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The Peter Schiff Show Podcast: Daily Summaries Delivered
by Peter Schiff
Peter Schiff is an economist, financial broker/dealer, author, frequent guest on national news, and host of the Peter Schiff Show Podcast. The podcast focuses on economic data analysis and unbiased coverage of financial news, both in the U.S. and global markets. As entertaining as he is informative, Peter packs decades of brilliant insight into every news item.
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- 2 days ago51 min
Jobs Missed. Wages Stalled. Tariffs Failed. Bonds Fell Anyway.
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.📢 Please Support Our Sponsors:- Odoo. Get your first application free for life at https://www.odoo.com/r/peter- DripDrop. Stock up now at https://dripdrop.com and use promo code GOLD for 20% offPeter 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 8% this month, risks to housing, autos, credit and Fannie and Freddie, $40 trillion in debt at 5% interest, Janet Yellen's past comments on low rates, and Rick Santelli's final day at CNBC. He closes by urging listeners to buy the dip in gold and silver, with support near $4,000 and $60.Chapters:00:00 Bond Crisis Warning01:02 September Jobs Shock03:02 Revisions and Labor Details06:22 Wages Lag Inflation08:16 Bonds Sell Off Anyway12:36 Income Spending PCE15:47 Trade Deficit Tariffs20:13 Stocks Ignore Rising Yields26:48 Trump Inflation Pays Debt28:06 Inflation Pays Debt Claim29:02 Who Owns Inflation Blame30:17 Bondholders Get Burned31:20 Weekly Market Scorecard31:49 Gold Silver Yield Paradox34:13 Stagflation And AI Distortion36:17 Bitcoin Strategy Stretch Update38:35 Bond Vigilantes Take Over40:21 Oil Reserves And Mortgage Shock45:08 Debt Math And Crisis Setup49:51 Midterms And Voter Reality51:56 Buy Metals And Wrap UpFollow @peterschiffX: https://twitter.com/peterschiffInstagram: https://instagram.com/peterschiffTikTok: https://tiktok.com/@peterschiffofficialFacebook: https://facebook.com/peterschiffFree Reports & Market Updates: https://www.europac.comBook Store: https://schiffradio.com/booksSign up for Peter's most valuable insights at https://schiffsovereign.comSchiff Gold News: https://www.schiffgold.com/news#PeterSchiffShow #JobsReport #BondMarketOur Sponsors:* Check out Fast Growing Trees and use my code GOLD for a great deal: https://www.fast-growing-trees.com* Check out Plaud AI and use my code GOLD for a great deal: https://www.plaud.aiPrivacy & Opt-Out: https://redcircle.com/privacy
- 5 days ago55 min
Every Crisis I Warned About Is Converging... This Is the End Game
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.📢 Please Support Our Sponsors:- Proton Pass. Go to https://proton.me/peter to get 50% off, backed by a 30-day money-back guarantee.- Noom. The Noom GLP-1 Program starts at $39 and is delivered to your door in as little as seven days. Go to https://noom.com to learn more.