Peter's Blog

The Fed Monetized More Than Half the Massive Federal Pandemic Debt

The US government continues to run massive budget deficits. That means it has to sell bonds to finance the debt. So, who’s buying all these Treasuries? The Federal Reserve is buying a lot of them as it continues to monetize the ever-growing federal debt. Between March 2020 and March 2021, the central bank monetized more […]

Ron Paul: Fed Inflation Is Propping Up Big Government Spending

Inflation came in hot in April. Initially gold sold off on the news. But over the following week, there appears to have been something of a pivot in the market. Gold and the dollar both started behaving as one would expect in an inflationary environment. Peter Schiff said it looks like investors are starting to […]

Another Month, Another Huge Budget Deficit

The US government ran another huge budget deficit in April. The shortfall came in at $225.58 billion, running the total budget deficit through the first seven months of fiscal 2021 to a record $1.9 trillion, according to the Treasury Department’s Monthly Treasury Statement. That compares with a $1.5 trillion deficit through the first seven months […]

Who Wants Gold? SchiffGold Friday Gold Wrap April 23, 2021

There’s been some chatter in the financial media about the decline of the gold market. Gold is a relic of the past and crypto will replace it as the go-to safe haven and inflation hedge, according to some. But as host Mike Maharrey explains in this episode of the Friday Gold Wrap podcast, the demise […]

Government Spending Doesn’t “Stimulate” the Economy

The US government ran a record $1.7 trillion deficit through the first half of fiscal 2021. That’s a staggering budget shortfall, but only a symptom of the real problem – excessive government spending. We’re told this will “stimulate” the economy. But in the long run, it does no such thing.

Peter Schiff: Bernie Madoff Could Have Been Fed Chair or Treasury Secretary

When Federal Reserve Chairman Jerome Powell appeared on 60 Minutes recently, he was asked what it takes to become the head of the central bank. In a clip from podcast episode 679, Peter Schiff said that when you think about the actual qualifications, Bernie Madoff would have made the perfect Fed chairman. Or perhaps the […]

US Government Debt Problem Even Worse Than Advertised

Through the first six months of fiscal 2021, the US government ran a record $1.7 trillion budget deficit. And there is no end in sight to the borrowing and spending. Just last month, the national debt eclipsed $28 trillion for the first time. But it’s even worse than that. A lot worse.

It’s Not a Problem! Until It Is: SchiffGold Friday Gold Wrap April 16

CPI came in even hotter than expected signaling rising inflation. The US government is running a massive record budget deficit. But we’re told these things aren’t a problem. Budget deficits don’t really matter. Inflation is transitory. But how can we be so sure? On this episode of the Friday Gold Wrap podcast, host Mike Maharrey […]

Jerome Powell Admits Federal Budget “Unsustainable” But Assumes We Can Fix It Later

Through the first six months of fiscal 2021, the US government ran a record $1.7 trillion budget deficit. Federal Reserve Chairman Jerome Powell said this is sustainable – for now. During a webinar sponsored by the Economic Club of Washington DC, Powell said the economy can handle the current debt load. But he did warn […]

Budget Deficit Surges to Record $1.7 Trillion in Just Six Months

The US government ran a budget deficit of $659.59 billion in March, pushing the budget shortfall to a record $1.7 trillion through the first half of fiscal 2021, according to the Treasury Department’s Monthy Treasury Statement. The March budget deficit ranks as the third biggest monthly shortfall in US history, driving Uncle Sam the biggest […]