Schiff on VRIC Media: Gold is the Tip of an Economic Iceberg 

On Wednesday, Peter appeared on VRIC Media for an interview with Darrell Thomas. Together they walk through why headline stock indexes give a false picture of economic health and why sound money matters more than ever. Peter also critiques political uses of market performance, lays out the real cost of tariffs and bad policy, and reminds listeners that gold and silver are warning signals for a coming dollar and sovereign debt problem.

He begins by dismissing the idea that a single Dow milestone proves presidential economic success, and he explains why price inflation distorts stock gains when measured in dollars:

So [Trump’s] using the stock market as kind of a report card on the efficacy of his policies, and he’s making a big deal about 50,000. Well, first of all, when he was inaugurated, the Dow was 44,000. So it’s not that much higher. It’s been over a year, and it’s only up 6,000, I mean, but 12%. You know, the stock market was going up pretty much every year that Biden was president. We kept hitting record highs under Biden. You know, we got to 40,000 under Biden, and Trump said we had the worst economy in the world back then. So if the stock market wasn’t a good indicator of the economy under Biden, why is it all of a sudden the most important thing under Trump? 

Peter follows that by cutting through political spin: the real story is an economy that is weak and inflation that remains persistent, not a boast about market milestones: