The Peter Schiff Show Podcast
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Über den Podcast
Peter Schiff is an economist, financial broker/dealer, author, frequent guest on national news, and host of the Peter Schiff Show Podcast. The podcast focuses on economic data analysis and unbiased coverage of financial news, both in the U.S. and global markets. As entertaining as he is informative, Peter packs decades of brilliant insight into every news item. Join the thousands of fans who have benefited from Peter’s commitment to getting the real story out to the world.
Folgen 1.016
4.15% Inflation. $3 Trillion Deficits. We’re in the Final Stages.
Hot CPI sank gold $120, and Peter Schiff explains why it's a gift, why Saylor is propping up Stretch, and what Trump got wrong on 60 Minutes.📢 Please Support Our Sponsors:- Function. Get more insight on how …
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Hot CPI sank gold $120, and Peter Schiff explains why it's a gift, why Saylor is propping up Stretch, and what Trump got wrong on 60 Minutes.
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Another hot CPI print knocked gold down $120... and Peter says it's good news being sold as bad news.
Peter Schiff breaks down the October CPI: up 0.4% against 0.3% expected, with core up 0.3% for the second straight month, and no year-over-year number because last year's shutdown left no comparison. Prices are already up 4.15% in the first ten months of 2026, the worst year since 2022, and 5% is in play. Gold dropped as much as $120 and the miners gave back 5% after an 18% run since the midterms, but Peter explains why traders keep dumping gold on proof that inflation is worse than they thought, and why the smart money buys those dips. Waller floats 50 basis points in December, Logan wants two more hikes, Bowman says there is more work to do, yet the Fed is boxed in by the debt and will never hike enough to win.
On Bitcoin, Strategy sold another $284 million of common stock to buy back $283.8 million of Stretch, having already repurchased over 20% of the issue at a 12% dividend while diluting shareholders. Bitcoin is down 16% this year after losing 6.3% last year, on track for its first back-to-back annual decline in 18 years. Peter also takes apart the Democrats' affordability promises built on bigger government, and Trump's 60 Minutes interview: record exports with a record trade deficit, record stock highs that 11 of the last 13 presidents also had, and a $3 billion jump in net worth, mostly from crypto and World Liberty Financial, that he claims he can't explain while insisting he has no idea what his sons are doing. Those answers won't survive the congressional hearings coming next.
Chapters:
00:00 Final Stages Warning
01:01 CPI Surprise Breakdown
02:53 Gold Drops on Bad News
07:46 Traders Misread the Fed
11:19 Fed Talk and Rate Hikes
14:58 Bitcoin and Strategy Trouble
21:24 Midterms and Affordability Myth
24:09 Deficits Are the Inflation Tax
24:47 Cycle of One Term Presidents
28:23 60 Minutes and Media Editing
36:14 Trump Interview Fact Checks
49:09 Corruption Hearings Ahead
53:34 Buy the Metals Sell Bitcoin
56:05 Wrap Up and Follow on X
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Privacy & Opt-Out: https://redcircle.com/privacyBitcoin Was a Trump Trade... Now the Democrats Are Coming for Crypto
Democrats took Texas and the Senate... Peter Schiff explains why 2028 is lost for the GOP, why deficits explode, and why gold is the only winner.📢 Please Support Our Sponsors:- Proton Pass. Go to …
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Democrats took Texas and the Senate... Peter Schiff explains why 2028 is lost for the GOP, why deficits explode, and why gold is the only winner.
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The Democrats just took the Senate and flipped Texas... and Peter says the markets still have no idea what comes next.
Peter Schiff called the sweep a day before the vote, and the result was bigger than even he expected: nine Senate seats flipped, 56 Democratic senators, 44 to 45 House seats, and Texas electing its first Democratic governor in 36 years. No Republican has won the White House without Texas since 1968. Peter explains why that sets up a Democratic socialist president in 2028 with a filibuster-proof Senate, and why Trump, punished by voters for lying about the economy, will taco out of his veto pen and hand the Democrats every dollar of spending they want. Deficits explode, the debt ceiling goes, and $5,000 stimmy checks are back on the table.
Then the market read: a 1,400-point rally that reversed into a 2,000-point drop as the AI trade cracked, Nasdaq down 4% on the week, while gold held $4,070, silver 51.82, and the miners jumped 9.6%. Bitcoin is sitting on Strategy's cost basis after six years, and Peter says the Trump trade that propped it up is finished. Plus the jobs report, consumer credit exploding because people are broke, and why Fox News still can't admit there is no Trump boom.
Chapters:
00:00 Deficits Inflation Warning
01:01 Midterm Prediction Recap
02:33 Why Trump Won 2016
06:33 Promises vs Reality
08:57 Ballroom and War Backlash
12:24 Historic Democratic Wave
18:27 Texas Florida Shift
24:25 2028 Landslide Forecast
29:12 Veto Myth Spending Surge
32:23 Spending Surge Ahead
33:48 California Wealth Tax Reality
36:00 Wall Street Whiplash
37:10 AI Bubble Deflates
39:30 Gold Silver Breakout
41:37 Bitcoin Warning Signs
45:23 Trump Trades Unwind
51:01 Debt Ceiling and Price Caps
52:34 Oil War and GOP Fallout
55:34 Jobs Data and Credit Stress
01:00:55 Protect Yourself Plan
01:02:28 Final Sign Off
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Privacy & Opt-Out: https://redcircle.com/privacyDebt Interest Is About to Pass Social Security... Here's What Breaks
Interest on the debt is about to pass Social Security, and Peter Schiff explains why the Fed is trapped and QE is coming back.📢 Please Support Our Sponsors:- HomeServe. Join the millions of customers who trust …
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Interest on the debt is about to pass Social Security, and Peter Schiff explains why the Fed is trapped and QE is coming back.
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Next year, interest on the national debt passes Social Security, and the Fed has no way to fight the inflation that follows.
Peter Schiff breaks down Wednesday's Fed decision. Kevin Warsh held rates at 3.75% to 4% while calling the economy strong, admitting inflation is still too high and conceding that policy is accommodative. After one 25 basis point hike against a 125 basis point rise in inflation, Peter calls it what it is: the Kevin Warsh show, tough talk with nothing behind it.
The real constraint is the debt. Interest has already passed defense and is on track to pass Social Security next year, even if rates hold. Hiking enough to beat inflation would push the interest bill toward $3 to $4 trillion against barely $5 trillion in tax revenue, so the Fed is boxed in: the hike cycle gets abandoned and QE comes back. Peter also covers gold below $4,000 and silver below $50 as a buying opportunity, the AI selloff hitting Alphabet, Intel and the Mag 7, and why a Democratic Congress will mean bigger deficits, not gridlock.
Chapters:
00:00 Debt Interest Time Bomb
01:08 Back From New Orleans
02:16 Gold Silver Shock Drop
04:28 Fed Holds Rates Steady
05:50 Tough Talk No Action
11:38 Politics And The Pause
16:47 Warsh As Fed Puppet
21:58 Inflation Worsens Ahead
24:16 Democrats Congress Risks
28:10 No Gridlock Ahead
29:19 Blame Game Strategy
31:22 Voters Blame President
32:26 Federal Aid Threats
34:30 Five Thousand Checks Pitch
36:04 AI CapEx Market Cracks
38:36 Fed Pause Then QE
40:24 Deficits Pressure Bonds
42:38 Oil SPR And Metals
46:10 Warsh Is All Talk
47:10 Why Rates Cant Rise
52:53 Gold Silver Call To Act
54:58 Puerto Rico Tax Angle
56:24 Wrap Up And X Spaces
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#PeterSchiffShow #NationalDebt #FederalReserve
Privacy & Opt-Out: https://redcircle.com/privacyAmerica Is About to Vote for Socialism... Get Ahead of It Now
They can't harm you if they can't find you! Use code PETERSCHIFF at the link below and get 60% off an annual plan: https://incogni.com/peterschiffPrinting money was the cure. Now it's the disease, and the next …
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They can't harm you if they can't find you! Use code PETERSCHIFF at the link below and get 60% off an annual plan: https://incogni.com/peterschiff
Printing money was the cure. Now it's the disease, and the next crisis arrives with no medicine left.
Peter Schiff explains why the Fed won't hike this week despite inflation that keeps rising: the decision is political, not economic, and rates are still far too low. Brazil just showed what happens when voters choose socialism, with Brazilian stocks down 23% in dollars in one day, roughly a Black Monday, and Peter argues Americans are about to make the same choice in the midterms. He takes apart the record $55.4 billion in farm welfare, the rent-seeking behind it, and why the consumer pays twice: once at the grocery store and again in the subsidy.
Peter also explains why the Republican "tax cuts" are no cut at all when the deficit is financed by inflation and 7.5% mortgages, why California's "one-time" billionaire wealth tax is the camel's nose under the tent, and why the air coming out of the AI bubble matters more than Wall Street admits: when it pops, governments and companies are fighting over the same scarce credit, and there is no bailout money left. Gold at $4,000 is the floor, not the ceiling, and the gold sell-off is happening for the wrong reason.
