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POSTED ON December 29, 2021  - POSTED IN Key Gold Headlines

President Joe Biden’s “build back better” spending bill seems to be dead — at least for the time being. But there is still plenty of spending coming down the pike. This raises an important question: how is the Federal Reserve going to simultaneously taper its bond-buying program and monetize all of this debt?

On Monday, President Joe Biden signed a massive military spending bill into law.

POSTED ON October 19, 2021  - POSTED IN Videos

We have a temporary truce in the debt ceiling fight. On Thursday, President Biden signed a bill increasing the federal debt limit by $480 billion. But this isn’t an end to the debt ceiling fight. Congress just kicked the can down the road. The increase is only expected to keep the US government solvent until Dec. 3.

As Peter Schiff explained in this clip from his podcast, the debt ceiling has turned into a debt floor.

POSTED ON October 10, 2021  - POSTED IN Interviews

The fake debt ceiling fight rages on.

Last week, the US Senate agreed to a small increase in the borrowing limit, but it only kicked the can down the road a couple of months. The $480 billion increase raises the debt limit to $28.9 trillion, but that’s only going to last until Dec. 3.

Peter Schiff recently appeared on RT Boom Bust to debate economist Steve Keen and Professor Richard Wolf on the debt ceiling and more broadly the US economy.

POSTED ON October 8, 2021  - POSTED IN Fun on Friday

Have you heard the latest news on the fake debt-ceiling fight?

The Senate has approved a measure to kick the can down the road a couple of months. So, the “fight” will continue!

The $480 billion increase raises the debt limit to $28.9 trillion, but that’s only going to last until Dec. 3. That means we have time for more political theater. Yippee!

POSTED ON September 14, 2021  - POSTED IN Key Gold Headlines

The US government ran a $170.64 billion budget deficit in August, pushing the total fiscal 2021 budget shortfall to $2.71 trillion with one month to go, according to the latest Monthly Treasury Statement.

The mainstream media spun this as good news, noting that the August deficit was 15% lower than the $200 billion spending gap a year ago. This was primarily a function of higher revenues in August 2021 compared to last year. But digging deeper into the numbers reveals the US government hasn’t exactly slowed down its out-of-control spending spree, with spending last month also up compared to last year.

POSTED ON August 17, 2021  - POSTED IN Key Gold Headlines

After a briefly shrinking for two months thanks to IRS tax collections, the US government budget deficit ballooned again in July, hitting the third-highest number of fiscal 2021.

The July budget shortfall was $302.05 billion. The only months with bigger deficits in fiscal 2021 were February ($310 billion) and March ($600 billion).

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