Epidemic

A government shutdown is often more of a spectacle than a reality. The long-term effects are minimal and the workers going without pay are paid as soon as the new budget is put into place. While some capitalize on the inherent, dramatic nature of the moment, most seasoned political vets see it as a bargaining […]

Using Tariffs to Reduce the Deficit? Not So Fast

After posturing to use tariffs to eliminate income tax, the Trump administration has now shifted to a narrative that they’ll pay off deficits. Both promises are hollow.  Deficits as massive and persistent as ours demand massive Treasury issuance. That means markets have to absorb ever-larger supply, pushing yields higher if demand fails to keep up. […]

UBS Increases Gold Forecast

UBS recently increased its March 2026 gold forecast by $100 to $3600. As much as regulatory entities try to make gold take a back seat, everyone else seems to recognize its huge value added to any investment portfolio. The continuing acceleration of the Dollar’s decline is a huge factor in the UBS gold increase projection. […]

Trump’s Spending Spree Pushes Federal Debt to New Highs in July

This summer has not been pretty for the government’s balance sheet. As many Republicans before him, the Trump administration is spending way too much money, and new debt numbers prove it. The following article was originally published by the Mises Institute. The opinions expressed do not necessarily reflect those of Peter Schiff or SchiffGold. During […]

Bessent Trying to Undo Yellen’s Poor Debt Management

Current Trends The government hit the debt ceiling back in January and has been pursuing extraordinary measures since. This usually means dipping into things like Civil Service Retirement funds to free up cash and avoid borrowing any more money. As the chart below shows, the debt balance has been pretty much net neutral for the […]

Federal Budget: Government has its best quarter since 2022

The Federal Government publishes the spending and revenue numbers on a monthly basis. The charts and tables below give an in-depth review of the Federal Budget, showing where the money is coming from, where it is going to, and the surplus or deficit.

Gold Sits at 28% on the Year as Tariff Clock Winds Down

Gold ended last week at a record-setting US $3,332 per ounce, up 1.8 % on the week and a blistering 28 % year-to-date. The metal’s march higher has come even as Wall Street cheers fresh equity highs and a softer dollar, underscoring bullion’s stubborn appeal as fiscal storm clouds gather. Yesterday’s price action was orderly—just […]