Chapters:
00:00 Debt Crisis Warning
00:38 Podcast Setup and Fed Week
01:45 Why the Fed Won’t Hike
02:35 Politics Behind Rates
04:40 Fed Still Inflating
05:18 Brazil Election Shock
08:16 Bolsonaro vs Lula Framing
11:02 Democracy and Socialism
13:25 Farm Subsidy Blowup
18:46 Subsidies Raise Food Costs
21:10 Tobacco Subsidy Contradictions
23:38 Free Market Farming Case
24:12 Protectionism and Imports
27:47 Seen vs Unseen Politics
30:10 Republicans Becoming Democrats
32:00 Farm Subsidy Reality Check
32:54 Why Energy Subsidies Backfire
34:59 Tax Cuts vs Spending Truth
38:25 Medicare Politics Flip
40:44 Obamacare Insurance Logic
42:53 How Government Warps Markets
46:34 AI Bubble Loses Air
48:11 California Wealth Tax Playbook
53:44 Debt Crisis and Inflation Spiral
54:56 Gold and Silver Selloff Opportunity
57:45 Conference Mood and Buy the Dip
59:36 Fed Talk and Final Signoff
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Privacy & Opt-Out: https://redcircle.com/privacy2008 and 2021 Are Hitting at the Same Time... The Inflation Bomb Is Lit
Producer prices just annualized to 17%. Banks sit on $2 trillion in mortgage losses. Peter Schiff explains why 2008 and 2021 are both hitting at once.📢 Please Support Our Sponsors:- Ethos. Protect your family …
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Producer prices just annualized to 17%. Banks sit on $2 trillion in mortgage losses. Peter Schiff explains why 2008 and 2021 are both hitting at once.
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Producer prices just annualized to 17%, and banks are sitting on $2 trillion in mortgage losses before a single default.
Peter Schiff says the data looks like late 2020 and early 2021 all over again. September PPI rose 1.3% in one month, core PPI annualizes to 9%, import prices are up 8.1% year over year and export prices 11.6%. These are the leading indicators of consumer prices, and the CPI is already up 4% in the first nine months of 2026. Peter forecasts CPI above 7% in 2027, worse than any year under Biden, while Fed Chair Kevin Warsh has delivered a single 25 basis point hike.
Housing looks like 2007. Pending home sales just hit the lowest level in the index's history, builder confidence is the weakest since 2012, and new homes now sell for less than existing ones. Lenders hold $8.5 trillion in fixed-rate mortgages at an average 4.6% coupon, about $2 trillion underwater, four times the realized losses of the 2008 crisis. Peter explains why the Fed cannot bail out housing with QE while inflation is this hot, why Fannie and Freddie will need another bailout, and why the dollar sits at the center of what comes next.
Chapters:
00:00 Inflation and Housing Collide
02:42 Fed Averaging Target Nonsense
05:45 COVID Stimulus Fueled Inflation
09:36 PPP Fraud and Fed Balance Sheet
14:31 Transitory to Political Fallout
18:08 2026 CPI Surge and Weak Growth
22:42 Polls Turn on Trump Economy
26:17 Energy Shock and PPI Warning
29:30 Fed Behind Inflation
32:05 Import Export Price Shock
34:27 Gold Silver Mispricing
35:00 Housing Crash Parallels
39:07 Builders Slash Prices
42:32 Affordability Math Breaks
43:53 Banks Mortgage Loss Trap
51:05 Defaults And Bailouts Ahead
54:18 Fed Cornered By Inflation
56:54 Protect Wealth And Diversify
58:19 Politics Deficits And Dollar
01:00:22 Closing And Subscribe
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Privacy & Opt-Out: https://redcircle.com/privacyGold Should Have Soared This Week... Traders Just Handed You a Gift
Producer prices rose 1.3% in one month, 17% annualized. Gold and silver fell anyway, and that is a gift.Peter Schiff wraps a week of hotter-than-expected inflation data: September CPI up 0.6%, PPI up 1.3% …
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Producer prices rose 1.3% in one month, 17% annualized. Gold and silver fell anyway, and that is a gift.
Peter Schiff wraps a week of hotter-than-expected inflation data: September CPI up 0.6%, PPI up 1.3% against 0.5% expected with core up 0.7%, import prices up 1.1%, and export prices up 2.2% in a single month and 11.6% year over year. Traders sold gold, silver and bonds on the idea that the Fed will get tougher, but the numbers show the Fed has already lost. Fed Chair Kevin Warsh is a dove in hawk's clothing, with one 25 basis point hike in five months while the balance sheet and money supply keep growing. Gold ended near $4,145 and silver near $56.85, a buying opportunity for anyone who understands what comes next.
He explains why a mortgage crisis is brewing: $8 trillion of fixed-rate mortgages averaging 4.6% with rates at 7.5% means $2 trillion in unrealized losses before a single default, more than four times the losses of the 2008 crisis. Plus inflation under Trump versus Biden, oil above $101 as the Strategic Petroleum Reserve drains, $1.4 trillion in annual interest on the national debt, and why Peter is dressed as Goldmember.
Privacy & Opt-Out: https://redcircle.com/privacyFannie Mae Just Crashed 23% in Three Days... Home Prices Are Next
September prices rose 0.6%, or 7.4% annualized. Peter Schiff explains why the Fed has already lost the inflation fight and housing is next.📢 Please Support Our Sponsors:- AG1. For a limited time, save 20% on …
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September prices rose 0.6%, or 7.4% annualized. Peter Schiff explains why the Fed has already lost the inflation fight and housing is next.
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September prices rose 0.6% in a month. Annualized, that is 7.4% inflation, and Washington never reports it that way.
Peter Schiff breaks down the September CPI report: a 0.6% monthly gain, 3.7% year over year, and a hotter-than-expected core reading. Washington annualizes GDP to make it look bigger but never annualizes inflation. Markets sold off across bonds, gold, silver and tech, and the odds of an October rate hike jumped from about 15% to over 40%. Peter explains why Fed Chair Kevin Warsh is a dove in hawk's clothing, with one 25 basis point hike in five months while the money supply and balance sheet keep growing. The Fed has already lost the inflation fight, which makes the sell-off in gold and silver a buying opportunity.
He traces the spiral: deficits drive inflation, inflation drives rates, and higher rates widen the deficits again. With the 30-year mortgage above 7.5% and Fannie Mae and Freddie Mac down more than 20% in three days, home prices have to fall. Plus the Beige Book's stagflation signal, 479 new 52-week lows against 60 new highs, and why Richard Heart's arrest confirms Peter's call on HEX.
Chapters:
00:00 Deficit Inflation Spiral
01:02 CPI Shock Breakdown
03:47 Markets React Rate Hike Odds
07:28 Gold Mispriced Opportunity
08:08 Fed Hawk Talk Exposed
10:18 Why Bonds Lose to Inflation
14:24 Housing Standoff Fannie Freddie
16:36 QE Return Dollar Risk
17:18 Buy the Dip Pitch
18:37 Inflation Hawks Smoke Mirrors
21:24 Socialism vs Capitalism Defined
28:20 Trump Ceasefire Reality Check
31:36 Tariffs and 5000 Check Promises
35:27 AI Work Guide Plug
36:10 Beige Book Stagflation
37:16 Stock Market Reality Check
39:18 Big Banks Double Standard
43:32 AmEx Deal Fallout
46:01 Debanking And Politics
48:22 Smoking Gun Email
57:44 FOIA Evidence Trail
01:00:11 Media And Government Corruption
01:05:54 Nick McKenzie Theory
01:12:21 Crypto Fraud Arrest
01:14:16 Gold Silver Signoff
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Privacy & Opt-Out: https://redcircle.com/privacyWorse Than 2008. Worse Than COVID. And They Call It a Boom.
Consumers are more worried now than at 2022's 40-year inflation high. Peter Schiff shows why the 'greatest economy ever' is pure fiction.📢 Please Support Our Sponsors:- My Patriot Supply. Save almost $300 on …
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Consumers are more worried now than at 2022's 40-year inflation high. Peter Schiff shows why the 'greatest economy ever' is pure fiction.
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Consumers are more worried about their finances than at any point in 75 years. Washington calls it a boom.
Peter Schiff takes apart the claim that America has the greatest economy in history. The University of Michigan's current conditions index just fell to an all-time low in a survey that dates to 1951. Households were less worried during the Cuban missile crisis, the 1970s gas lines, 9/11, the 2008 financial crisis, COVID and the 40-year inflation high of 2022 than they are today. Loan delinquencies are the highest since 2010, and the biggest wealth gains are going to households headed by someone 75 or older, because the same policies that raise the cost of living also inflate the stocks they own.
Peter argues the weak economy explains the week's politics: a diesel deal with Russia three weeks after a law authorizing 100% tariffs on buyers of Russian energy, a pledge not to bomb Iran until after the midterms, and a committee of Trump appointees investigating Fed governor Lisa Cook. He also covers Fed minutes in which officials concede policy is not restrictive, a 30-year Treasury yield that reached 5.73%, why 7.4% mortgages are a return to normal, the week in gold, silver and Bitcoin, and why barring Microsoft from sponsoring foreign workers sends those jobs, taxes and spending overseas.
