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The Fed balance sheet stands at $8.33 trillion, up $111 billion from the prior month-end. The chart below shows how the Fed Balance sheet has grown by instrument over the last 18 months. The major surge from COVID can be clearly seen as $2.5T was added within 2 months. The monthly changes since then reflect […]
The mainstream narrative is that the Fed will soon admit that inflation isn’t transitory. At that point, it will raise interest rates and taper its bond-buying program to fight rising prices. But this narrative ignores the elephant in the room – the ever-increasing national debt. In June, the US government ran another big deficit of […]
The US and China are reportedly getting closer to working out a trade deal. The Chinese have indicated they will import more US natural gas, semiconductors and soybeans. Peter Schiff recently appeared on RT to talk about it. He said that no matter what ultimately comes out of these trade negotiations, it’s not going to […]
The government shutdown apparently didn’t save Uncle Sam any money. The US Treasury Department said it will borrow about $8 billion more than originally estimated in the first quarter of 2019 as deficits continue to spiral upward. According to new Treasury Department projections, the US government will issue $365 billion through credit markets in the […]
The federal government ended up fiscal 2018 with the largest budget deficit since 2012. Based on the most recent US Treasury Department projections, that doesn’t look to slow down in fiscal 2019.
The SchiffGold Friday Gold Wrap podcast combines a succinct summary of the week’s precious metals news coupled with thoughtful analysis. You can subscribe to the podcast on iTunes.
Well, the midterm elections are finally over. The Republicans managed to hold on to the U.S. Senate, but the Democrats took control of the House. The “Blue Wave” was more like a “Blue Ripple.” To me, it smells a lot like gridlock, which is generally good news if you’re a person who favors smaller government. Gridlock […]
As we reported last week, China is dumping US debt. China’s holdings of US Treasuries fell for the third consecutive month in August. The Chinese shed another $6 billion in US debt, dropping its total holdings to $1.165 trillion. Over the last year, China’s holdings of Treasury bonds fell by $37 billion year-on-year. But China has […]
The US federal government posted the largest budget deficit since 2012 in fiscal 2018. Uncle Sam ended 2018 $779 billion in the red, adding to the ballooning national debt. The Bipartisan Policy Center called the Treasury report a “wakeup call,” noting that trillion dollar deficits during an economic expansion are a serious issue. But not everybody […]
On Tuesday, US stock markets rallied. The Dow was up over 500 points. That led a lot of people to conclude that the recent declines were just a correction. But as Peter Schiff pointed out in his most recent podcast, bear markets have rallies. Just because the market goes up a few days doesn’t mean […]
