Peter Schiff

New Episode. AI Cash Cows Just Became Cash Vacuums... This Breaks the Bond Market https://t.co/oyNMsEykys https://t.co/oyNMsEykys

When asked what the Fed would do to specifically help Black workers, I wish Warsh would have replied candidly that Fed policy can't target individuals based on their race. Also, he should have pointed out that the biggest problems black workers face are laws passed by Congress.

Warsh said he prefers using interest rates over the Fed’s balance sheet for monetary policy, as the former doesn't favor one class of people over another. Of course they do. Artificially low interest rates favor wealthy, leveraged borrowers at the expense of middle-class savers.

The biggest problem with Warsh hearing is discussing inflation without a clear understanding of what the word means. If you incorrectly define inflation as rising prices instead of an expansion of the supply of money and credit, any discussion that follows becomes meaningless.

The most frustrating part of Warsh’s testimony was his failure to hold Congress accountable for its contribution to the inflation problem. By allowing members to complain about inflation without pointing out their role in creating it, Warsh did a disservice to the nation.

Warsh said his definition of price stability is price increases small enough that the public doesn't complain. But acceptance of high inflation is no excuse to create it. Price stability means prices that remain stable. It’s wrong to redefine stable prices to mean rising prices.

Proving it’s business as usual at the Fed, Warsh repeated the false claim that the Fed should refrain from speaking about fiscal policy. Deficit spending is a major driver of the high inflation Warsh claims the Fed is trying to fight. It’s part of the Fed’s job to criticize it.

The only way regime change at the Fed will reduce inflation is if we also get regime change in Congress and the White House. Monetary and fiscal policy have worked hand in glove to create the inflation that plagues the economy. Ending it requires huge cuts to government spending.

Today, Warsh admitted in hindsight to a key Fed mistake that I pointed out in real time as it was being made. He said the Fed’s attempt to raise the inflation rate was a mistake; that its effort to get a little more inflation is why we ended up getting a lot more inflation.

Fed Chair Warsh pointed out that the Fed has 23,000 employees. What a waste of money and human labor. The mere fact that the Fed has so many employees is evidence enough to abolish the entire institution. When the Fed began operations on Nov. 2, 1914, it had just 40 employees.

Gold is up $100 as the June CPI fell 0.4%, more than expected. But the main driver was a 30% drop in oil. Ignoring the fact that oil is already up 20% in July and headed higher, a lower official inflation rate merely gives the Fed an excuse to ignore the rise in actual inflation.

@FreedomMatt1 Not a chance. $20K is way to much to pay for nothing.

Many people, myself included, regret not buying Bitcoin when they first learned about it. Soon, more people will regret not selling Bitcoin above $60K when they had the chance.

@BitcoinSapiens Send him my way. If it's legit I'll buy it. But the way you describe it, pieces of silver could be anything. It's the weight of silver that counts.

Opinion - $6 million a day: Trump’s disclosures show he is the swamp’s biggest monster https://t.co/h295O28JSq

$SPCX broke below $137, less than $2 above its IPO price and nearly 40% below its post-IPO high. Does this mean the bloom is coming off the AI rose? If so, higher inflation, rising interest rates, and war will put substantial downward pressure on an overpriced U.S. stock market.

Gold is back below $4,000 as bond yields rise, the Iran war escalates, and Warsh prepares for his first-ever congressional testimony tomorrow. Precious metals traders are likely positioning for more B.S. hawkish comments about the Fed’s resolve to bring inflation down. Buy gold.

All of the price forecasts for Bitcoin assume demand rises. But why should it? Most people who own Bitcoin are losing money. When investors in Bitcoin get tired of losing money demand for Bitcoin should decline. If Bitcoin is going down, why would people who don't own it buy any?

The yield on the 10-year Treasury is 4.6%. When it hits 5%, it will be the highest yield since July 2007. However, back then the U.S. national debt was barely $9 trillion. Now it’s nearing $40 trillion, more than 4X as high. Rising interest rates are a much bigger problem now.

Once again, gold is selling off as the war with Iran escalates. Traders are being conditioned to believe that war is now bearish for gold. Shorts will be in for a world of hurt when they are blindsided by the reality that the opposite is true. Conditions are set for a huge rally.

The Bond Market Breakdown Has Started... Stocks, Housing, Crypto Are Next https://t.co/rDu4qQi5zR

@MinkBoi2 When did I ever support that?

New Episode. The Bond Market Breakdown Has Started... Stocks, Housing, Crypto Are Next https://t.co/u5qunNjHsv

The N.Y. Times claims Trump’s grand jury subpoenas infringe on its freedom of the press. But The Times unethically published illegally leaked grand jury evidence, helped the J5 frame me for facilitating tax evasion and money laundering, then covered up evidence of my innocence.

Traduje este video al español para que todos los puertorriqueños conozcan la corrupción de la OCIF. Demuestra que Euro Pacific Bank fue cerrado ilegalmente como una maniobra publicitaria del J5. El banco, sus clientes y empleados fueron víctimas inocentes. https://t.co/VWdC2Mgab3

According to @LawrenceLepard, it's a fact that Bitcoin has gone up for 17 years. But the fact is, Bitcoin is lower today than it was in April 2021. That's over five years ago. Versus gold, Bitcoin is down 58% since its peak in Nov. 2021. It's Lepard who doesn't know the facts.

According to @LawrenceLepard, MSTR would be fine if Bitcoin went to $30K. Really? At that price, MSTR would have an unrealized loss of nearly $40B, assuming it doesn’t buy more Bitcoin on the way down. Imagine how much lower $MSTR and $STRC would be if Bitcoin falls another 50%.

@TrendingBitcoin He only said that because he was seeking donations and votes from Bitcoiners.

Bitcoin was never really correlated to gold, despite the false claims that it’s digital gold. However, there was a strong correlation to the NASDAQ that has since broken down. Bitcoin no longer rises when the NASDAQ rises. But, I think it will still fall when the NASDAQ falls.

We Need Another Emancipation. This Time From Our Own Government https://t.co/DJnOdyTY6d