Chapters:
00:00 Record Low Confidence
01:03 Trump Boom Claims
03:39 Michigan Sentiment Shock
06:58 75 Years of Crises
11:19 Great Economy Fiction
11:36 Winter Prep Sponsor
12:46 Polls and Debt Stress
16:19 Who Benefits From Boom
17:54 Russia Diesel Flip Flop
22:29 Iran Timing and Markets
24:16 Rename AI to SI
26:06 Lisa Cook Probe Committee
28:51 Mortgage Fraud Politics
30:53 Fed Minutes More Hikes
32:02 Bond Yields New Normal
33:05 Bitcoin Real Estate Debate
36:40 High Debt High Rates
38:15 Weekly Market Recap
39:03 Gold Silver Buy Zone
40:27 Bitcoin Anniversary Reality
42:50 Treasury Yields Reality Check
44:43 H1B Visa Backlash
46:30 Who Owns The Job
52:42 Remote Hiring Consequences
56:29 Wrap Up And Sign Off
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Privacy & Opt-Out: https://redcircle.com/privacyTariffs Failed. Imports Hit a Record. France Is Rioting. We're Next.
Tariffs failed, imports hit a record, and France is rioting. Peter Schiff explains why America's sovereign debt crisis is next.📢 Please Support Our Sponsors:- Noom. The Noom GLP-1 Program starts at $39 and is …
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Tariffs failed, imports hit a record, and France is rioting. Peter Schiff explains why America's sovereign debt crisis is next.
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Imports hit a record in August, the tariffs failed, and France just showed America where runaway debt ends.
Peter Schiff opens with the August trade deficit: $105.6 billion against a $99 billion forecast, with total imports at a record high despite Trump's tariffs. The tariffs did not reduce buying; they only made imports more expensive. Prices paid in the ISM services survey rose to 74, the highest since July 2022. Peter argues Republicans squandered two years of control and that Trump could have forced a balanced budget by vetoing debt ceiling increases, but pushed to abolish the ceiling instead.
France is the preview. Its 10-year yield of 4.75% now sits below America's 5.28%, its government spends 57% of GDP, and even timid proposals to slow spending growth are meeting protests in the streets. Peter explains why the eurozone failed exactly as he warned in the 1990s, then makes the case that keeping America out of World War I would have prevented World War II. With gold below $4,200 and silver near $60, he argues precious metals are the last safe haven as sovereign debt crises spread.
Chapters:
00:00 Global Debt Unrest
00:42 Stocks Hit Records
02:37 Trade Deficit Shock
07:40 Tariffs Backfire
10:48 Inflation Signals Rising
12:51 GOP Spending Failure
16:28 Veto Power Missed
18:25 MAGA Loyalty Machine
25:09 France Bond Spread Alarm
30:47 France Cuts Spark Protests
32:55 Welfare State Backlash
33:41 Pension Changes Explained
34:40 Healthcare and Sick Pay Tweaks
36:27 Freezes and Token Cuts
38:24 Debt Crisis and ECB Limits
39:18 Eurozone Moral Hazard
43:23 ECB Bailouts and Inflation
44:26 France as US Warning
45:11 Brazil Election Market Reaction
47:38 Tucker Interview on War
49:31 Why WWI Led to WWII
55:13 Unintended War Consequences
01:00:09 Wrap Up and Gold Pitch
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Privacy & Opt-Out: https://redcircle.com/privacyJobs Missed. Wages Stalled. Tariffs Failed. Bonds Fell Anyway.
Peter Schiff on a 29,000 jobs miss, weak wage growth, a $132.6B trade deficit, Trump's inflation remark, and why bonds sold off anyway.📢 Please Support Our Sponsors:- Odoo. Get your first application free for …
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Peter Schiff on a 29,000 jobs miss, weak wage growth, a $132.6B trade deficit, Trump's inflation remark, and why bonds sold off anyway.
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Peter Schiff breaks down the September jobs report: just 29,000 jobs against an 85,000 estimate. July was revised back to negative 10,000 and August down to 133,000. Unemployment rose to 4.2%, private payrolls added 46,000, and average hourly earnings rose only 0.1%, the smallest monthly gain in more than five years, while August CPI rose 0.4%. Peter had forecast both the miss and the downward revisions on Tuesday's podcast.
Peter explains why the bond market sold off despite the weak report and softer August PCE data, even as the odds of an October rate hike fell sharply. The 10-year Treasury closed the week at 5.28% and the 30-year at 5.63%, which he calls classic bear market action. He also covers personal income rising 0.2% against spending up 0.9%, a 4.1% savings rate, and an August trade deficit of $132.6 billion, the fourth worst in US history, which he says shows tariffs have not reduced imports and that importers are the ones paying them.
On stocks, Peter notes the Nasdaq hit an intraday record while 147 stocks made new 52-week lows against 38 new highs on the week, breadth he compares to 1999-2000 and 1973. He responds to President Trump's interview comment that inflation will pay off the debt, arguing it amounts to a sell signal for bondholders, and disputes Trump's claim that he inherited inflation from Biden.
Peter reviews gold near $4,140, silver at $60.37 and the miners, Bitcoin near $84,500 and Strategy's Stretch trading back near par, and argues the data points to stagflation, with AI capital spending propping up GDP. He discusses the G7's 100 million barrel oil reserve release, mortgage rates he thinks could reach 8% this month, risks to housing, autos, credit and Fannie and Freddie, $40 trillion in debt at 5% interest, Janet Yellen's past comments on low rates, and Rick Santelli's final day at CNBC. He closes by urging listeners to buy the dip in gold and silver, with support near $4,000 and $60.
Chapters:
00:00 Bond Crisis Warning
01:02 September Jobs Shock
03:02 Revisions and Labor Details
06:22 Wages Lag Inflation
08:16 Bonds Sell Off Anyway
12:36 Income Spending PCE
15:47 Trade Deficit Tariffs
20:13 Stocks Ignore Rising Yields
26:48 Trump Inflation Pays Debt
28:06 Inflation Pays Debt Claim
29:02 Who Owns Inflation Blame
30:17 Bondholders Get Burned
31:20 Weekly Market Scorecard
31:49 Gold Silver Yield Paradox
34:13 Stagflation And AI Distortion
36:17 Bitcoin Strategy Stretch Update
38:35 Bond Vigilantes Take Over
40:21 Oil Reserves And Mortgage Shock
45:08 Debt Math And Crisis Setup
49:51 Midterms And Voter Reality
51:56 Buy Metals And Wrap Up
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#PeterSchiffShow #JobsReport #BondMarket
Privacy & Opt-Out: https://redcircle.com/privacyEvery Crisis I Warned About Is Converging... This Is the End Game
Peter Schiff on record bond yields, a 12-year low in consumer confidence, the end of the 40-year refi era, and why gold is the last safe haven.📢 Please Support Our Sponsors:- Proton Pass. Go to …
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Peter Schiff on record bond yields, a 12-year low in consumer confidence, the end of the 40-year refi era, and why gold is the last safe haven.
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Bond yields hit new highs on weak data, consumer confidence sank to a 12-year low, and Peter says the end game has arrived.
The 30-year Treasury touched 5.62% and the 10-year closed at 5.26%, two weeks after 5% was supposed to be the ceiling. What makes this week different is that bonds sold off on bad news: consumer confidence collapsed to 81.9, the lowest in 12 years and below the depths of the pandemic, job openings missed, and yields rose anyway. Peter's warning is direct: if Friday's jobs number is weak and bonds still fall, the orderly grind lower becomes a crash. Gold's $170 drop is the market getting this backwards. Money leaving bonds ends up in gold, the last safe haven standing.
The bigger story is housing. America is now in the worst quadrant, high debt and high rates, which it has never lived through. For 40 years mortgage rates only fell, from 18% in 1981 to 2.65% in 2021, and homeowners rode that wave with serial cash-out refis that turned the house into an ATM. At 7.4% and headed past 8%, that era is over: no more refis, no cash out, no wealth effect, with homes at five times income and down payments at 13.8%. Fannie and Freddie are down 75% while the government buys more mortgage bonds. Neither party will name a cut. Every crisis Peter has warned about is converging, and he says to get your plan B in order.
Chapters:
00:00 Bond Crash Warning
01:02 Yields Surge and Mortgages
02:59 Gold Dip and Safe Haven
07:11 Weak Data Ignored
13:21 Housing Market Cracks
14:48 Password Security Ad
16:00 High Debt High Rates Era
19:17 Housing Bubble Math
23:56 Refi Boom Ends
28:24 Home Prices Next Drop
31:30 Noom Weight Loss Pitch
33:07 GSE Stocks Get Crushed
35:50 Trump Hype And Dump
39:39 PSA Or Campaign Ad
42:41 Deficits Nobody Will Cut
47:59 Affordability Promises Backfire
50:08 Socialism Messaging Trap
52:12 AI Hope Versus Debt Crisis
56:02 Fed Out Of Tricks
56:43 Prepare For The Storm
57:28 Wrap Up And Plan B
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Privacy & Opt-Out: https://redcircle.com/privacyThis Happened Twice in 100 Years... Both Times, Stocks Fell 49%
Peter Schiff on why 86% of the S&P is already in a bear market, the 1973 and 2000 parallels, 5% Treasury yields, and new IRS emails on his bank.📢 Please Support Our Sponsors:- My Patriot Supply. Get a 3-Month …
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Peter Schiff on why 86% of the S&P is already in a bear market, the 1973 and 2000 parallels, 5% Treasury yields, and new IRS emails on his bank.