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 Warning01:02 Yields Surge and Mortgages02:59 Gold Dip and Safe Haven07:11 Weak Data Ignored13:21 Housing Market Cracks14:48 Password Security Ad16:00 High Debt High Rates Era19:17 Housing Bubble Math23:56 Refi Boom Ends28:24 Home Prices Next Drop31:30 Noom Weight Loss Pitch33:07 GSE Stocks Get Crushed35:50 Trump Hype And Dump39:39 PSA Or Campaign Ad42:41 Deficits Nobody Will Cut47:59 Affordability Promises Backfire50:08 Socialism Messaging Trap52:12 AI Hope Versus Debt Crisis56:02 Fed Out Of Tricks56:43 Prepare For The Storm57:28 Wrap Up And Plan BFollow @peterschiffX: https://twitter.com/peterschiffInstagram: https://instagram.com/peterschiffTikTok: https://tiktok.com/@peterschiffofficialFacebook: https://facebook.com/peterschiffFree Reports & Market Updates: https://www.europac.comBook Store: https://schiffradio.com/booksSign up for Peter's most valuable insights at https://schiffsovereign.comSchiff Gold News: https://www.schiffgold.com/news#PeterSchiffShow #BondMarket #MortgageRatesOur Sponsors:* Check out Chilipad and use my code GOLD for $255 off! Visit https://sleep.me. * Check out Fast Growing Trees and use my code GOLD for a great deal: https://www.fast-growing-trees.com* Check out Plaud AI and use my code GOLD for a great deal: https://www.plaud.ai* Check out TruDiagnostic and use my code GOLD20 for a great deal: https://www.trudiagnostic.comPrivacy & Opt-Out: https://redcircle.com/privacy
- 1 weeks ago1h 8m
This Happened Twice in 100 Years... Both Times, Stocks Fell 49%
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.📢 Please Support Our Sponsors:- My Patriot Supply. Get a 3-Month Emergency Food Kit + FREE Mega Protein Kit at https://PrepareWithPeter.com- Proton Pass. Go to https://proton.me/peter to get 50% off, backed by a 30-day money-back guarantee.- Perplexity Computer. Start your free trial today at https://pplx.ai/gold and experience the next phase of AI.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 Warning00:59 Bond Yields Surge04:40 Global Rates and Mortgages07:37 Oil Link Breaks11:01 Consumers and Hoarding14:58 Markets Misread Gold18:47 Hidden Bear Market Breadth21:06 History Rhymes Again23:21 Ackman and Inflation Target29:15 China Summit and Tariffs33:05 Bank Shutdown FOIA Fight38:20 FOIA Fight With IRS39:11 Settlement And New Disclosures42:03 Press Conference Double Standard43:46 Jim Lee Email Questions47:10 MOU Proof Of Coordination50:56 Unanswered Questions Expose Narrative55:02 Publicity Stunt Motive56:04 Portugal Freeze Fallout57:23 Receivership Numbers Breakdown01:04:40 Government Vs Free Market Rant01:06:41 Congress Won't Act01:07:41 Wrap Up And Investing PitchFollow @peterschiffX: https://twitter.com/peterschiffInstagram: https://instagram.com/peterschiffTikTok: https://tiktok.com/@peterschiffofficialFacebook: https://facebook.com/peterschiffFree Reports & Market Updates: https://www.europac.comBook Store: https://schiffradio.com/booksSign up for Peter's most valuable insights at https://schiffsovereign.comSchiff Gold News: https://www.schiffgold.com/news#PeterSchiffShow #StockMarket #BearMarketOur Sponsors:* Check out Chilipad and use my code GOLD for $255 off! Visit https://sleep.me. * Check out Fast Growing Trees and use my code GOLD for a great deal: https://www.fast-growing-trees.com* Check out Plaud AI and use my code GOLD for a great deal: https://www.plaud.ai* Check out TruDiagnostic and use my code GOLD20 for a great deal: https://www.trudiagnostic.comPrivacy & Opt-Out: https://redcircle.com/privacy
- 1 weeks ago56 min
22-Year High Yields. Record Diesel. McDonald's Gave Up on 2%.
Peter Schiff on 22-year high yields, record diesel, McDonald's inflation warning, and Trump's claim he told Warsh how to vote.📢 Please Support Our Sponsors:- AG1. For a limited time, save 20% on your first subscription order of AG1 Next Gen or AG1 Pro at https://drinkag1.com/schiff- Upwork. Visit https://upwork.com right now and post your job for free to connect with top talent ready to help your business grow.- Ethos. Protect your family with life insurance from Ethos. Get up to $3 million in coverage in as little as 10 minutes at https://ethos.com/gold. Application times may vary. Rates may vary.Peter Schiff reviews the rise in Treasury yields to multi-decade highs and what 5% rates would mean for interest on the $40 trillion national debt. He opens with a comment Donald Trump made after the Fed's 25 basis point hike: that he told Kevin Warsh he "might as well vote with the board." Peter argues that either Trump is lying or, if the conversation happened, the Fed chairman is clearing his votes with the president, and that Warsh should be asked directly at the next press conference.He then turns to the bond market. The five-year auction cleared at 5.03%, the highest in just over 20 years; the 30-year reached 5.41%, a 22-year high, and the 10-year hit 5.12%. He expects the 10/30 spread, now under 30 basis points, to widen back toward 50 or more, and suggests shorting the 30-year against the 10-year. If the government pays 5% on $40 trillion, interest would run $2 trillion a year, about 35% of tax revenue and more than Social Security, with the debt growing by more than $3 trillion a year. He says stock investors still assume yields are near a top.McDonald's stock fell about 5% after its CEO said inflation would stay elevated for "many more years," which Peter contrasts with Warsh's claim that expectations are anchored at 2%. He agrees with Warsh that growth does not cause inflation; loose monetary policy does.Diesel set another record above $6.50 a gallon, near $10 in California. Peter argues a diesel export ban would cut production, and that drawing down the Strategic Petroleum Reserve leaves nothing for a real emergency.On the midterms, he notes Democrats are now 65% favorites to take the Senate, with cost of living the top issue, and blames Trump rather than Biden for inflation, while the Gulf conflict looks to be worsening. He criticizes the White House for pulling credentials from CNN, Politico and MS Now, recounts Trump's reaction to his Fox & Friends appearance, and discusses California's lawsuit against Trump Media over selling early access to Trump's posts for $50,000 to $100,000 a month, which he calls insider information.Peter closes with his Schiff Sovereign Plan B conference in Panama, which drew 130 to 140 attendees, and the story of his grandparents arriving through Ellis Island in 1902 and 1903 with no paperwork. His argument: the problem is not immigrants but the welfare state, and listeners should get their financial house in order, including gold, silver and TGold.Chapters:00:00 Diesel Hits Record Highs00:52 Back From Panama Update03:19 Trump Fed Comment Fallout09:34 Treasury Yields Break 5%12:42 Debt Interest Disaster Math17:30 McDonalds Warns Inflation Years22:20 Diesel Export Ban And SPR Risks27:23 Midterms Senate Odds Shift30:40 War And Media Crackdown Concerns31:38 Press Ban Fallout33:18 Fake News Double Standard33:38 Fox Interview Backlash35:54 Truth Social Insider Edge37:12 Market Moving Posts Explained41:13 GOP Hypocrisy Warning43:06 Panama Plan B Conference45:27 Why Panama Appeals47:40 Gilded Age Tariff Myth48:45 Open Immigration Then55:21 Welfare State Border Reality59:23 Plan B Portfolio Prep59:51 Signing Off AnniversaryFollow @peterschiffX: https://twitter.com/peterschiffInstagram: https://instagram.com/peterschiffTikTok: https://tiktok.com/@peterschiffofficialFacebook: https://facebook.com/peterschiffFree Reports & Market Updates: https://www.europac.comBook Store: https://schiffradio.com/booksSign up for Peter's most valuable insights at https://schiffsovereign.comSchiff Gold News: https://www.schiffgold.com/news#PeterSchiffShow #nationaldebt #inflation #federalreserveOur Sponsors:* Check out Chilipad and use my code GOLD for $255 off! Visit https://sleep.me. * Check out Fast Growing Trees and use my code GOLD for a great
- 2 weeks ago59 min
The Fed Hiked Rates 0.25%. It Won't Stop What's Coming.
The Fed hiked a quarter point. Peter explains why it will not stop the bond market, the dollar, or what is already coming for housing.📢 Please Support Our Sponsors:- NetSuite. If your revenues are at least seven figures, get the free business guide, Aligning for the Agentic Era: How AI Is Changing Everyday Work, at https://netsuite.com/GOLD- Proton Pass. Go to https://proton.me/peter to get 50% off, backed by a 30-day money-back guarantee.The Fed finally hiked. Peter says the quarter point changes nothing about what is already in motion.The Federal Reserve raised the fed funds rate 25 basis points to 3.75 to 4 percent, a 90 percent probability going in and a unanimous vote coming out. Peter's read is that none of that signals resolve. The Fed did not hike because it wanted to. Months of tough talk had stopped working, the bond market had called the bluff, and the committee was left with a put-up-or-shut-up moment it could not dodge. So it did the smallest thing available, and Kevin Warsh gave the shortest press conference of his tenure on the way out.A quarter point does not touch inflation heading for a four handle, not with oil above 100 dollars and diesel at record highs. The reason the Fed will not do more is not caution, it is capacity. A hike large enough to break inflation would break the economy and the Treasury's ability to fund itself.The market understood immediately. The Dow closed down roughly 600 points after being green before the announcement, and the 10-year Treasury pushed back above 5 percent, which Peter calls a stepping stone to 6. He also covers Trump's demand for sub-1 percent rates, Scott Bessent's testimony, why 8 percent mortgages are coming, and why he expects gold to recover from this selloff quickly.Chapters:00:00 Fed Hikes Under Pressure00:33 Markets Priced In the Move03:46 Fed Cornered by Inflation Talk06:38 Symbolic Hike and Market Fallout10:11 Fiscal Policy and Real Inflation21:31 Bond Yields Surge and Trump Reacts32:28 Import Cold Turkey Fallout33:40 Tariffs And China Surplus35:08 Empty Shelves Economic Crash36:18 Five Thousand Dollar Dividend44:30 Bonds For Bombs And Meme Coins53:32 Crypto Politics Gold Outlook FarewellFollow @peterschiffX: https://twitter.com/peterschiffInstagram: https://instagram.com/peterschiffTikTok: https://tiktok.com/@peterschiffofficialFacebook: https://facebook.com/peterschiffFree Reports & Market Updates: https://www.europac.comBook Store: https://schiffradio.com/booksSign up for Peter's most valuable insights at https://schiffsovereign.comSchiff Gold News: https://www.schiffgold.com/news#PeterSchiffShow #FedRateHike #Inflation #Gold #BondMarketOur Sponsors:* Check out Chilipad and use my code GOLD for $255 off! Visit https://sleep.me. * Check out Fast Growing Trees and use my code GOLD for a great deal: https://www.fast-growing-trees.com* Check out TruDiagnostic and use my code GOLD20 for a great deal: https://www.trudiagnostic.comPrivacy & Opt-Out: https://redcircle.com/privacy
- 3 weeks ago1h 1m
I'm Banned From Fox News for This Forecast... It Just Came True
Fox dropped Peter for saying inflation would accelerate. August CPI proved it. Now an 88% rate hike, 19-year-high yields, and $100 oil.📢 Please Support Our Sponsors:- My Patriot Supply. Check out the Be Ready Bundle at https://preparewithpeter.com and receive over $1,000 in food and preparedness gear FREE.- Upwork. Visit https://upwork.com right now and post your job for free to connect with top talent ready to help your business grow.- Odoo. Sign up for free at https://www.odoo.com/r/peterPeter got dropped from Fox News for saying inflation would accelerate. August CPI just proved him right.Last December Peter went on Fox News and said prices were still rising and the rate of increase would accelerate. Trump called him a Trump hater; Fox stopped booking him. Today's CPI: up 0.4% for August, 3.4% year over year, core hotter than expected, PPI running 5.4%, oil back over $100. Consumer inflation expectations jumped to 4.6%. Everything he said would happen has happened, while the president told a Republican convention this week that prices are "rapidly going down."Markets now put 88% odds on a rate hike next week, and Peter says the Fed has backed itself into a corner: Warsh has talked tough for so long that not hiking ends the Fed's credibility. But a symbolic 25 basis points "ain't gonna cut it" when inflation is rising faster than rates. The bond market already knows. The 10-year hit 4.97%, a 19-year high, the 30-year 5.35%, and Peter argues we're only six years into a bear market where 5% is nowhere near the top, with $40 trillion of debt to refinance. He also takes apart Trump's $5,000 "dividend" (a bribe paid from $4 trillion of new debt), calls gold dips a gift, and says Bitcoin's chart projects to zero.Chapters:00:00 Fox News Inflation Call00:34 9/11 Reflections and Liberty05:27 CPI Report and Fed Odds14:16 Symbolic Hike Won’t Work36:49 Metals and Bitcoin Check37:51 Bitcoin Head and Shoulders39:24 Why a Midterm Convention44:55 The 5000 Dividend Claim57:17 Inflation Jobs and Wrap UpFollow @peterschiffX: https://twitter.com/peterschiffInstagram: https://instagram.com/peterschiffTikTok: https://tiktok.com/@peterschiffofficialFacebook: https://facebook.com/peterschiffFree Reports & Market Updates: https://www.europac.comBook Store: https://schiffradio.com/booksSign up for Peter's most valuable insights at https://schiffsovereign.comSchiff Gold News: https://www.schiffgold.com/newsOur Sponsors:* Check out Chilipad and use my code GOLD for $255 off! Visit https://sleep.me. * Check out Fast Growing Trees and use my code GOLD for a great deal: https://www.fast-growing-trees.com* Check out TruDiagnostic and use my code GOLD20 for a great deal: https://www.trudiagnostic.comPrivacy & Opt-Out: https://redcircle.com/privacy
- 3 weeks ago58 min
The Bond Market Is About to Break... And Stocks Go With It
Oil near $100, copper at a record, and the Fed still says 2%. Why the bond market breaks before the stock market does.📢 Please Support Our Sponsors:- Proton Pass. Go to https://proton.me/peter to get 50% off, backed by a 30-day money-back guarantee.- Function Health. Join at https://functionhealth.com/peter and use code PETER25 for a $25 credit.- Pebl. Go to https://hipebl.ai to get a free estimate.Oil near $100, copper at a record, and 65 straight months above 2%. Peter says the bond market breaks first.Brent touched $99.50 and copper hit an all-time high, and Peter's point is that the Fed's 2% target was already unreachable when oil was falling. Sixty-five months above target, and now the inputs are rising again. PPI Thursday and CPI Friday could both come in hot, and if they do, the damage shows up in bonds before it shows up in stocks. The market is pricing roughly 60% odds of a hike next week. Peter doesn't think the Fed will do it, and thinks 25 basis points wouldn't matter if it did, since the market would immediately start pricing the next one.The rest is the bill coming due elsewhere. China just posted a record trade surplus, with August exports up 25% year over year and exports to the US up 34%, which is what happens when tariffs price Americans out of the best deal rather than moving production home. Peter got the receipt himself: the courier billed him for the tariff, then billed him again to process it. Meanwhile the hyperscalers that used to park cash in Treasuries are borrowing from the same pool the government needs, at a moment when interest costs already run $1.2 trillion a year.Chapters:00:00 Intro00:39 War Shock Fuels Commodities02:15 Copper vs Gold Real Money06:11 Iran War Drags On21:31 Tariffs and Trade War Fallout30:18 Producers vs Consumers31:50 Tariffs Shift Trade35:52 Why Trade Wars Fail43:37 Nickels Beat Treasuries50:59 Fed, Inflation, and Wrap-UpFollow @peterschiffX: https://twitter.com/peterschiffInstagram: https://instagram.com/peterschiffTikTok: https://tiktok.com/@peterschiffofficialFacebook: https://facebook.com/peterschiffFree Reports & Market Updates: https://www.europac.comBook Store: https://schiffradio.com/booksSign up for Peter's most valuable insights at https://schiffsovereign.comSchiff Gold News: https://www.schiffgold.com/news#PeterSchiffShow #BondMarket #InflationOur Sponsors:* Check out Chilipad and use my code GOLD for $255 off! Visit https://sleep.me. * Check out Fast Growing Trees and use my code GOLD for a great deal: https://www.fast-growing-trees.com* Check out TruDiagnostic and use my code GOLD20 for a great deal: https://www.trudiagnostic.comPrivacy & Opt-Out: https://redcircle.com/privacy
- 4 weeks ago59 min
Bond Yields Just Hit a 2007 High... Every Buyer Became a Seller
Peter Schiff on the fake jobs beat, Trump's trade ultimatum, yields at 2007 highs, a 162% tariff bill, and why the Fed is the last buyer.📢 Please Support Our Sponsors:- Proton Pass. Go to https://proton.me/peter to get 50% off, backed by a 30-day money-back guarantee.- DripDrop. Stock up now at https://dripdrop.com and use promo code GOLD for 20% off- Ground News. Go to https://groundnews.com/schiff to get 40% off the unlimited access Vantage plan and unlock world-wide perspectives on the stories shaping our world.The government says 162,000 jobs is a boom. Peter Schiff says it's a miss, and the bond market agrees.The August jobs report came in at 162,000 against a 55,000 consensus, and Peter Schiff walks through why the number is worse than it looks. The birth-death model supplied 74,000 of those jobs, 45% of the total, on the assumption that new businesses were hiring. More than a third of the rest were waiters and bartenders. JOLTS and ADP both pointed the other way, last month was revised down, and real wages are falling. Kevin Hassett called it a boom; by most measures the economy is weaker than the day Trump took over.Then Trump raised the stakes. He declared that America deserves the lowest interest rates in the world, then threatened to terminate all trade with any surplus country if the Fed doesn't cut. Peter's answer: the United States has never been a worse credit risk than it is right now. The 10-year hit 4.81% and the 30-year 5.28%, the highest since 2007. Japan has sold its Treasury holdings down from $1.3 trillion to $1.1 trillion, everyone who was buying is now selling, and the Fed will end up the buyer of last resort, which means inflation.Peter also covers the week's real data: the July trade deficit at $88.6 billion, the biggest since March 2025; the $283 part that cost him 162% of the tariff once FedEx added its fee; diesel at a record above $5.80; Lutnick on semiconductors and Bastiat's candlemakers; Waller's rate comments sending gold back above $4,400; and an update on TGold's coming gold debit and credit cards.Chapters:00:00 No Buyers Left00:29 Back In Puerto Rico00:47 Jobs Report Miss05:36 Real Wages Falling06:09 Waiters And Bartenders08:00 JOLTS ADP Contradiction09:10 Birth Death Model10:23 Hassett Boom Claim13:27 Trump Rate Demands15:20 Worst Credit Risk Ever17:24 Trump Trade Ultimatum24:07 Bessent Kudlow Interview27:27 Yields Hit 2007 Highs28:24 Yen And Japan Selling31:14 Oil Diesel Record33:15 Stocks Gold Silver39:16 Trade Deficit Widens42:02 My 162% Tariff Bill45:37 Lutnick Semiconductors48:33 Bastiat Candlemakers51:08 Waller Rate Comments53:39 Gold Pullback Gift54:03 TGold Cards Update1:00:24 Bitcoin And EuroPac1:02:12 Labor Day Sign OffFollow @peterschiffX: https://twitter.com/peterschiffInstagram: https://instagram.com/peterschiffTikTok: https://tiktok.com/@peterschiffofficialFacebook: https://facebook.com/peterschiffFree Reports & Market Updates: https://www.europac.comBook Store: https://schiffradio.com/booksSign up for Peter's most valuable insights at https://schiffsovereign.comSchiff Gold News: https://www.schiffgold.com/newsOur Sponsors:* Check out Chilipad and use my code GOLD for $255 off! Visit https://sleep.me. * Check out Fast Growing Trees and use my code GOLD for a great deal: https://www.fast-growing-trees.com* Check out Plaud AI and use my code GOLD for a great deal: https://www.plaud.ai* Check out TruDiagnostic and use my code GOLD20 for a great deal: https://www.trudiagnostic.comPrivacy & Opt-Out: https://redcircle.com/privacy
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About The Peter Schiff Show Podcast
Peter Schiff is an economist, financial broker/dealer, author, frequent guest on national news, and host of the Peter Schiff Show Podcast. The podcast focuses on economic data analysis and unbiased coverage of financial news, both in the U.S. and global markets. As entertaining as he is informative, Peter packs decades of brilliant insight into every news item.
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The Peter Schiff Show Podcast publishes 2x weekly. Our AI generates a summary within hours of each new episode.
What topics does The Peter Schiff Show Podcast cover?
The Peter Schiff Show Podcast covers topics including News, Business, Investing. Our AI identifies the specific themes in each episode and highlights what matters most to you.
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Free forever for up to 3 podcasts. No credit card required.
Free forever for up to 3 podcasts. No credit card required.