Peter Schiff

Another day, another high in bond yields. The 10-year Treasury now yields 5.2% and the 30-year yields 5.48%. Enjoy these low rates while you can as they won't last long. Soaring government spending, debt, inflation and de-dollarization will drive rates much higher. Got gold?

On the morning that IRS-CI Chief Jim Lee spoke at the OCIF press conference to announce the closure of my bank, so that the IRS and the J5 could use the action to frame my bank for tax evasion and money laundering, thereby fraudulently embellishing their reputation for crime fighting, Lee sent an email to Justin Cole, Director of Communications for IRS-CI, that asked seven questions. Cole then forwarded the email to Special Agent Gary Shapley, who supplied answers to five questions, leaving the other two unanswered. One question asked, “What is happening to the owners of the bank?” and the other asked, “Give me 2 brief examples (typologies) …

22-Year High Yields. Record Diesel. McDonald's Gave Up on 2%. https://t.co/995gzyFsks

I just learned from another IRS email produced as a result of my winning FOIA lawsuit against the IRS that the IRS and OCIF executed a MOU regarding their joint action against my bank. This revelation provides more evidence that both former IRS-CI Chief Jim Lee and former OCIF Commissioner Natalia I. Zequeira Díaz lied when they told the public that OCIF's action against my bank was made completely independent of the IRS.

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The 30-year fixed-rate mortgage is now 7.1%. But in 2023, the rate peaked at about 7.8%, despite 10-year Treasury yields being lower than they are now. This is mainly due to Trump ordering the GSEs to buy mortgages, artificially lowering rates, but exposing the GSEs to losses.

Diesel Just Hit a Record $6.50... And the Reserve Is Running Out https://t.co/eIahs0Gr4B

Today the McDonald’s CEO said he thinks “inflation’s going to be with us for, unfortunately, many more years at an elevated level.” In contrast, Warsh claims that inflation expectations remain well anchored at 2% and that the Fed will deliver 2% inflation. Who do you believe?

The 5-year Treasury yield is over 5%. The 2-year will soon follow. Next year the entire yield curve will have a 5% handle or higher. At 5% the annual interest cost of our $40 trillion national debt will be $2 trillion, 35% of tax revenue and a larger expense than Social Security.

The 30-year Treasury yield is 5.41%, a new twenty-two-year high. But given that the 10-year yield is 5.12%, the 30-year yield needs to adjust higher, as 29 basis points is not nearly enough extra yield to compensate for an extra twenty years of high inflation and default risk.

The ten-year yield is over 5.1% now. At some point stock market investors will have to take notice of this development, not just the current level, but the powerful trend that will likely send the yield significantly higher from here. This is bad news for stocks and the economy.

Ten-year Treasury yields are at a new 19-year high today, above 5.08%. The rise has been very orderly, yet relentless, and there is no indication it's going to stop anytime soon, given the high risk of rising inflation eroding the value of both interest and principal payments.

Gold & silver are forming a very strong base from which the next leg of this historic bull market will be built. Don't wait for the explosive move up. The smart money is buying now in anticipation of that move. Download our app to make buying even easier. https://t.co/CY02g7NyCR

During its last Bitcoin selling spree, Strategy sold 6,948 Bitcoin for approximately $431.8 million in net proceeds, or about $62,150 per Bitcoin. Now he's buying back some of what he sold for over $80K per Bitcoin. It won't be long before he's selling at lower prices again.

Bitcoin rallied big yesterday. The catalyst seemed to be Strategy's latest Bitcoin buy and self-serving bullish comments from @Saylor that the failure to pass the Clarity Act is actually bullish for Bitcoin. I'm sure he'd have said the same thing had the Act been passed into law.

Back in the late 1800s and early 1900s when millions of immigrants flooded our shores, no paperwork was required to immigrate. No passports, visas, or work permits. Anyone who could afford a ticket could board a ship, arrive in America, answer a few basic questions, and be on their way. They could stay as long as they wanted, work wherever they wanted, buy property, start businesses, and basically do anything any American citizen could do. In fact, in most states, they could legally vote in local, state, and even national elections, subject to the same poll tax, literacy test, or other qualifications required of American citizens. If they w…

For those of you who thought I was hiding during today’s big Bitcoin rally, I was observing the Jewish holiday of Yom Kippur. Now I’m off to break the fast, but I’ll have plenty to post about the rally tomorrow, assuming it holds up.

After failing to get a deal to purchase or annex Greenland, Trump finally gave up and declared victory on social media. He settled for some enhancements to the existing structure, but the public shakedown did more harm to America's reputation than the benefits of the concessions.

Despite Republicans controlling both houses of Congress, neither body will investigate the IRS despite my having already found overwhelming evidence of abuse of power and obstruction of justice. Republicans want IRS abuse to continue so they can exploit it as a campaign issue.

After nearly four years and three months, another one of the thousands of customers of my bank finally got his money back. Of course, had OCIF not done a favor for the IRS by illegally putting my completely solvent bank into receivership purely as a publicity stunt for the J5, so they could turn their failed Atlantis investigation into a fake success, he could have withdrawn all of his money over four years ago. Even if there had been a legitimate regulatory reason to shut down my bank, there was no need to appoint a Receiver to return deposits. I offered to liquidate the bank myself and personally guarantee the return of all deposits. But t…

Just wrapped up the Schiff Sovereign Plan-B Conference in Panama. What an amazing country, with so much to offer. It was great to have the mayor of Panama City and future president as our special guest. @Mayer @thesovereignman https://t.co/v40Mfzq4ud

Yesterday’s big Bitcoin rally following the SEC’s tokenized stock announcement makes no sense. The news is actually bearish for Bitcoin, which must now compete with tokenized securities. Digital ownership of tokens backed by profitable, dividend-paying companies is a superior, more reliable store of value than a token backed by nothing. Tokenized stocks offer all of the conveniences of Bitcoin, but without the risk of a decentralized Ponzi scheme collapsing.

The OCIF-appointed Receiver has denied Euro Pacific Bank customers access to their silver for over four years. All he has to do is send one email to the custodian and every customer will have immediate access. He doesn't have to lift a finger—the custodian will do all the work. Ask the Receiver. I have, but can't get an answer. Clearly he doesn't give a shit about the customers. Neither does OCIF.

Trump banned CNN, MSNOW, and Politico from the White House, and is promising more fake news outlets to follow. But Trump likes fake news when it works to his advantage. When I spoke the truth about inflation, Trump threatened the Fox News booker to ensure I was not invited back.

The Fed Hiked Rates 0.25%. It Won't Stop What's Coming. https://t.co/MQ4fhkxWcb

At the next press conference, someone needs to ask Warsh if the conversation Trump described actually took place. Did Warsh discuss how the board wanted to raise rates but he did not, and did he only vote with the board after first getting permission from the president to do so?

In what's either a shocking admission or just another lie, Trump claims that Warsh would've been the lone vote against a rate hike, but that he personally told Warsh that he might as well vote with the board because it wouldn’t make a difference. Just another reason to buy gold.

Gold's morning rise of over $100 is a clear no-confidence vote in the Fed's 25 basis point rate hike. Investors would rather own gold with no yield than 10-year Treasuries with a 5% yield, as that is not nearly enough to offset the purchasing power that will be lost to inflation.

The Fed Hiked Rates 0.25%. It Won't Stop What's Coming. New Episode. https://t.co/zghlZhNG9o

Warsh was not being honest when he said the Fed made the rate hike decision on its own. I think the Fed was backed into a corner, and with a 90% probability of a hike, it had to deliver or lose credibility. It was put up or shut up. Unfortunately, the Fed didn't put up enough.