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Market breadth has only been this bad twice in 100 years, and both times the S&P 500 fell nearly 50%.
Peter Schiff opens with the relentless rise in long-term yields: the 10-year Treasury closed at 5.16%, the 30-year at 5.49%, and the five-year at 5.00%, while stocks shrug it off. Mortgages sit above 7% only because the Trump administration ordered Fannie and Freddie to buy, and Peter expects 8% regardless. Bond yields rose even as oil fell from $100 to $92, showing the bond market has decoupled from the Fed narrative. The S&P is 0.7% from a record, but the average stock is 19% below its high, 60% of stocks are in bear territory, and new lows outpaced new highs three to one. Peter compares this to January 1973 and early 2000, the only two precedents, both followed by roughly 49% declines. He also covers the Michigan sentiment drop to 48.1 and the hoarding psychology behind it, Bill Ackman's call to raise the inflation target, why rising yields are bullish for gold, and the Trump-Xi meeting that produced no commitments. The second half returns to Euro Pacific Bank: newly unredacted IRS emails reveal an MOU with OCIF and no answer when the IRS-CI chief asked what the bank did wrong, while the receiver has repaid 78 of roughly 3,500 customers in four years and paid himself over $850,000.
Chapters:
00:00 Breadth Crash Warning
00:59 Bond Yields Surge
04:40 Global Rates and Mortgages
07:37 Oil Link Breaks
11:01 Consumers and Hoarding
14:58 Markets Misread Gold
18:47 Hidden Bear Market Breadth
21:06 History Rhymes Again
23:21 Ackman and Inflation Target
29:15 China Summit and Tariffs
33:05 Bank Shutdown FOIA Fight
38:20 FOIA Fight With IRS
39:11 Settlement And New Disclosures
42:03 Press Conference Double Standard
43:46 Jim Lee Email Questions
47:10 MOU Proof Of Coordination
50:56 Unanswered Questions Expose Narrative
55:02 Publicity Stunt Motive
56:04 Portugal Freeze Fallout
57:23 Receivership Numbers Breakdown
01:04:40 Government Vs Free Market Rant
01:06:41 Congress Won't Act
01:07:41 Wrap Up And Investing Pitch
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Peter Schiff serves as Global Strategist of Euro Pacific Asset Management, LLC (“EPAM”), an SEC-registered investment adviser. The views and opinions expressed are those of Mr. Schiff as of the date of recording and may change without notice. Certain statements concerning historical events and regulatory matters reflect Mr. Schiff’s interpretation of the facts and information available to him.
Market and investment commentary is provided for informational purposes only and does not constitute individualized investment advice or a recommendation to buy or sell any security. Investing involves risk, including possible loss of principal. International investing involves additional risks, including currency, political, economic and regulatory risks.
For information regarding EPAM’s investment advisory services, please visit europac.com. Registration with the SEC does not imply a particular level of skill or training.
Privacy & Opt-Out: https://redcircle.com/privacy22-Year High Yields. Record Diesel. McDonald's Gave Up on 2%.
Peter Schiff on 22-year high yields, record diesel, McDonald's inflation warning, and Trump's claim he told Warsh how to vote.📢 Please Support Our Sponsors:- AG1. For a limited time, save 20% on your first …
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Peter Schiff on 22-year high yields, record diesel, McDonald's inflation warning, and Trump's claim he told Warsh how to vote.
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Peter Schiff reviews the rise in Treasury yields to multi-decade highs and what 5% rates would mean for interest on the $40 trillion national debt. He opens with a comment Donald Trump made after the Fed's 25 basis point hike: that he told Kevin Warsh he "might as well vote with the board." Peter argues that either Trump is lying or, if the conversation happened, the Fed chairman is clearing his votes with the president, and that Warsh should be asked directly at the next press conference.
He then turns to the bond market. The five-year auction cleared at 5.03%, the highest in just over 20 years; the 30-year reached 5.41%, a 22-year high, and the 10-year hit 5.12%. He expects the 10/30 spread, now under 30 basis points, to widen back toward 50 or more, and suggests shorting the 30-year against the 10-year. If the government pays 5% on $40 trillion, interest would run $2 trillion a year, about 35% of tax revenue and more than Social Security, with the debt growing by more than $3 trillion a year. He says stock investors still assume yields are near a top.
McDonald's stock fell about 5% after its CEO said inflation would stay elevated for "many more years," which Peter contrasts with Warsh's claim that expectations are anchored at 2%. He agrees with Warsh that growth does not cause inflation; loose monetary policy does.
Diesel set another record above $6.50 a gallon, near $10 in California. Peter argues a diesel export ban would cut production, and that drawing down the Strategic Petroleum Reserve leaves nothing for a real emergency.
On the midterms, he notes Democrats are now 65% favorites to take the Senate, with cost of living the top issue, and blames Trump rather than Biden for inflation, while the Gulf conflict looks to be worsening. He criticizes the White House for pulling credentials from CNN, Politico and MS Now, recounts Trump's reaction to his Fox & Friends appearance, and discusses California's lawsuit against Trump Media over selling early access to Trump's posts for $50,000 to $100,000 a month, which he calls insider information.
Peter closes with his Schiff Sovereign Plan B conference in Panama, which drew 130 to 140 attendees, and the story of his grandparents arriving through Ellis Island in 1902 and 1903 with no paperwork. His argument: the problem is not immigrants but the welfare state, and listeners should get their financial house in order, including gold, silver and TGold.
Chapters:
00:00 Diesel Hits Record Highs
00:52 Back From Panama Update
03:19 Trump Fed Comment Fallout
09:34 Treasury Yields Break 5%
12:42 Debt Interest Disaster Math
17:30 McDonalds Warns Inflation Years
22:20 Diesel Export Ban And SPR Risks
27:23 Midterms Senate Odds Shift
30:40 War And Media Crackdown Concerns
31:38 Press Ban Fallout
33:18 Fake News Double Standard
33:38 Fox Interview Backlash
35:54 Truth Social Insider Edge
37:12 Market Moving Posts Explained
41:13 GOP Hypocrisy Warning
43:06 Panama Plan B Conference
45:27 Why Panama Appeals
47:40 Gilded Age Tariff Myth
48:45 Open Immigration Then
55:21 Welfare State Border Reality
59:23 Plan B Portfolio Prep
59:51 Signing Off Anniversary
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#PeterSchiffShow #nationaldebt #inflation #federalreserve
Privacy & Opt-Out: https://redcircle.com/privacyThe Fed Hiked Rates 0.25%. It Won't Stop What's Coming.
The Fed hiked a quarter point. Peter explains why it will not stop the bond market, the dollar, or what is already coming for housing.📢 Please Support Our Sponsors:- NetSuite. If your revenues are at least …
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The Fed hiked a quarter point. Peter explains why it will not stop the bond market, the dollar, or what is already coming for housing.
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The Fed finally hiked. Peter says the quarter point changes nothing about what is already in motion.
The Federal Reserve raised the fed funds rate 25 basis points to 3.75 to 4 percent, a 90 percent probability going in and a unanimous vote coming out. Peter's read is that none of that signals resolve. The Fed did not hike because it wanted to. Months of tough talk had stopped working, the bond market had called the bluff, and the committee was left with a put-up-or-shut-up moment it could not dodge. So it did the smallest thing available, and Kevin Warsh gave the shortest press conference of his tenure on the way out.
A quarter point does not touch inflation heading for a four handle, not with oil above 100 dollars and diesel at record highs. The reason the Fed will not do more is not caution, it is capacity. A hike large enough to break inflation would break the economy and the Treasury's ability to fund itself.
The market understood immediately. The Dow closed down roughly 600 points after being green before the announcement, and the 10-year Treasury pushed back above 5 percent, which Peter calls a stepping stone to 6. He also covers Trump's demand for sub-1 percent rates, Scott Bessent's testimony, why 8 percent mortgages are coming, and why he expects gold to recover from this selloff quickly.
Chapters:
00:00 Fed Hikes Under Pressure
00:33 Markets Priced In the Move
03:46 Fed Cornered by Inflation Talk
06:38 Symbolic Hike and Market Fallout
10:11 Fiscal Policy and Real Inflation
21:31 Bond Yields Surge and Trump Reacts
32:28 Import Cold Turkey Fallout
33:40 Tariffs And China Surplus
35:08 Empty Shelves Economic Crash
36:18 Five Thousand Dollar Dividend
44:30 Bonds For Bombs And Meme Coins
53:32 Crypto Politics Gold Outlook Farewell
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#PeterSchiffShow #FedRateHike #Inflation #Gold #BondMarket
Privacy & Opt-Out: https://redcircle.com/privacyI'm Banned From Fox News for This Forecast... It Just Came True
Fox dropped Peter for saying inflation would accelerate. August CPI proved it. Now an 88% rate hike, 19-year-high yields, and $100 oil.📢 Please Support Our Sponsors:- My Patriot Supply. Check out the Be Ready …
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Fox dropped Peter for saying inflation would accelerate. August CPI proved it. Now an 88% rate hike, 19-year-high yields, and $100 oil.
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Peter got dropped from Fox News for saying inflation would accelerate. August CPI just proved him right.
