The Peter Schiff Show Podcast

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 the complete Winter Prep Bundle, with emergency food, heat, backup power and light. Get yours while it's still available at https://preparewithpeter.com 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 Follow @peterschiff X: https://twitter.com/peterschiff Instagram: https://instagram.com/peterschiff TikTok: https://tiktok.com/@peterschiffofficial Facebook: https://facebook.com/peterschiff Free Reports & Market Updates: https://www.europac.com Book Store: https://schiffradio.com/books Sign up for Peter's most valuable insights at https://schiffsovereign.com Schiff Gold News: https://www.schiffgold.com/news #PeterSchiffShow #Inflation #Economy Our Sponsors: * Check out Fast Growing Trees and use my code GOLD for a great deal: https://www.fast-growing-trees.com * Check out Plaud AI and use my code GOLD for a great deal: https://www.plaud.ai Privacy & Opt-Out: https://redcircle.com/privacy

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 delivered to your door in as little as seven days. Go to https://noom.com to learn more. - HomeServe. Join the millions of customers who trust HomeServe. For 50% less your first year, go to https://homeserve.com/gold. Savings compared to renewal price. Void in Florida. - Function Health. Get more insight on how your body is aging with 160+ lab tests. Join at https://functionhealth.com/peter and use code PETER25 for a $25 credit. 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 Follow @peterschiff X: https://twitter.com/peterschiff Instagram: https://instagram.com/peterschiff TikTok: https://tiktok.com/@peterschiffofficial Facebook: https://facebook.com/peterschiff Free Reports & Market Updates: https://www.europac.com Book Store: https://schiffradio.com/books Sign up for Peter's most valuable insights at https://schiffsovereign.com Schiff Gold News: https://www.schiffgold.com/news #PeterSchiffShow #Tariffs #SovereignDebt Our Sponsors: * Check out Fast Growing Trees and use my code GOLD for a great deal: https://www.fast-growing-trees.com * Check out Plaud AI and use my code GOLD for a great deal: https://www.plaud.ai Privacy & Opt-Out: https://redcircle.com/privacy

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 life at https://www.odoo.com/r/peter - DripDrop. Stock up now at https://dripdrop.com and use promo code GOLD for 20% off 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 Follow @peterschiff X: https://twitter.com/peterschiff Instagram: https://instagram.com/peterschiff TikTok: https://tiktok.com/@peterschiffofficial Facebook: https://facebook.com/peterschiff Free Reports & Market Updates: https://www.europac.com Book Store: https://schiffradio.com/books Sign up for Peter's most valuable insights at https://schiffsovereign.com Schiff Gold News: https://www.schiffgold.com/news #PeterSchiffShow #JobsReport #BondMarket Our Sponsors: * Check out Fast Growing Trees and use my code GOLD for a great deal: https://www.fast-growing-trees.com * Check out Plaud AI and use my code GOLD for a great deal: https://www.plaud.ai Privacy & Opt-Out: https://redcircle.com/privacy

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 https://proton.me/peter to get 50% off, backed by a 30-day money-back guarantee. - 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. 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 Follow @peterschiff X: https://twitter.com/peterschiff Instagram: https://instagram.com/peterschiff TikTok: https://tiktok.com/@peterschiffofficial Facebook: https://facebook.com/peterschiff Free Reports & Market Updates: https://www.europac.com Book Store: https://schiffradio.com/books Sign up for Peter's most valuable insights at https://schiffsovereign.com Schiff Gold News: https://www.schiffgold.com/news #PeterSchiffShow #BondMarket #MortgageRates Our Sponsors: * Check out Fast Growing Trees and use my code GOLD for a great deal: https://www.fast-growing-trees.com * Check out Plaud AI and use my code GOLD for a great deal: https://www.plaud.ai Privacy & Opt-Out: https://redcircle.com/privacy

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 Emergency Food Kit + FREE Mega Protein Kit at https://PrepareWithPeter.com - Proton Pass. Go to https://proton.me/peter to get 50% off, backed by a 30-day money-back guarantee. - Perplexity Computer. Start your free trial today at https://pplx.ai/gold and experience the next phase of AI. 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 Follow @peterschiff X: https://twitter.com/peterschiff Instagram: https://instagram.com/peterschiff TikTok: https://tiktok.com/@peterschiffofficial Facebook: https://facebook.com/peterschiff Free Reports & Market Updates: https://www.europac.com Book Store: https://schiffradio.com/books Sign up for Peter's most valuable insights at https://schiffsovereign.com Schiff Gold News: https://www.schiffgold.com/news 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. Our Sponsors: * Check out Fast Growing Trees and use my code GOLD for a great deal: https://www.fast-growing-trees.com * Check out Plaud AI and use my code GOLD for a great deal: https://www.plaud.ai Privacy & Opt-Out: https://redcircle.com/privacy