Peter Schiff

Consumer sentiment unexpectedly tanked to 51 in August from 55.2 in July, as year-ahead inflation expectations rose to 4.3%. Imagine how much lower consumer sentiment would be if consumers realized that future inflation would actually be a lot higher than they expect. Got gold?

I noticed Wikipedia is asking for donations. Never donate anything to Wikipedia. The world would be a better place if Wikipedia didn't exist. It's a highly biased propaganda arm of the radical left, spreading disinformation and fake news to advance a far-left political agenda.

Retail sales unexpectedly fell 0.6% in July, the biggest monthly drop since May 2025. The drop in real spending is greater, as retail sales aren't inflation adjusted. When consumers pay more but buy less, living standards fall. A rising cost of living raises nominal retail sales.

The national debt is above $39.9 trillion. So there is less than $100 billion to go to hit $40 trillion, which will happen by month-end, if not sooner. As the debt spirals out of control, the Fed will crank up the printing press to buy Treasuries, sending consumer prices soaring.

Forget about what Warsh says; pay attention to what the Fed does. The Fed's balance sheet expanded by $11.388 billion last week. If the Fed was serious about its 2% target, it would be shrinking its balance sheet. While Warsh talks about fighting inflation the Fed is creating it.

Last Week Was the Warning... What Comes Next Is Bigger https://t.co/2y7lAHlWeH

The slightly better than expected PPI report means nothing regarding future inflation, which is headed much higher. As with CPI, the improvement came from comparing the average monthly price of energy products, which went down, rather than the month-end prices, which went way up.

Last Week Was the Warning... What Comes Next Is Bigger New Episode. https://t.co/m45Rrv2xIC

The July federal deficit was $432 billion, the largest July deficit on record, up 18% from July 2025. The fiscal-year deficit is already $1.8 trillion with two months remaining (the national debt rose by $2.13 trillion over those ten months), exceeding the entire FY2025 deficit.

My last podcast has already topped 300,000 views on YouTube alone—a new record for the show. And that doesn’t even include everyone listening on other platforms. Watch tonight's podcast on YouTube and help me break the record again. So many technical issues with last night's podcast recording that it won't go live until later this afternoon. But I figured out how to prevent these issues next time. Live and learn.

Gold and Bitcoin are very different asset classes, which is why they react differently to the same economic news. Following the release of CPI data, which matched expectations without increasing the odds of a needed Sept. rate hike, gold is up 1.5% while Bitcoin is down 0.4%.

July’s 0.1% CPI rise is misleading. Energy prices fell because CPI compares monthly average prices. But oil and gasoline rose sharply during July after starting the month at depressed levels. That means July CPI still reflects May's oil price collapse, not July's sharp rebound.

Gold is trading at $4,412, up $45 this evening. We are getting back to strength coming during Asian trading hours, which is the way it was prior to the correction that started when the Iran war broke out. The correction is clearly over. Gold will likely soon be back above $5,000.

Bitcoiners are expecting Bitcoin to eventually follow gold and silver higher. This naive belief is based on the misconception that Bitcoin fits into the same asset class as precious metals. Bitcoin is a highly speculative collectible digital token. It's not a monetary metal.

Gold is now above $4,400. Silver is approaching $66. The market is telling you something. Are you listening? Silver is above $66 now.

Trump claims there is nothing wrong with Truth Social selling early access to his market-moving posts for $100K per month because selling early access is standard industry practice. Except it is not standard for a company to be owned by POTUS, with exclusive access to his posts!

Gold and silver rallied today, along with oil's 5% rise. Metals are breaking free of the recently developed negative correlation with oil. Gold and oil should rise together, as inflation pushes the CPI and bond yields higher, while the U.S. economy weakens as more jobs disappear.

Gold and silver are rallying as stocks, bonds, and Bitcoin are selling off. Get used to it. Gold and silver are already up $40 and $2 respectively following last week's huge gains. War and inflation are bullish for precious metals. Load up now while you can still afford to buy.

When gold initially broke out, Bitcoin broke down. When gold corrected, that's when Bitcoin bounced. Now that the gold correction is over, and gold is back in rally mode, Bitcoin has resumed its decline. Bitcoin is anti-gold. The more gold goes up, the more Bitcoin will go down.

It seems @Saylor has given up on the idea of digital credit. $MSTR is consistently selling Bitcoin now to buy dollars, as lenders don't have confidence in Bitcoin as collateral. They prefer "good" old-fashioned fiat money as superior protection. Sell MSTR and sell Bitcoin now!

Given that last week's stock market rally was inspired by more false claims by Trump that the U.S. won the war and the Strait of Hormuz would completely reopen in days, it's surprising that stocks are not selling off, especially given the persistent weakness in Treasuries.

Strategy sold another 1,690 BTC last week for $108.6M at an average of $64,262, and sold $653 million worth of discounted $MSTR shares, to raise cash to pay future dividends and buy back $STRC, reducing the YTD Bitcoin yield to just 1.7%, an 87% reduction since May 25th. Ouch!

Dems think Trump is far right because they've moved so far left. To the extreme left, even a left-of-center Rep like Trump looks far-right. The question is whether Dems are moving left and pulling Reps left to compete, or Reps are moving left and pushing Dems further left to win.

Everything I Warned You About Just Happened... All in One Week https://t.co/bMWpYF4cok

The U.S. national debt now exceeds $39.835 trillion. The larger the debt grows, the harder it is for the Fed to raise interest rates, but the more important it becomes to raise rates, as the growing debt is what's driving the Fed to create inflation to help finance it. Got gold?

Everything I Warned You About Just Happened... All in One Week New Episode. https://t.co/PnDU9hRYp8 Here is the boat in June, moored in the Exumas. https://t.co/Dgi6pMngQ2

This week silver rose 12.3%, gold rose 7.8%, the NASDAQ rose 4.7%, and Bitcoin rose 3.7%. Enough said.

Trump describes the $400 million White House ballroom as a "gift to America." I don't consider turning the White House into a palace so Washington elites can throw lavish balls average Americans will never attend a gift to America. Americans need more freedom and less government.

As I've been forecasting, a weak U.S. labor market, already massive and soaring federal debt, and the need to keep Japan from selling Treasuries mean the Fed won't hike rates no matter how far above 2% annual CPI gains rise. Inflation will become a much bigger problem. Got gold?

David Kelly of JPMorgan just told @CNBC that as long as wage gains are slow, the Fed shouldn't act to contain inflation. But inflation that excludes wages makes it an even bigger problem for workers, and therefore heightens the urgency for the Fed to do something to contain it.