This 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 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