The tweet was deleted by the author.
But we saved everything 🙂.
Peter Schiff, CEO and chief global strategist of Euro Pacific Capital, notes that the yield on the 10-year Treasury is 4.6% and approaching 5%, which would be the highest level since July 2007.
Schiff highlights that back in 2007, the U.S. national debt was about $9 trillion, but it is now nearing $40 trillion, more than four times higher. He argues that rising interest rates pose a far greater problem today given the increased debt burden.
Schiff has previously commented on significant shifts in asset pricing. He noted that STRC fell to $93.5, leaving early investors down 6.5% and raising its yield to 12.3%. In another instance, he pointed out that Strategy shares dropped below $85.50, trading at a steep discount to their Bitcoin-per-share value.