The Peter Schiff Show Podcast

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Printing money was the cure. Now it's the disease, and the next crisis arrives with no medicine left.

Peter Schiff explains why the Fed won't hike this week despite inflation that keeps rising: the decision is political, not economic, and rates are still far too low. Brazil just showed what happens when voters choose socialism, with Brazilian stocks down 23% in dollars in one day, roughly a Black Monday, and Peter argues Americans are about to make the same choice in the midterms. He takes apart the record $55.4 billion in farm welfare, the rent-seeking behind it, and why the consumer pays twice: once at the grocery store and again in the subsidy.

Peter also explains why the Republican "tax cuts" are no cut at all when the deficit is financed by inflation and 7.5% mortgages, why California's "one-time" billionaire wealth tax is the camel's nose under the tent, and why the air coming out of the AI bubble matters more than Wall Street admits: when it pops, governments and companies are fighting over the same scarce credit, and there is no bailout money left. Gold at $4,000 is the floor, not the ceiling, and the gold sell-off is happening for the wrong reason.

Chapters:
00:00 Debt Crisis Warning
00:38 Podcast Setup and Fed Week
01:45 Why the Fed Won’t Hike
02:35 Politics Behind Rates
04:40 Fed Still Inflating
05:18 Brazil Election Shock
08:16 Bolsonaro vs Lula Framing
11:02 Democracy and Socialism
13:25 Farm Subsidy Blowup
18:46 Subsidies Raise Food Costs
21:10 Tobacco Subsidy Contradictions
23:38 Free Market Farming Case
24:12 Protectionism and Imports
27:47 Seen vs Unseen Politics
30:10 Republicans Becoming Democrats
32:00 Farm Subsidy Reality Check
32:54 Why Energy Subsidies Backfire
34:59 Tax Cuts vs Spending Truth
38:25 Medicare Politics Flip
40:44 Obamacare Insurance Logic
42:53 How Government Warps Markets
46:34 AI Bubble Loses Air
48:11 California Wealth Tax Playbook
53:44 Debt Crisis and Inflation Spiral
54:56 Gold and Silver Selloff Opportunity
57:45 Conference Mood and Buy the Dip
59:36 Fed Talk and Final Signoff

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Producer prices just annualized to 17%. Banks sit on $2 trillion in mortgage losses. Peter Schiff explains why 2008 and 2021 are both hitting at once.

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Producer prices just annualized to 17%, and banks are sitting on $2 trillion in mortgage losses before a single default.

Peter Schiff says the data looks like late 2020 and early 2021 all over again. September PPI rose 1.3% in one month, core PPI annualizes to 9%, import prices are up 8.1% year over year and export prices 11.6%. These are the leading indicators of consumer prices, and the CPI is already up 4% in the first nine months of 2026. Peter forecasts CPI above 7% in 2027, worse than any year under Biden, while Fed Chair Kevin Warsh has delivered a single 25 basis point hike.

Housing looks like 2007. Pending home sales just hit the lowest level in the index's history, builder confidence is the weakest since 2012, and new homes now sell for less than existing ones. Lenders hold $8.5 trillion in fixed-rate mortgages at an average 4.6% coupon, about $2 trillion underwater, four times the realized losses of the 2008 crisis. Peter explains why the Fed cannot bail out housing with QE while inflation is this hot, why Fannie and Freddie will need another bailout, and why the dollar sits at the center of what comes next.

Chapters:
00:00 Inflation and Housing Collide
02:42 Fed Averaging Target Nonsense
05:45 COVID Stimulus Fueled Inflation
09:36 PPP Fraud and Fed Balance Sheet
14:31 Transitory to Political Fallout
18:08 2026 CPI Surge and Weak Growth
22:42 Polls Turn on Trump Economy
26:17 Energy Shock and PPI Warning
29:30 Fed Behind Inflation
32:05 Import Export Price Shock
34:27 Gold Silver Mispricing
35:00 Housing Crash Parallels
39:07 Builders Slash Prices
42:32 Affordability Math Breaks
43:53 Banks Mortgage Loss Trap
51:05 Defaults And Bailouts Ahead
54:18 Fed Cornered By Inflation
56:54 Protect Wealth And Diversify
58:19 Politics Deficits And Dollar
01:00:22 Closing And Subscribe

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Producer prices rose 1.3% in one month, 17% annualized. Gold and silver fell anyway, and that is a gift.

Peter Schiff wraps a week of hotter-than-expected inflation data: September CPI up 0.6%, PPI up 1.3% against 0.5% expected with core up 0.7%, import prices up 1.1%, and export prices up 2.2% in a single month and 11.6% year over year. Traders sold gold, silver and bonds on the idea that the Fed will get tougher, but the numbers show the Fed has already lost. Fed Chair Kevin Warsh is a dove in hawk's clothing, with one 25 basis point hike in five months while the balance sheet and money supply keep growing. Gold ended near $4,145 and silver near $56.85, a buying opportunity for anyone who understands what comes next.

He explains why a mortgage crisis is brewing: $8 trillion of fixed-rate mortgages averaging 4.6% with rates at 7.5% means $2 trillion in unrealized losses before a single default, more than four times the losses of the 2008 crisis. Plus inflation under Trump versus Biden, oil above $101 as the Strategic Petroleum Reserve drains, $1.4 trillion in annual interest on the national debt, and why Peter is dressed as Goldmember.

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September prices rose 0.6%, or 7.4% annualized. Peter Schiff explains why the Fed has already lost the inflation fight and housing is next.

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September prices rose 0.6% in a month. Annualized, that is 7.4% inflation, and Washington never reports it that way.

Peter Schiff breaks down the September CPI report: a 0.6% monthly gain, 3.7% year over year, and a hotter-than-expected core reading. Washington annualizes GDP to make it look bigger but never annualizes inflation. Markets sold off across bonds, gold, silver and tech, and the odds of an October rate hike jumped from about 15% to over 40%. Peter explains why Fed Chair Kevin Warsh is a dove in hawk's clothing, with one 25 basis point hike in five months while the money supply and balance sheet keep growing. The Fed has already lost the inflation fight, which makes the sell-off in gold and silver a buying opportunity.

He traces the spiral: deficits drive inflation, inflation drives rates, and higher rates widen the deficits again. With the 30-year mortgage above 7.5% and Fannie Mae and Freddie Mac down more than 20% in three days, home prices have to fall. Plus the Beige Book's stagflation signal, 479 new 52-week lows against 60 new highs, and why Richard Heart's arrest confirms Peter's call on HEX.

Chapters:
00:00 Deficit Inflation Spiral
01:02 CPI Shock Breakdown
03:47 Markets React Rate Hike Odds
07:28 Gold Mispriced Opportunity
08:08 Fed Hawk Talk Exposed
10:18 Why Bonds Lose to Inflation
14:24 Housing Standoff Fannie Freddie
16:36 QE Return Dollar Risk
17:18 Buy the Dip Pitch
18:37 Inflation Hawks Smoke Mirrors
21:24 Socialism vs Capitalism Defined
28:20 Trump Ceasefire Reality Check
31:36 Tariffs and 5000 Check Promises
35:27 AI Work Guide Plug
36:10 Beige Book Stagflation
37:16 Stock Market Reality Check
39:18 Big Banks Double Standard
43:32 AmEx Deal Fallout
46:01 Debanking And Politics
48:22 Smoking Gun Email
57:44 FOIA Evidence Trail
01:00:11 Media And Government Corruption
01:05:54 Nick McKenzie Theory
01:12:21 Crypto Fraud Arrest
01:14:16 Gold Silver Signoff

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Consumers are more worried now than at 2022's 40-year inflation high. Peter Schiff shows why the 'greatest economy ever' is pure fiction.

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Consumers are more worried about their finances than at any point in 75 years. Washington calls it a boom.

Peter Schiff takes apart the claim that America has the greatest economy in history. The University of Michigan's current conditions index just fell to an all-time low in a survey that dates to 1951. Households were less worried during the Cuban missile crisis, the 1970s gas lines, 9/11, the 2008 financial crisis, COVID and the 40-year inflation high of 2022 than they are today. Loan delinquencies are the highest since 2010, and the biggest wealth gains are going to households headed by someone 75 or older, because the same policies that raise the cost of living also inflate the stocks they own.

Peter argues the weak economy explains the week's politics: a diesel deal with Russia three weeks after a law authorizing 100% tariffs on buyers of Russian energy, a pledge not to bomb Iran until after the midterms, and a committee of Trump appointees investigating Fed governor Lisa Cook. He also covers Fed minutes in which officials concede policy is not restrictive, a 30-year Treasury yield that reached 5.73%, why 7.4% mortgages are a return to normal, the week in gold, silver and Bitcoin, and why barring Microsoft from sponsoring foreign workers sends those jobs, taxes and spending overseas.

Chapters:
00:00 Record Low Confidence
01:03 Trump Boom Claims
03:39 Michigan Sentiment Shock
06:58 75 Years of Crises
11:19 Great Economy Fiction
11:36 Winter Prep Sponsor
12:46 Polls and Debt Stress
16:19 Who Benefits From Boom
17:54 Russia Diesel Flip Flop
22:29 Iran Timing and Markets
24:16 Rename AI to SI
26:06 Lisa Cook Probe Committee
28:51 Mortgage Fraud Politics
30:53 Fed Minutes More Hikes
32:02 Bond Yields New Normal
33:05 Bitcoin Real Estate Debate
36:40 High Debt High Rates
38:15 Weekly Market Recap
39:03 Gold Silver Buy Zone
40:27 Bitcoin Anniversary Reality
42:50 Treasury Yields Reality Check
44:43 H1B Visa Backlash
46:30 Who Owns The Job
52:42 Remote Hiring Consequences
56:29 Wrap Up And Sign Off

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