The Peter Schiff Show Podcast Trump Administration Planning to Hijack the Fed - The Peter Schiff Show Ep 1037
Aug 22, 2025
James Hickman, also known as Simon Black of Sovereign Man, joins Peter Schiff to analyze the looming U.S. debt crisis and the Trump administration's controversial attempts to influence the Federal Reserve. They delve into the staggering national debt, the implications of rising interest rates, and the potential for a financial meltdown. Hickman draws unsettling parallels between the Fed's practices and the TV show 'Money Heist,' while shedding light on the troubling resignation of a key Fed official and the risks of government overreach in monetary policy.
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Debt Interest Consumes Growing Share Of Revenue
- The U.S. hit $37 trillion public debt and will spend about $1.2 trillion this fiscal year on interest alone.
- That interest now consumes ~22% of federal tax revenue and is crowding out discretionary spending.
Low Rates Hide Maturing Debt Risk
- Interest costs appear lower than the 1990s mainly because rates are still historically low.
- As short-term low-coupon debt matures, refinancing at higher yields could rapidly escalate the interest burden.
Political Pressure To Control The Fed
- The Trump administration is publicly pressuring the Fed to cut rates and may aim to control monetary policy.
- Replacing Fed officials with administration-friendly candidates risks politicizing rate decisions.