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POSTED ON May 24, 2023  - POSTED IN Original Analysis

The debt ceiling fight is getting down to the wire. In a letter to Congress on Monday, Treasury Secretary Janet Yellen said that without a debt ceiling increase, it was highly likely the government wouldn’t be able to meet all of its obligations by “early June, and potentially as early as June 1.”

Despite the drama, I still expect Congress to get a deal done. And that’s when the real problems begin.

POSTED ON May 19, 2023  - POSTED IN Friday Gold Wrap

There are a few things that Friday Gold Wrap host Mike Maharrey writes about that don’t seem to garner much interest. In this show, Mike is going to talk about two of those things, why they matter, and why you should care. He also talks about the recent drop in the price of gold and what the markets are getting wrong.

POSTED ON April 24, 2023  - POSTED IN Peter's Podcast

In January, the US government ran up against the debt ceiling, kicking off another fake debt ceiling fight. Three months later, Congress still hasn’t agreed on a plan to raise the borrowing limit. Peter Schiff talked about it in his podcast, saying the lack of a higher debt ceiling isn’t the problem; the ever-increasing spending and the debt are the problems. Refusing to raise the ceiling would provide the solution.

POSTED ON April 17, 2023  - POSTED IN Original Analysis

By hiking interest rates, the Federal Reserve has pulled some of the monetary stimulus out of the economy. While the Fed hasn’t done nearly enough to put the inflationary fire it lit with more than a decade of easy money, the cooling consumer price index (CPI) indicates that this has put a modest dent in price inflation — for now. But the Biden administration has opened the fiscal stimulus spigot even wider and this is mucking up the inflation fight. In fact, unless the federal government reins in spending, there is no way inflation will lose this fight.

That’s not going to happen.

POSTED ON March 14, 2023  - POSTED IN Key Gold Headlines

February has historically been a big budget deficit month, but the Biden administration still managed to overachieve and run the second-largest February deficit ever. The only time the US government has run a February deficit bigger than the $262.4 billion shortfall last month was in February 2021 in the midst of the COVID stimulus.

This raises an important question: between a budding financial crisis and a US government spending problem, how is the Federal Reserve ever going to get price inflation back to its mythical 2% target?

POSTED ON March 1, 2023  - POSTED IN Original Analysis

The Federal Reserve is bleeding money and losses are mounting.

So, what does this mean? Is the central bank in danger of going under?


In fact, losing money isn’t a problem for the Fed at all. But it is a big problem for the US government.

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