Last December Peter went on Fox News and said prices were still rising and the rate of increase would accelerate. Trump called him a Trump hater; Fox stopped booking him. Today's CPI: up 0.4% for August, 3.4% year over year, core hotter than expected, PPI running 5.4%, oil back over $100. Consumer inflation expectations jumped to 4.6%. Everything he said would happen has happened, while the president told a Republican convention this week that prices are "rapidly going down."
Markets now put 88% odds on a rate hike next week, and Peter says the Fed has backed itself into a corner: Warsh has talked tough for so long that not hiking ends the Fed's credibility. But a symbolic 25 basis points "ain't gonna cut it" when inflation is rising faster than rates. The bond market already knows. The 10-year hit 4.97%, a 19-year high, the 30-year 5.35%, and Peter argues we're only six years into a bear market where 5% is nowhere near the top, with $40 trillion of debt to refinance. He also takes apart Trump's $5,000 "dividend" (a bribe paid from $4 trillion of new debt), calls gold dips a gift, and says Bitcoin's chart projects to zero.
Chapters:
00:00 Fox News Inflation Call
00:34 9/11 Reflections and Liberty
05:27 CPI Report and Fed Odds
14:16 Symbolic Hike Won’t Work
36:49 Metals and Bitcoin Check
37:51 Bitcoin Head and Shoulders
39:24 Why a Midterm Convention
44:55 The 5000 Dividend Claim
57:17 Inflation Jobs and Wrap Up
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Privacy & Opt-Out: https://redcircle.com/privacyThe Bond Market Is About to Break... And Stocks Go With It
Oil near $100, copper at a record, and the Fed still says 2%. Why the bond market breaks before the stock market does.📢 Please Support Our Sponsors:- Proton Pass. Go to https://proton.me/peter to get 50% off …
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Oil near $100, copper at a record, and the Fed still says 2%. Why the bond market breaks before the stock market does.
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Oil near $100, copper at a record, and 65 straight months above 2%. Peter says the bond market breaks first.
Brent touched $99.50 and copper hit an all-time high, and Peter's point is that the Fed's 2% target was already unreachable when oil was falling. Sixty-five months above target, and now the inputs are rising again. PPI Thursday and CPI Friday could both come in hot, and if they do, the damage shows up in bonds before it shows up in stocks. The market is pricing roughly 60% odds of a hike next week. Peter doesn't think the Fed will do it, and thinks 25 basis points wouldn't matter if it did, since the market would immediately start pricing the next one.
The rest is the bill coming due elsewhere. China just posted a record trade surplus, with August exports up 25% year over year and exports to the US up 34%, which is what happens when tariffs price Americans out of the best deal rather than moving production home. Peter got the receipt himself: the courier billed him for the tariff, then billed him again to process it. Meanwhile the hyperscalers that used to park cash in Treasuries are borrowing from the same pool the government needs, at a moment when interest costs already run $1.2 trillion a year.
Chapters:
00:00 Intro
00:39 War Shock Fuels Commodities
02:15 Copper vs Gold Real Money
06:11 Iran War Drags On
21:31 Tariffs and Trade War Fallout
30:18 Producers vs Consumers
31:50 Tariffs Shift Trade
35:52 Why Trade Wars Fail
43:37 Nickels Beat Treasuries
50:59 Fed, Inflation, and Wrap-Up
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#PeterSchiffShow #BondMarket #Inflation
Privacy & Opt-Out: https://redcircle.com/privacyBond Yields Just Hit a 2007 High... Every Buyer Became a Seller
Peter Schiff on the fake jobs beat, Trump's trade ultimatum, yields at 2007 highs, a 162% tariff bill, and why the Fed is the last buyer.📢 Please Support Our Sponsors:- Proton Pass. Go to …
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Peter Schiff on the fake jobs beat, Trump's trade ultimatum, yields at 2007 highs, a 162% tariff bill, and why the Fed is the last buyer.
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The government says 162,000 jobs is a boom. Peter Schiff says it's a miss, and the bond market agrees.
The August jobs report came in at 162,000 against a 55,000 consensus, and Peter Schiff walks through why the number is worse than it looks. The birth-death model supplied 74,000 of those jobs, 45% of the total, on the assumption that new businesses were hiring. More than a third of the rest were waiters and bartenders. JOLTS and ADP both pointed the other way, last month was revised down, and real wages are falling. Kevin Hassett called it a boom; by most measures the economy is weaker than the day Trump took over.
Then Trump raised the stakes. He declared that America deserves the lowest interest rates in the world, then threatened to terminate all trade with any surplus country if the Fed doesn't cut. Peter's answer: the United States has never been a worse credit risk than it is right now. The 10-year hit 4.81% and the 30-year 5.28%, the highest since 2007. Japan has sold its Treasury holdings down from $1.3 trillion to $1.1 trillion, everyone who was buying is now selling, and the Fed will end up the buyer of last resort, which means inflation.
Peter also covers the week's real data: the July trade deficit at $88.6 billion, the biggest since March 2025; the $283 part that cost him 162% of the tariff once FedEx added its fee; diesel at a record above $5.80; Lutnick on semiconductors and Bastiat's candlemakers; Waller's rate comments sending gold back above $4,400; and an update on TGold's coming gold debit and credit cards.
Chapters:
00:00 No Buyers Left
00:29 Back In Puerto Rico
00:47 Jobs Report Miss
05:36 Real Wages Falling
06:09 Waiters And Bartenders
08:00 JOLTS ADP Contradiction
09:10 Birth Death Model
10:23 Hassett Boom Claim
13:27 Trump Rate Demands
15:20 Worst Credit Risk Ever
17:24 Trump Trade Ultimatum
24:07 Bessent Kudlow Interview
27:27 Yields Hit 2007 Highs
28:24 Yen And Japan Selling
31:14 Oil Diesel Record
33:15 Stocks Gold Silver
39:16 Trade Deficit Widens
42:02 My 162% Tariff Bill
45:37 Lutnick Semiconductors
48:33 Bastiat Candlemakers
51:08 Waller Rate Comments
53:39 Gold Pullback Gift
54:03 TGold Cards Update
1:00:24 Bitcoin And EuroPac
1:02:12 Labor Day Sign Off
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Privacy & Opt-Out: https://redcircle.com/privacyThe Bond Buybacks Just Doubled... And Now There's a Military Option
Warsh talks tough, buybacks double, a military option surfaces, gold falls $140, and boat prices collapse 50%.This episode is sponsored by Ground News. Go to http://groundnews.com/schiff to get 40% off the …
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Warsh talks tough, buybacks double, a military option surfaces, gold falls $140, and boat prices collapse 50%.
This episode is sponsored by Ground News. Go to http://groundnews.com/schiff to get 40% off the unlimited access Vantage plan and unlock world-wide perspectives on the stories shaping our world.
This episode is also sponsored by Rockwell Automation. Download their 11th Annual State of Smart Manufacturing Report at https://rok.auto/sosm
The Treasury doubled its bond buybacks this week. Then the talk turned to a military option for yields.
Fed Chairman Kevin Warsh spent his most anticipated speech of the year talking tough about inflation, and Peter Schiff explains why none of it matters. Warsh accepted responsibility for 65 straight months above the 2% target, then never once mentioned the $40 trillion national debt or the Treasury intervention running underneath him. Money supply is expanding at roughly 6% annualized since he took the job. He is talking about putting out the fire while pouring the gasoline.
Underneath the speech, the policy escalated. Treasury buybacks already doubled from $2 billion to $4 billion, with roughly a trillion in the general fund available to extend them, shortening the average maturity of the debt and leaving the government more exposed to the rate hikes markets are now pricing. And in a Fox News interview on that same intervention, a military option for lowering bond yields was raised.
Peter also covers the week's real data: gold down $140, silver reversing from nearly $71, a Chicago PMI collapse to 47.1 that was the biggest downside miss in eleven years, and a boat market where prices have fallen 50% and lenders are taking the keys, a Fed-made boom and bust he argues housing is about to repeat.
Chapters:
00:00 Inflation Firestorm
00:37 Boatcast Setup
01:02 Warsh Speech Breakdown
04:12 Debt And Twist Ignored
08:10 Forward Guidance Critique
11:19 Dual Mandate Tradeoffs
12:46 Money Supply Matters
13:56 Hawkish Talk And Markets
18:50 Trump Military Option
20:01 Canada Tariffs Fallout
27:53 Market Wrap Gold Bitcoin
31:46 Strategy Dilution Spiral
32:42 Dollar Yen Bonds Warning
34:11 Manufacturing Digital Shift
39:03 Boating Bubble Bust
45:28 Boat Costs Force Selling
48:13 West Marine Bankruptcy
53:02 Buyer Market Repos Risk
56:30 Boat Ownership Reality
57:09 Closing Politics Plug
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#BondMarket #FederalReserve
Privacy & Opt-Out: https://redcircle.com/privacyThe Treasury Just Admitted It... The Bond Market Is Broken
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.This episode is sponsored by Noom. The Noom GLP-1 Program starts at …
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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.
This episode is sponsored by Noom. The Noom GLP-1 Program starts at $39 and is delivered to your door in as little as seven days. Go to https://noom.com to learn more.
