Schiff on Mining Network: Borrowing Short Puts the Country at Risk

Peter recently returned to the Mining Network for an interview with Peter Gadsdon. In this interview the duo covers executive overreach, unreliable government jobs data, a weakening dollar, and why persistent inflation will keep the Federal Reserve from cutting rates. Peter ties all of these threads to a larger theme — loss of confidence in fiat money and the growing logic for holding sound money.

He opens by calling out a recent deal struck by President Trump and Nvidia that oversteps constitutional authority and functions like an export tax. Peter sees it as another example of presidential power expanding at the expense of constitutional limits and ordinary commerce:

Trump doesn’t have the authority to do this. And also, it amounts to an export tax, which is completely unconstitutional because the Constitution doesn’t even give the government the power to tax exports. They can tax imports, but those are supposed to originate in the House of Representatives, not with the White House. So Trump is making a mockery of the Constitution. He is dramatically expanding the power of the government, particularly the presidency.