The US needs a Secretary of the Debt not Tresury

Peter Schiff recently stated that perhaps the U.S. should put a picture of Lance Armstrong on its currency because it is backed by artificial stimulants. Schiff also stated that the U.S. doesn't need a Secretary of the Treasury. The United States needs a Secretary of Debt, because there is no treasury with $17 trillion dollars of debt.


Peter Schiff is a well-known commentator appearing regularly on CNBC, TechTicker and FoxNews. He is often referred to as "Doctor Doom" because of his bearish outlook on the economy and the U.S. Dollar in particular. Peter was one of the first from within the professional investment field to call the housing market a bubble. Peter has written a book called "Crash Proof" and a follow-on called "The Little Book of Bull Moves in Bear Markets". He is the President of EuroPacific Capital, which is a brokerage specializing in finding dividend-yielding, value-based foreign stocks.