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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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Privacy & Opt-Out: https://redcircle.com/privacyThe Next Leg Down in Your Standard of Living Just Started
Peter Schiff on plunging retail sales, sticky inflation, the Fed's stealth QE, and why the world is now leaving the dollar standard.This episode is sponsored by NetSuite. For the first time ever you can try …
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Peter Schiff on plunging retail sales, sticky inflation, the Fed's stealth QE, and why the world is now leaving the dollar standard.
This episode is sponsored by NetSuite. For the first time ever you can try NetSuite Next for free. If your revenues are at least in the seven figures, Go to https://netsuite.com/gold
This episode is also sponsored by Function. Join at https://functionhealth.com/peter and use code PETER25 for a $25 credit.
Retail sales just plunged, producer prices are still rising, and the Fed is quietly expanding its balance sheet again.
The July data tells the story the markets keep ignoring. Retail sales fell 0.6 percent, the biggest drop in over a year, and since those numbers are not adjusted for inflation, real spending fell even further. Consumer sentiment sank to 51 as households braced for 4.3 percent inflation, more than double the Fed's 2 percent target. Producer prices rose 4.7 percent year over year, and instead of rallying on the weak data, the bond market sold off to its lowest weekly close of the year, with the 30-year at 5.27 percent. Meanwhile the Fed expanded its balance sheet by more than 21 billion dollars in two weeks, with the national debt about 80 billion dollars away from 40 trillion.
Peter marks 55 years since Nixon closed the gold window and calls it what it was: a 100 percent default on America's creditors. His father Irwin testified against removing gold backing in 1968, and the 1970s proved him right. Now the sequel is underway. The world is going off the dollar standard the way America went off gold, and the next leg down in the American standard of living has already started. Gold near 4,400 dollars and silver above 66 are the market's verdict.
Chapters:
00:00 Middle Class Squeeze
01:01 PPI Breakdown
04:08 Fed Balance Sheet Surge
05:23 Stagflation Signals
08:28 Bond Market Warning
11:39 Greenspan and 1987 Echoes
14:48 Stocks vs Bonds Diverge
15:33 Gold Shines Bitcoin Slips
18:16 Bitcoin Bear Case
21:08 Iran Sanctions and Oil
26:30 Nixon Gold Standard Legacy
28:52 Inflation Math Reality
29:30 Video Plug Fiat Failure
30:19 Electric Catamaran Tour
34:30 Cruising Plans Tax Credit
37:02 Gold Standard Break Explained
48:09 Dollar Standard Ending
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#Stagflation #Inflation
Privacy & Opt-Out: https://redcircle.com/privacyLast Week Was the Warning... What Comes Next Is Bigger
A record $432B July deficit, $40 trillion in debt days away, gold above $4,400... last week's fireworks were just the opening act.This episode is sponsored by Odoo. Sign up for free at …
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A record $432B July deficit, $40 trillion in debt days away, gold above $4,400... last week's fireworks were just the opening act.
This episode is sponsored by Odoo. Sign up for free at https://www.odoo.com/r/peter
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The CPI came in tame. Hours later the Treasury reported a $432 billion July deficit... the worst single month in US history.
Peter breaks down why the benign 0.1% July CPI is an accounting illusion: the BLS compares monthly averages, so June's oil collapse masked July's crude rebound, and August is set up to run hot. The real inflation news came later that day from the Treasury: a record $432 billion July deficit, $1.8 trillion in just ten months, and a national debt now less than $150 billion from $40 trillion. Bigger deficits mean more pressure on the Fed to choose inflation, which is exactly why the bond market refused to rally on the "good" CPI number.
Gold holds above $4,400 and silver above $65 as heavy Asian buying signals the de-dollarization trade is back on, while Bitcoin sits dead at $63,500 and misses the entire rally. Peter also covers the yen back above 159 and the Fed's swap-line backdoor QE for Japan, both parties drifting left after the latest primaries, Trump family corruption from Truth Social premium access to Barron's $150 million, and the Iran endgame: no deal, a closed Strait of Hormuz, and a president claiming victory in a war America clearly lost.
Chapters:
00:00 Inflation Signals Not Prices
01:22 CPI Print And Market Bets
04:24 CPI Math Masks Energy Surge
10:37 Deficits The Real Inflation Driver
19:54 Gold Surge Debt And Yen QE
31:09 Radical Left Wins Primaries
32:00 Both Parties Shift Left
34:17 Trump Corruption Claims
37:51 Bitcoin Stalls vs Gold
44:13 Iran War Reality Check
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Privacy & Opt-Out: https://redcircle.com/privacyEverything I Warned You About Just Happened... All in One Week
Peter Schiff breaks down July's negative jobs report, Japan's yen crisis, and the Fed's stealth QE bailout as gold and silver surge.This episode is sponsored by DripDrop. Stock up now at http://dripdrop.com and …
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Peter Schiff breaks down July's negative jobs report, Japan's yen crisis, and the Fed's stealth QE bailout as gold and silver surge.
This episode is sponsored by DripDrop. Stock up now at http://dripdrop.com and use promo code GOLD for 20% off
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Recording from his boat in Rhode Island, Peter Schiff covers a week that vindicated his forecasts. The July jobs report showed a loss of 23,000 jobs, with prior months revised down another 105,000 and labor force participation falling to 61.4%, a level unseen outside COVID lockdowns in 50 years. Full-time jobs have declined in six of the last seven months while wages lag inflation, confirming the stagflation Peter has long warned about. The bigger story is Japan: with the yen at a 40-year low and JGB yields at record highs, the US executed its first yen intervention since 1998, roughly ten times larger, using euros instead of dollars and blindsiding the ECB. The Fed also took Japan's Treasuries via repo and printed the dollars, a stealth form of quantitative easing that contradicts its inflation-fighting rhetoric. Markets got the message: gold jumped 7.8% to 4,341, silver surged 12.3% to 63.46 after holding above the old $50 ceiling, and GDX rocketed 22% in one week, all far outpacing Bitcoin's 3.7% gain. Peter argues the intervention is just the beginning, the Fed will not hike before the midterms, and a currency and sovereign debt crisis is approaching. He urges listeners to prepare with gold, silver, miners, and foreign stocks, and to understand the coming crisis is caused by government, not capitalism.
Chapters:
00:00 Fed Japan Bond Backstop
01:11 Back At Sea Intro
01:59 Week Ahead Jobs Japan
03:23 Stocks Metals Surge
06:23 Bitcoin Strategy Warning
09:15 Bonds Dollar Fed Odds
14:00 July Jobs Shock
15:33 Revisions Participation Drop
19:51 Wages Inflation Stagflation
24:09 Trump Ballroom Rant
26:49 Japan Crisis Tease
29:24 Japan Yen Breakdown
31:30 Debt Trap And Rates
32:23 Treasury Selling Threat
34:35 Fed And BOJ Coordination
36:08 Swap Line QE Explained
41:15 Euro Intervention Twist
44:29 Inflation Signals And Metals
47:51 Storm Warning Ahead
49:18 Blame Government Not Markets
52:07 Prepare And Spread The Word
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Privacy & Opt-Out: https://redcircle.com/privacyThe Fed Just Chose Inflation... And the Bond Market Called Its Bluff
The Fed talked tough and did nothing. The 30-year hit a 20-year high. The Dow fell 1,100 points. Gold was the only thing left standing.Tonight’s episode is sponsored by Rockwell Automation. Download their 11th …
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The Fed talked tough and did nothing. The 30-year hit a 20-year high. The Dow fell 1,100 points. Gold was the only thing left standing.
Tonight’s episode is sponsored by Rockwell Automation. Download their 11th Annual State of Smart Manufacturing Report at https://rok.auto/sosm
Tonight’s episode is also sponsored by Ethos. Protect your family with life insurance from Ethos. Get up to $3 million in coverage in as little as 10 minutes at https://ethos.com/gold. Application times may vary. Rates may vary.
The Federal Reserve left rates unchanged at 3.5% to 3.75%, exactly where they were before Kevin Warsh took over, despite a 30% market-priced chance of a hike and three FOMC members dissenting in favor of one. Peter Schiff breaks down a press conference where Warsh declared "no tolerance" for inflation above 2% while doing nothing about it, hiding behind the excuse that the Fed "doesn't have a magic wand." Nobody asked for magic, just for the Fed to use the tools it actually has: higher rates, a smaller balance sheet, slower money supply growth. Warsh delivered none of them, and Schiff argues he made the same choice as his predecessors. Inflation is a choice, and the Fed chose it again.
The markets rendered their verdict immediately. The 30-year Treasury yield hit 5.22%, its highest in roughly 20 years, the Dow fell 2.2% or about 1,100 points to close on the lows, and the Nasdaq 100 is now down over 3% on the week as the air keeps coming out of the AI bubble, with Meta down 10% after missing earnings and SanDisk off 30% in three days. Gold told the real story: it closed up $40 at 4,070 and never broke 4,000, because rising yields driven by a loss of confidence in the Fed are bullish for gold, not bearish. Schiff calls gold the last safe haven standing. He also covers consumer confidence at a five-year low, a $101.5 billion June trade deficit proving the tariffs accomplished nothing, and why Mamdani's government-run grocery stores will empty shelves, bankrupt private grocers in the poorest neighborhoods, and recreate Soviet bread lines in New York City.
