Peter's Blog

The Fed Is Losing Money; So What?

The Federal Reserve is bleeding money and losses are mounting. So, what does this mean? Is the central bank in danger of going under? Hardly. In fact, losing money isn’t a problem for the Fed at all. But it is a big problem for the US government.

Thomas Jefferson’s Blueprint for Handling the National Debt

The way Thomas Jefferson handled the national debt should serve as a blueprint for today. But instead, modern presidents look more like college students on a spending spree with their first credit cards.

When They Say the US Government Has Never Defaulted They’re Lying

The fake debt ceiling fight is on and the Biden administration has ratcheted up the scare tactics. One of its strategies is to make you think the world will collapse if the US defaults on its debt obligations. After all, the US always pays its bills on time — so we’re told. A default would […]

Fiscal 2023 Budget Deficit Already Approaching a Half-Trillion Dollars

Just four months into fiscal 2023 and the US federal budget deficit is already approaching half a trillion dollars. This is a big problem for the Federal Reserve that few people seem to be talking about.

Ron Paul: Debt Ceiling Fight Hysteria and Hypocrisy

Fight! The kids are throwing punches in the halls of Congress and there doesn’t seem to be a responsible adult willing to step in to stop it. We’re talking about the debt ceiling fight that kicked off last week when the US government bumped up against its statutory borrowing limit.

The Trillion-Dollar Coin: A Dumb Idea That Won’t Go Away

Policy wonks and government people come up with some really dumb ideas. And a lot of those dumb ideas just won’t go away. Now that we’re in the early stages of the fake debt ceiling fight, a really dumb idea has been resurrected from the dead – the trillion-dollar coin.

A Dog and Pony Show: SchiffGold Friday Gold Wrap Jan. 20, 2023

Pop some popcorn and get ready for the next political dog and pony show. The US government bumped up against its statutory borrowing limit this week. In this episode of the Friday Gold Wrap podcast, host Mike Maharrey talks about the looming debt ceiling fight and the deeper problems that will inevitably get ignored as […]

Here We Go Again! It’s Time for Another Debt Ceiling Fight

Here we go again. The clock is ticking down to another US debt ceiling fight. According to Treasury Secretary Janet Yellen, the US government will officially bump up against the debt ceiling Thursday (Jan. 19).

US Monthly Budget Deficit Up 299% Year on Year in December

The US government ran an $85 billion budget deficit in December, according to the Monthly Treasury Department Statement. That was much lower than November’s massive $248.5 billion shortfall, but don’t be deceived by the drop. December is typically a low deficit month. The relatively big shortfall indicates the federal government is on a trajectory to […]

Ron Paul: The Mother of All Economic Crises on the Horizon

For the last several years, we’ve enjoyed the fruits of an economic bubble blown up by easy money and debt. But ultimately, that debt is going to be the economy’s undoing. Simply put, these debt levels are unsustainable without runaway inflation. So, pick your poison.