Peter Schiff

As I’ve been saying, Warsh can talk the talk on fighting inflation, but he can’t walk the walk. The Fed left rates unchanged and committed to maintaining ample reserves. Warsh is correct: inflation is a choice, and just like his predecessors, Warsh has chosen inflation! Got gold?

If the Fed surprises with a rate hike today, and gold rallies anyway, this will be a sign that investors are starting to appreciate the gravity of the situation. Any real attempt to rein in inflation will crush markets and the economy, forcing the Fed to reverse course. Endgame!

Inflation is too high and headed higher. Even if the Fed hikes the federal funds rate by 25 or 50 basis points today, it’s too little, too late to make a difference, as rates will still be accommodative. The Fed also must shrink the money supply and contract its balance sheet.

.@CNBC reported that hotel operators are feeling the pressure of inflation from rising rents, utilities and insurance. But the actual inflationary pressure comes from the Fed, which chooses to monetize federal government budget deficits and keep interest rates artificially low.

Gold is down again today along with tech stocks, trading just above the $4k support level. But the weakness in both the stock market and U.S. economy, and the prospects for higher inflation and nominal interest rates, are extremely bullish for gold. Buy the metal and the miners.

Despite the tech market carnage, the broader stock market is still holding up well, with the Dow Jones up over 400 today. I expect that to change as the correction spreads. The entire U.S. stock market is overpriced, not just tech. I also expect a much bigger selloff in Bitcoin.

The AI trade continues to unwind. $SPCX is now down over 20% since its IPO. More significantly, it’s down over 52% from its high. It looks like the SpaceX IPO marked the peak of the AI bubble. AI is real, but there's a lot more air left to come out of overhyped AI-related stocks.

Oil is down close to 7% as war rhetoric over Iran is once again toned down. Yet bond yields have barely come down. This indicates underlying weakness in the bond market and suggests that the next oil rally will send yields soaring to new highs. A sovereign debt crisis is coming.

Why is $MSTR up 7% this morning? @saylor's latest move reduced the YTD Bitcoin yield to 4.5%. That yield stood at 13.3% on May 25. That’s a 66% reduction in two months! At this rate the 2026 Bitcoin yield will be negative. If you’re bullish, you’re better off just owning Bitcoin.

$SPCX is coming back down to earth. Shares just traded as low as $110.05. That’s 18.5% below the IPO price and 51% below the high. This is an example of why it’s so dangerous to rush into buying a heavily hyped IPO during its first few days of trading.

After years of publicity surrounding Operation Atlantis, the J5’s own 2024 impact report identifies no EPB-related charges, convictions, tax recoveries, seizures, or proven money laundering. Its efforts to get OCIF to shut down my bank achieved nothing toward its stated mission. In fact, the report does not even mention Operation Atlantis by name. Instead, it states that Euro Pacific Bank “was at the centre of a global Day of Action by the J5 in 2020, as part of an investigation into suspected tax evasion and money laundering.” But it never claims that those suspicions were ever substantiated. Instead, it notes that “the Puerto Rico Office o…

Japan Is About to Pop the Biggest Bubble in History... And It Takes Us With It https://t.co/0hIgLHDYZY

Japan Is About to Pop the Biggest Bubble in History... And It Takes Us With It New episode. https://t.co/BhFJUieKaE https://t.co/BhFJUieKaE

If you think you had a bad week, @elonmusk lost nearly $100 billion. I'm old enough to remember when $100 billion was a lot of money.

Just like everything related to Bitcoin, the title of this video is very misleading. https://t.co/R4wvjuxxBp

In his latest attempt to illegally impose tariffs on American consumers that were not authorized by Congress, Trump is applying tariffs meant to target goods produced using forced labor to imports that have nothing to do with unpaid or coerced labor.

Once again, traders are getting spooked by the rise in bond yields. But the breakdown in bonds is actually bullish for gold, as it reflects soaring federal budget deficits, out-of-control inflation, and a loss of confidence in the creditworthiness of the U.S. Buy the dip!

The yield on the 30-year Treasury is 5.18%, its highest since April 2006. At that time, the U.S. national debt was $8.35 trillion. Now it’s $39.6 trillion, almost five times as large. The U.S. can’t afford these rates, let alone the much higher rates we'll soon be forced to pay.

Investors celebrated the June CPI, as a 30% fall in the price of oil led to a larger-than-expected decline. But so far in July, the price of oil is already up 30%, back above $90 per barrel. If the price hits $100 by month-end, that will be a 43% rise. July CPI could be a doozy!

$SPCX closed just above $115, nearly 20% below its IPO price and almost 50% below its high. This could be a harbinger of things to come for other overhyped stocks and cryptos. Look out below!

Gold and silver are up big again today, even as Treasury yields continue to rise. Gold is above $4,150 and silver is back above $60. Precious metals and bond yields rising together signal that investors fear that despite Warsh’s tough talk, the Fed will fail to rein in inflation.

Trump just gave Saudi Arabia major nuclear concessions while his family already has extensive business interests there. This may be good policy, but Trump's personal financial interests are more than bad optics. They create serious conflicts of interest that shouldn't be allowed.

Oil prices and bond yields continue to rise, with oil above $85 and yields on 10- and 30-year Treasuries now at 4.63% & 5.14%, respectively. These trends will likely continue and are bearish for the economy and corporate earnings. How much longer can stock investors ignore this?

Everything is rallying today. Most likely, it's a Turnaround Tuesday head fake. The exception may be gold and silver, which are up about $70 and $2.50, respectively. While deteriorating fundamentals have been bearish for tech and Bitcoin, they've been bullish for precious metals.

Trump's new 50% tariffs on a long list of Canadian imports will hit American consumers hard. Not only will they increase our overall cost of living, but they will specifically increase the cost of home construction, making new homes even less affordable than they are now.

More air is coming out of the AI bubble as Moonshot AI’s Kimi K3 intensifies low-cost Chinese competition. $SPCX is now trading below $121, almost 11% below its IPO price and more than 46% below its high. AI isn’t a bubble, but AI stocks are. The bubble has likely already popped. SpaceX closed under $120, near the low of the day. That's more than 11% below the IPO price. The chart is not looking good.

The Fed Admitted It. The Treasury Blew It. The CPI Lied. https://t.co/3axzqiVPqu

The Fed Admitted It. The Treasury Blew It. The CPI Lied. New episode. https://t.co/Y6MnPyHVJ9

If you ask AI to objectively review all the publicly available information, including what's been published on https://t.co/BmV7zaxKAr about Euro Pacific Bank—including the evidence from the successful defamation lawsuit against Nick McKenzie and 60 Minutes Australia, the now-unredacted emails obtained through FOIA between the IRS, ATO, and OCIF, and the fact that no criminal charges were ever filed against anyone associated with the bank, including its customers—and offer an opinion as to why the bank was shut down, it will conclude that the bank was shut down purely to allow the J5 to turn its failed Atlantis investigation into a fake succe…

Gold stocks are under pressure today, despite gold itself rising $30 and retaking $4,000. Investors still don’t understand how bullish the fundamentals are for gold or how much they’ve improved due to war, bursting tech bubbles, and rising deficits, inflation, and bond yields.