The Peter Schiff Show Podcast

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1. Debt Interest Is About to Pass Social Security... Here's What Breaks

   3 november 2026 · 55 min

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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. Lees meer

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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…

2. America Is About to Vote for Socialism... Get Ahead of It Now

   27 oktober 2026 · 1 uur 1 min

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   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…

3. 2008 and 2021 Are Hitting at the Same Time... The Inflation Bomb Is Lit

   21 oktober 2026 · 59 min

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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. Lees meer

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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 G…

4. Gold Should Have Soared This Week... Traders Just Handed You a Gift

   18 oktober 2026 · 38 min

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   Producer prices rose 1.3% in one month, 17% annualized. Gold and silver fell anyway, and that is a gift. Lees meer

   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.

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5. Fannie Mae Just Crashed 23% in Three Days... Home Prices Are Next

   15 oktober 2026 · 1 uur 12 min

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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. Lees meer

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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 T…

6. Worse Than 2008. Worse Than COVID. And They Call It a Boom.

   10 oktober 2026 · 56 min

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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. Lees meer

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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…

7. Tariffs Failed. Imports Hit a Record. France Is Rioting. We're Next.

   7 oktober 2026 · 58 min

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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. Lees meer

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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 Bon…

8. Jobs Missed. Wages Stalled. Tariffs Failed. Bonds Fell Anyway.

   3 oktober 2026 · 51 min

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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. Lees meer

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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…

9. Every Crisis I Warned About Is Converging... This Is the End Game

   30 september 2026 · 56 min

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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. Lees meer

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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 Housin…

10. This Happened Twice in 100 Years... Both Times, Stocks Fell 49%

    27 september 2026 · 1 uur 8 min

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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. Lees meer

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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 …

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