Show Notes
Peter Schiff breaks down the Treasury's panic move to rescue the bond market, the $40 trillion debt milestone, and gold's $185 reversal day.
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The Treasury just doubled its bond buybacks. Peter Schiff says that's the government admitting the bond market is broken.
On the same day the national debt topped $40 trillion, the Treasury announced it is doubling its long-term bond buybacks from $2 billion to $4 billion... buying the bonds everybody else is selling, and funding it by issuing more short-term debt. Peter calls it what it is: a panic move, a Hail Mary to suppress rising yields after the 30-year hit 5.3%, its highest in over 19 years. Refinancing debt locked in at a 3.44% average coupon with 4% T-bills makes no financial sense, which is exactly why it's happening... the government is scared, not stupid.
The market rendered its verdict immediately. Gold reversed off a $185 rally to close above $4,500, silver cleared $66, and the miners surged 8-12%, while hawkish FOMC minutes were shrugged off entirely. Peter explains why this Treasury version of Operation Twist forces the Fed to follow with real QE... a program that will have to dwarf 2008's... why Bitcoin's pop above $70,000 is built on hope, and why the housing data shows the panic is justified.
Chapters: 00:00 Treasury Panic Move 01:05 Bond Yields Hit New Highs 02:58 Debt Explosion Politics 07:00 Treasury Buyback Twist 10:23 QE Next And Fed Cornered 16:04 Hawkish Minutes Gold Surge 24:03 Markets React Unevenly 24:20 Dollar Drops Oil Jumps 25:08 Fed Inflation Bind 26:30 Debt Era Comparison 27:40 Jobs Data Media Spin 29:17 Bitcoin Versus Metals 31:19 Housing Slump Mortgages 33:59 Tariffs Canada Trade 37:50 Buybacks Won't Work 42:26 QE Addiction Ahead 44:34 Boat Update Farewell
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