Peter Schiff: More Tariffs Mean Less Affordability

In his Wednesday podcast, Peter walks listeners through the frantic moves in precious metals, the unraveling Bitcoin narrative, and recent weak jobs data. He argues the gold and silver sell-off was a technical flush rather than a change in fundamentals, warns that Bitcoin’s long-promised outperformance has failed, and calls out tariffs and government spin for masking real economic weakness.

He opens by describing the shock sell-off in precious metals and why the panic was overblown:

Man, I remember when gold was less than $500 an ounce, let alone dropping by $500 an ounce; silver dropped $30 in a single day. Both hit all-time record highs the prior day: gold was close to 5,600 and silver had topped $121 an ounce. And it wasn’t a shortage of people on the financial media saying, “You see, we told you gold was a bubble, we told you silver was a bubble,” right, they thought it had popped. They don’t understand that nothing changed.

He tells listeners why the recent pullback should be greeted as a buying opportunity rather than a reason to sell: