Peter Schiff says Trump’s ‘numbing the pain’ of America’s $40T debt problem — protect your retirement before crisis hits

Economist and gold advocate Peter Schiff claims President Trump is "numbing the pain" of America's $40 trillion debt issue through the administration's "Operation Twist." Schiff argues that this policy, which involves buying long-term government bonds to lower yields, fails to address the underlying debt problem and could lead to a fatal sovereign debt crisis for the dollar and U.S. economy.

Treasury announced in August it would double the maximum size of certain buybacks involving 10- to 30-year Treasury securities from $2 billion to $4 billion per operation. However, experts warn that such purchases are insufficient to reduce federal spending, deficits, or borrowing needs. Higher long-term Treasury yields could impact mortgage rates, corporate borrowing costs, and other loans, potentially leading to pain for investors who need to sell long-duration bond funds during a rate surge.