The Peter Schiff Show Podcast

Hank Paulson warns of a "vicious" debt crisis — but his only plan is to brace for it, not prevent it. That tells you everything.

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Former Treasury Secretary Hank Paulson is warning about a "vicious" sovereign debt crisis and urging a break-the-glass emergency plan — but Peter Schiff points out that Paulson himself architected the bailouts and QE policies that made this crisis inevitable, and his only advice now is to prepare for the crash rather than prevent it.

Markets hit record highs this week with the Nasdaq up 7% on ceasefire optimism and oil dropping to $83, but Schiff warns the rally is built on the false premise that peace means rate cuts. The Fed's balance sheet has quietly grown over $200 billion in 2026 while M2 money supply expands at 5% year-over-year. Meanwhile, NYC Mayor Manda proposes city-owned grocery stores and taxes on non-resident condos — policies Schiff dismantles as the kind of anti-capitalist thinking that drives wealth creators to places like Panama, which is rolling out the welcome mat for every entrepreneur New York chases away.

Chapters:
00:00 Show Cold Open
00:57 Live From Puerto Rico
01:59 War Headlines Fuel Rally
04:12 Bitcoin Gold Silver Check
07:07 Fed Policy And Real Rates
08:54 Producer Prices Reality Check
11:09 Paulson Warns Debt Crisis
19:09 Panama Versus New York Taxes
22:21 How Wealth Gets Created
25:42 Fair Share And Job Creation
30:03 Wealth Creation Backlash
31:52 City Owned Grocery Plan
34:11 Profit Motive And Prices
39:18 Subsidies And Market Damage
43:25 Farm Subsidies And USSR
45:36 Taxing Nonresident Condos
51:06 Why Profit Builds Cities
51:59 Property Tax Critique
59:44 Closing Markets And Gold

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CPI triples to 0.9%, consumer sentiment hits an all-time low, and the Fed is quietly running QE — stagflation isn't coming, it's here.

Gold ended the week at $4,745 with silver at $75.76 and mining stocks up 5%, all buoyed by the Taco Tuesday ceasefire that sent markets surging mid-week. Peter Schiff argues the ceasefire is a win for Iran and that Trump was looking for a way out of threats he could never carry out — but the real story is the inflation data.

March CPI came in at 0.9% month-over-month, tripling February's reading and pushing year-over-year inflation to 3.3%. The Fed's balance sheet has quietly expanded by nearly $200 billion in 2026 — quantitative easing in everything but name. Q4 GDP was revised down to 0.5%, making 2025's full-year growth just 2.1% — lower than any year under Biden. Consumer sentiment plunged to 47.6, the lowest reading in the history of the survey. Schiff connects the dots: M2 money supply growing at 5%, a proposed 50% defense budget increase, and a Fed that will be forced to cut rates regardless of inflation all point to a stagflation environment where gold and silver are headed substantially higher.

Chapters:
00:00 Ceasefire and Market Mood
15:20 Inflation Data and Fed QE
23:14 Inflation Not The War
38:46 Stagflation Bull Case

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Trump threatened to destroy Iran's civilization by 8pm — instead he got a ceasefire that concedes nothing. The threats were always empty.

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Trump's Tuesday deadline to destroy Iran's civilization came and went with a Pakistan-brokered ceasefire instead of the promised hellfire. Peter Schiff breaks down how the president's escalating threats — from bombing bridges and power plants to wiping out an entire civilization — collapsed into a two-week truce that concedes nothing from Iran's side.

Markets swung wildly on the drama: the Dow dropped 400 points intraday before rallying nearly 1,000 points on ceasefire news, oil cratered 15.5% back to $95 after touching $115, and gold surged $60 despite the supposed "peace" — proving the market is trading the Fed, not the war. Schiff argues rate cuts are coming regardless of inflation, that oil will never return to $60, and that the dollar's reserve currency status is being actively dismantled as countries like France pull gold from U.S. custody. He also reveals the IRS is refusing to comply with a federal judge's FOIA ruling ordering release of documents from the Euro Pacific Bank investigation.

Chapters:
00:00 Show Intro
00:55 Trump Deadline Drama
05:33 Markets Call the Bluff
08:32 Pakistan Ceasefire Rumors
12:22 Trump Two Week Pause
16:20 Iran Ceasefire Terms
19:15 Iran Statement Readout
22:19 Civilian Targeting Critique
29:01 Dollar Power and Blowback
32:05 Scaling Gold Production
32:52 Gold Moves on Rate Cuts
35:14 Oil Prices vs Real Inflation
37:32 War Risk Premium Sticks
40:53 Weak Data and CPI Ahead
44:57 Polls Signal Economic Pain
50:49 Ditch Dollars Buy Metals
52:44 Mining Stocks Next Leg
55:33 FOIA Win IRS Fights Back
01:03:29 Transparency Battle Wrap Up

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Oil hits $112 as Trump vows to bomb Iran into the Stone Age — and the jobs data everyone's celebrating is hiding a collapsing labor market.

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Peter Schiff records from the British Virgin Islands, breaking down the latest economic data against the backdrop of the escalating Iran war. The March jobs report showed 178,000 jobs added — well above the 51,000 estimate — but Schiff argues the number is misleading, noting that 43% of new jobs were in healthcare, a sign of a sicker nation rather than a stronger economy. He highlights the weakest wage growth in five years at 3.5% year-over-year and the lowest labor force participation in five years at 61.9%.

Oil prices surged to $112 per barrel amid Trump's pledge to "bomb Iran back to the Stone Age" over the next two to three weeks, with the service sector PMI falling into contraction at 49.8. Schiff warns that stagflation is now undeniable and that oil-driven inflation will force massive government spending and money printing, ultimately crushing the dollar and sending gold well above $5,000. He criticizes Trump's economic lies, the Supreme Court's ruling striking down Liberation Day tariffs as unconstitutional, Warren Buffett's Fed praise, and growing redemption freezes across investment funds as signs of a brewing financial crisis.

Chapters:
00:00 Cold Open and Intro
00:54 Vacation Setup and Holiday Markets
01:52 March Jobs Report Breakdown
06:44 Stagflation Signals in PMI and JOLTS
08:53 Oil Spike and Fed Policy Link
17:02 Weekly Market Wrap Gold Silver Miners
21:33 Trump Speech War Escalation Fears
30:18 Aftermath Leaving Strait to Allies
32:27 NATO Exit Debate
33:39 Dollar Risks and Metals
34:11 Springsteen Boycott Rant
36:27 Liberation Day Reality Check
37:47 Tariffs Ruled Unconstitutional
40:52 Funds Freeze Redemptions
43:39 Buffett on Inflation Targets
47:05 Fed Enabled Covid Policy
51:31 Trump Polls and Midterms
57:55 Prepare and Buy Gold
01:00:30 Podcast Wrap and Travel

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Peter Schiff reviews a volatile week in markets, arguing gold and silver likely put in a bottom after briefly breaking prior lows and closing higher. He contrasts that with major stock indexes sliding deeper into correction territory, which he says could turn into a bear market if the war drags on. Schiff focuses on oil as the key driver, tying price spikes to bond selloffs, rising Treasury yields, and renewed inflation pressure.

He criticizes shifting public messaging around the conflict and argues the economic and political costs will force an eventual endgame driven more by markets than diplomacy. Schiff also challenges the “Bitcoin as digital gold” narrative, pointing to Bitcoin’s weakness versus gold and warning of a sharper breakdown if key levels fail.

He closes by framing larger deficits, money printing, and policy responses as structurally bullish for precious metals, while warning that higher yields and inflation could stress housing, stocks, and the dollar.

Chapters:
00:00 Gold and Silver Bottom
01:12 War Headlines Whipsaw
05:13 Fed Rates vs Inflation
05:59 Stocks Slide Into Correction
10:22 War Costs and Deficits
12:15 Bitcoin Safe Haven Myth
13:47 Oil Yields and Bonds
16:38 Bitcoin Mortgages Risk
20:05 Dollar Weakness and Politics
30:33 Buy Gold and Wrap Up

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