Chapters:
00:00 Debt Bubble Reality
00:37 Fed Holds Rates Steady
03:34 Two Percent Target Doubts
16:05 Q&A Exposes Inaction
27:38 Markets React Bonds Stocks Gold
31:45 Yields and Gold Misread
35:02 Gold Safe Haven Case
37:40 Fed Fallout and Data
43:12 NYC Government Grocers
55:42 Capitalism and Wrap Up
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Privacy & Opt-Out: https://redcircle.com/privacyJapan Is About to Pop the Biggest Bubble in History... And It Takes Us With It
The yen just hit a 40-year low and Japan is trapped. Whether they hike or freeze, it ends the same way: the pin that pricks our bubble.Tonight’s episode is sponsored by NetSuite. For the first time ever you can …
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The yen just hit a 40-year low and Japan is trapped. Whether they hike or freeze, it ends the same way: the pin that pricks our bubble.
Tonight’s episode is sponsored by NetSuite. For the first time ever you can try NetSuite Next for free. If your revenues are at least in the seven figures, Go to http://netsuite.ai/gold
Tonight’s episode is also sponsored by Rockwell Automation. Download their 11th Annual State of Smart Manufacturing Report at https://rok.auto/sosm
Investors are far too complacent about risks that are now hiding in plain sight. The AI trade cracked this week: Alphabet fell 10% after announcing even higher CapEx, Oracle is down 41% on the year, Meta and Amazon fell, and Microsoft is nearly in a bear market. SpaceX now trades 49% below its post-IPO high with its float set to jump from 5% to 40% by year end, and Tesla dropped 18%, costing Elon Musk nearly $100 billion in a week. Peter Schiff compares the roughly three-quarters of a trillion dollars in annual AI CapEx to the dot-com build-out, where the early favorites went bankrupt and took their vendors down with them.
The bigger danger is Japan. The yen fell to a 40-year low against the dollar, the 30-year JGB yield hit an all-time high near 4%, and with debt above 200% of GDP and a policy rate still at just 1%, Japan is trapped. Whether the Bank of Japan finally hikes aggressively or stays timid, the result spills into the United States, potentially forcing the world's largest holder of US Treasuries to dump its $1.1 trillion position. Schiff calls Japan the pin that pricks the far bigger US bubble. Meanwhile the US 30-year yield hit a 20-year high of 5.16% on more than four times the debt of 2006, oil is up 30% in July guaranteeing a hotter CPI, and gold rose on the week even as bonds and stocks fell, with the miners signaling a bottom. He closes on why record-low jobless claims are meaningless in a gig economy and why Trump's new slave-labor tariffs are an unconstitutional tax on Americans.
Chapters:
00:00 Japan Sparks US Crisis
00:41 AI CapEx Reality Check
07:51 AI Bubble Parallels
13:03 Gold Miners Rebound
19:17 Oil Bonds Warning Signs
32:16 Japan Debt Rate Trap
34:36 Weak Yen Trade Deficits
37:22 Japan Creditor Status Slips
41:22 Two Japan Crisis Paths
44:26 US Vulnerability Dominoes
45:21 Unemployment Claims Hype
47:20 Why Claims Mislead
51:37 New Tariffs Legal Workaround
59:03 Wrap Up Subscribe Call
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#PeterSchiffShow #gold #inflation
Privacy & Opt-Out: https://redcircle.com/privacyThe Fed Admitted It. The Treasury Blew It. The CPI Lied.
Warsh admitted monetary policy caused inflation. Bessent thinks silver certificates still redeem at Fort Knox. And import prices are up 7.1%.This is episode is sponsored by Function. Join at …
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Warsh admitted monetary policy caused inflation. Bessent thinks silver certificates still redeem at Fort Knox. And import prices are up 7.1%.
This is episode is sponsored by Function. Join at https://functionhealth.com/peter and use code PETER25 for a $25 credit.
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Treasury Secretary Scott Bessent told Fox viewers that old silver and gold certificates can still be redeemed at Fort Knox. Gold certificates were repudiated in 1933 and silver certificates in 1968. Peter Schiff argues that if the man who signs the currency does not know basic monetary history, there is no reason to trust his assurance that the gold in Fort Knox is all there.
Markets confirmed the AI bubble is deflating. SpaceX fell 13.25% on the week to close below $124, under its $135 IPO price, and anyone who bought the post-IPO high near $225 is down 45%. Only about 5% of the company trades today, but lockups expire through year end and take the float to roughly 40%, an eightfold increase in supply. Gold closed at $4,017 and silver at $55.83, which Schiff calls a head fake created by the false narrative that war is bad for gold.
The honest inflation numbers tell a different story than the CPI: import prices are up 7.1% year over year and export prices are up 10.2%, against a reported 3.5%. Kevin Warsh admitted in Senate testimony that monetary policy caused the inflation, then offered a plan that amounts to talking about it while the Fed's balance sheet grew another $7.4 billion. Schiff also covers Trump selling paid early access to market-moving posts and explosive new FOIA emails showing Euro Pacific Bank was shut down for publicity, with the Australian Tax Office driving the operation to protect a journalist facing his defamation suit.
Chapters:
00:00 Trump Posts Paywall
01:23 Market Week Wrap
07:42 Gold Silver War
09:52 Inflation Data Reality
23:30 Warsh Hearing Grifts
37:59 AI Jobs and Progress
40:22 Trump Post and Fox Fallout
44:05 FOIA Trail and Censorship Claims
50:31 Nine Fraud Bank Shutdown Emails
57:07 Operation Atlantis PR Exposed
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#PeterSchiffShow #FortKnox #Inflation
Privacy & Opt-Out: https://redcircle.com/privacyAI Cash Cows Just Became Cash Vacuums... This Breaks the Bond Market
In 1914 the Fed ran on 40 people and no computers. Today it takes 23,000. Fire them all and let AI do it... it can't do any worse.Tonight’s episode is sponsored by Rockwell Automation. Download their 11th …
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In 1914 the Fed ran on 40 people and no computers. Today it takes 23,000. Fire them all and let AI do it... it can't do any worse.
Tonight’s episode is sponsored by Rockwell Automation. Download their 11th Annual State of Smart Manufacturing Report at https://rok.auto/sosm
This episode is also sponsored by Ethos. Protect your family with life insurance from Ethos. Get up to $3 million in coverage in as little as 10 minutes at https://ethos.com/gold. Application times may vary. Rates may vary.
Kevin Warsh delivered his first congressional testimony as Fed Chair, and Peter Schiff breaks down a hearing where everyone discussed inflation while misdefining the term and ignoring their own role in causing it. June CPI came in at -0.4% versus the expected -0.1%, dropping year-over-year inflation to 3.5% — but the entire decline came from a temporary oil price drop that is already reversing as the Iran war reignites and oil climbs back 20% in July. Bond yields tell the real story: the 30-year is back near 5.1% and the 10-year near 4.6%, erasing nearly the entire post-CPI rally.
Schiff's biggest revelation from the hearing: the Fed employs 23,000 people to do a job that required just 40 when it opened in 1914 — with no computers — and argues the entire institution could be replaced by a single AI or abolished outright. He dismantles Warsh's claim of "regime change" at the Fed as being as fake as regime change in Iran, exposes the redefinition of "price stability" to mean prices that rise just slowly enough that people stop complaining, and shows how the 2% target was always a lie invented to justify inflation. He covers Warsh admitting inflation is a tax while planning to keep levying it, the court throwing out Trump's self-negotiated IRS settlement that granted his family immunity, and the AI CapEx bubble turning tech's biggest cash generators into massive borrowers that will break the bond market.
Chapters:
00:00 AI Spending Arms Race
01:08 Markets Brace for CPI
06:07 CPI Surprise and Gold Whipsaw
07:34 Oil Driven Inflation Mirage
11:40 What Inflation Really Means
14:11 Congress and Fed Share Blame
17:58 Fed Headcount Shock
22:32 Two Percent Target Myth
27:05 Regime Change and Price Stability
33:40 Day One Recap Continues
34:09 Grow My X Account
35:13 Congress Inflation Theater
36:06 Trump Grift Claims
37:30 IRS Settlement Outrage
39:51 Rates Versus Balance Sheet
41:08 Who Wins Low Rates
43:46 Fed And Black Workers
49:09 AI Bubble Warning
51:15 Hyperscalers Debt Spiral
55:38 Bond Market Breaking Point
58:16 Strategy Stock Dilution
01:00:30 Bitcoin Levels And Regrets
01:01:30 Subscribe And Sign Off
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#PeterSchiffShow #FederalReserve #AIBubble
Privacy & Opt-Out: https://redcircle.com/privacyThe Bond Market Breakdown Has Started... Stocks, Housing, Crypto Are Next
A new housing law just passed that guarantees prices go higher. Bonds are breaking. And every bank bullish on Bitcoin refuses to buy Stretch.This episode is sponsored by Upwork. Visit https://upwork.com right …
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A new housing law just passed that guarantees prices go higher. Bonds are breaking. And every bank bullish on Bitcoin refuses to buy Stretch.
This episode is sponsored by Upwork. Visit https://upwork.com right now and post your job for free to connect with top talent ready to help your business grow.
