Peter's Blog

The National Debt Is a Ticking Time Bomb

Last week, the national debt pushed above $32 trillion. This is a ticking time bomb that will eventually explode.

National Debt Quietly Blows Past $32 Trillion

The great anti-federalist Brutus wrote, “I can scarcely contemplate a greater calamity that could befall this country, than to be loaded with a debt exceeding their ability ever to discharge.” And here we are. With little fanfare, the national debt blew past $32 trillion last week.

Big May Shortfall Pushes 2023 Budget Deficit Well Over $1 Trillion

Congress “solved” the debt ceiling problem by effectively eliminating borrowing limits for the next two years. But it did nothing to address the underlying problem. And that underlying problem is painfully obvious when you look at the monthly budget deficits the federal government continues to run month after month. In May, the Biden administration piled […]

A Surging National Debt Is Bullish for Gold

The debt ceiling drama ended with fake budget cuts and a shiny new credit card with no limit for the federal government. We can now expect a big surge in the national debt as the US government plays catch up after nearly six months up against its borrowing limit. So, how might this impact the […]

I Told Ya So! SchiffGold Friday Gold Wrap June 9, 2023

In this episode of the Friday Gold Wrap, host Mike Maharrey engages in a little “I told you so!” discussing a couple of things he got right, including his assertion that the real problems would start after the debt ceiling deal and that it was important to keep your eye on the commercial real estate […]

National Debt Surges By Over $350 Billion in One Day After Debt Ceiling Deal

I warned you. I said when the fake debt ceiling fight ended, the real problems would begin. Well, the debt ceiling fight is over, and here we are. On the first working day after the so-called Fiscal Responsibility Act went into effect, the national debt surged by $359 billion.

Fake Debt Ceiling Fight Yields Fake Spending Cuts and a Credit Card With No Limits

We have a debt ceiling deal. And the deal is there is functionally no debt ceiling until January 2025.

A Premium Episode: SchiffGold Friday Gold Wrap June 2, 2023

If you buy gold or silver, you’re going to pay a premium. So, what exactly is a premium and how is it determined? In this episode of the Friday Gold Wrap, host Mike Maharrey answers common questions about premiums. He also discusses the debt ceiling deal and reveals where Americans rank gold as a long-term […]

When the Solution Becomes the Problem: SchiffGold Friday Gold Wrap May 26, 2023

The debt ceiling “crisis” is coming to a head.  We’re pretty confident Republicans and Democrats will strike a deal and raise the debt ceiling. That’s supposed to solve the problem. But Friday Gold Wrap podcast host Mike Maharrey says the solution is the problem. In this episode, he also offers some bullish perspective on silver.

Three Debt Ceiling Lies Politicians Keep Telling You

We are in the midst of yet another debt ceiling fight. This is mostly political theater. That being the case, both Democrats and Republicans are using the drama in an effort to score political points and push policy in their preferred direction. And since politicians are involved, they’re telling a lot of lies.