This episode is also sponsored by Ground News. Go to http://groundnews.com/schiff to get 40% off the unlimited access Vantage plan and unlock world-wide perspectives on the stories shaping our world.
Watch more episodes: https://www.youtube.com/watch?v=TE0fyjt4Occ&list=PL9hNbo_Ztnr9cAg2Ee0Tiid1quEU1imiS
The Iran peace deal collapsed and the war is back on, yet US stock markets barely reacted — the AI bubble powering tech kept the S&P and Nasdaq positive while gold and silver sold off, with gold closing at $4,019 and silver falling 3.5% below $60. Bond yields climbed back to cycle highs with the 10-year at 4.56% and the 30-year at 5.06%, and Peter Schiff sees a major breakdown ahead that will hit stocks, housing, and crypto simultaneously.
The 21st Century Road to Housing Bill became law without Trump's signature, and Schiff argues it will make housing worse, not better. Nine decades of government housing policy — every program sold as making homes more affordable — have produced the least affordable housing in American history, because subsidizing demand raises prices and the money ends up in sellers' pockets. Trump has openly said he wants home prices to rise, in the middle of an affordability crisis. Meanwhile SpaceX fell 36% from its highs in under two weeks with every open-market buyer underwater and lockup expirations still ahead. Every Wall Street firm covering Bitcoin is bullish — Citi at $82K, Standard Chartered at $100K, Bernstein at $150K, JP Morgan at $170K — yet not one is buying Stretch at $87.48, where a 13.7% yield proves the market doesn't believe Bitcoin can appreciate 12% a year. They don't believe their own forecasts.
Chapters:
00:00 Markets Defy Bad News
01:38 War Tensions and Metals
05:11 Bond Yields Warning Signs
06:57 AI Bubble and IPO Mania
11:42 Bitcoin Hype and Wall Street
17:07 Dollar Flat Oil Rising
18:09 Housing Bill Political Fight
19:54 Affordability Crisis Explained
24:16 How Subsidies Inflate Prices
32:03 Bubble Collateral Trap
32:58 Jobs Report Media Spin
34:40 Housing Supply Not Subsidies
37:20 Save America Act Debate
41:25 Voting Rights Republic Critique
52:49 Democracy Incentives Corruption
57:12 Two Party No Choice
58:42 Podcast Wrap Up
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Privacy & Opt-Out: https://redcircle.com/privacyWe Need Another Emancipation. This Time From Our Own Government
Iran deal dead. DOGE dead. Saylor selling at a loss. Medieval serfs kept more of their income than you do. I warned you about all of it.This episode is sponsored by DripDrop. Stock up now at http://dripdrop.com …
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Iran deal dead. DOGE dead. Saylor selling at a loss. Medieval serfs kept more of their income than you do. I warned you about all of it.
This episode is sponsored by DripDrop. Stock up now at http://dripdrop.com and use promo code GOLD for 20% off
This episode is also sponsored by Rockwell Automation. Download their 11th Annual State of Smart Manufacturing Report at https://rok.auto/sosm
The Iran peace deal collapsed and the war is back on, with Trump acknowledging he was "two weeks from a depression" when he agreed to the MOU — a confession Peter Schiff says handed Iran all the leverage. Oil jumped 6% to $75, but the real story is bond yields: the 10-year hit 4.58% and the 30-year 5.07% — nearly at cycle highs despite oil being 25% below its peak, proving the debt, not the war, is driving yields higher.
FOMC minutes revealed that 9 of 13 members now support rate hikes after zero did just 90 days ago — theatrics Schiff says Warsh is orchestrating to appear hawkish without ever delivering. The May goods trade deficit exploded to $106.5 billion despite Trump's tariffs, continuing the pattern from his first term. DOGE was officially shut down with zero spending cuts achieved. Strategy sold 3,588 Bitcoin at a $15,000 per coin loss while Stretch sank to $86, and Trump's new savings accounts give kids $1,000 in borrowed money they'll repay through inflation. Schiff closes by noting that medieval serfs kept 75% of their output — more than the average American keeps today — making modern taxpayers lower in status than feudal peasants.
Chapters:
00:00 Freedom Versus Slavery
00:46 Iran Deal Collapses
05:04 Markets React to War
07:15 Oil Bonds and AI Bubble
16:17 Fed Minutes Rate Hike Theater
21:28 Tariffs Inflation Excuses
26:10 Real Rates and Debt Trap
27:41 Trade Deficit Reality Check
30:03 AI Threat to Services Surplus
32:32 Democracy Deficits and Rights
34:59 Rights And Healthcare
36:28 Housing And Free Markets
40:08 Tax Cuts And Wealth Theft
45:55 Taxes And Modern Slavery
48:25 DOGE Shutdown And Bitcoin Crash
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Privacy & Opt-Out: https://redcircle.com/privacyThey Don't Want You to Hear This on Independence Day
Saylor authorized $1.25B in Bitcoin sales. 514K full-time jobs vanished. Trump made $2.2B selling access. 250 years later, we need another revolution.• This episode is sponsored by Odoo. Sign up for free at …
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Saylor authorized $1.25B in Bitcoin sales. 514K full-time jobs vanished. Trump made $2.2B selling access. 250 years later, we need another revolution.
• This episode is sponsored by Odoo. Sign up for free at https://www.odoo.com/r/peter
The June jobs report came in at 57,000 — half of the lowest estimate — with May revised down from 172,000 to 129,000. Full-time employment collapsed by 514,000 in a single month, bringing total full-time job losses since Trump took office to 2.24 million. The labor force participation rate dropped to 61.5% as 700,000 workers simply gave up, and manufacturing has lost 73,000 jobs despite Trump's tariff promises.
Michael Saylor officially surrendered the "never sell Bitcoin" thesis, establishing a "Bitcoin monetization fund" authorizing up to $1.25 billion in Bitcoin sales to maintain dollar reserves, buy back common stock, and repurchase Stretch preferreds trading at $87.80. He raised the Stretch dividend to 12% with mandatory increases ahead. Peter Schiff argues this transforms Strategy from the market's biggest buyer into its biggest seller, removing the bid that underpinned Bitcoin's price. Trump's financial disclosure revealed $2.2 billion in income — $1.4 billion from meme coins and tokens alone — while Mar-a-Lago membership hit $1 million and the Executive Club charges $500,000 for a restaurant seat next to cabinet members. Peter closes with a 250th Independence Day reflection, arguing Americans today face more tyranny than the colonists ever did under King George, and that the revolution we need now must happen at the ballot box.
Chapters:
00:00 Holiday Intro and July 4th Tease
00:37 Jobs Report Shock and Revisions
03:43 Full-Time Jobs Slide and Tariff Reality
07:29 Fed Rate Hike Theater and Gold Bounce
16:28 Bitcoin Strategy Turns Seller
29:57 Meme Coins as Bribes
31:09 Paying for Trump Access
34:26 Debt Gimmicks and Deficits
35:38 Independence Day and Founding Ideals
45:45 Modern Tyranny and Peaceful Revolution
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Stretch hit $71 intraday. Strategy down 85% from peak. The first lawsuit just landed. And CNBC has gone completely silent.- This episode is sponsored by Pebl. Go to https://hipebl.ai to get a free estimate.The …
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Stretch hit $71 intraday. Strategy down 85% from peak. The first lawsuit just landed. And CNBC has gone completely silent.
- This episode is sponsored by Pebl. Go to https://hipebl.ai to get a free estimate.
The Strategy death spiral accelerated dramatically this week. Stretch preferred stock plunged 18% to close at $79 after hitting an intraday low of $71 — a 29% loss from par that wiped out more than two years of dividend income in weeks. Strategy common stock crashed 30% in a single week and is now down 85% from its peak, trading at a massive discount to its Bitcoin NAV. The first class action lawsuit was filed against Strategy, and Schiff expects tens of billions in total legal liability from both Stretch and common equity holders.
Saylor continued selling common stock to buy Bitcoin despite each purchase destroying shareholder value — diluting Bitcoin per share at the current discount. Schiff argues this is done solely to maintain the illusion that Strategy is still a buyer, propping up Bitcoin's price at shareholders' expense. Bitcoin fell 8.3% to below $60,000 but is only the beginning — with Strategy sidelined as a buyer and ETF holders sitting on losses, there is no marginal buyer left. Gold traded below $4,000 and silver dropped to $56 intraday before recovering, but Schiff sees this as the likely bottom of the correction and the buying opportunity of the cycle. Alan Greenspan died at 100, and Schiff eulogized him as the architect of modern monetary inflation who proved that even a gold bug will choose inflation when given the power of the printing press.
Chapters:
00:00 Death Spiral Warning
01:50 Stretch Ponzi Explained
09:36 Why It Must Collapse
18:41 This Week’s Crash Data
28:57 Lawsuits and Market Fallout
33:14 Gold and Silver Bottoming
34:43 Fed Hype and Inflation Reality
39:11 Greenspan Legacy and Gold Signal
43:21 Dump Crypto Buy Metals
52:43 Ford Wage Myth and Wrap Up
Follow @peterschiff
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Instagram: https://instagram.com/peterschiff
TikTok: https://tiktok.com/@peterschiffofficial
Facebook: https://facebook.com/peterschiff
#PeterSchiffShow #StrategyDeathSpiral #BitcoinCrash
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