Schiff on VRIC Media: Hike Rates, Back Gold, Dump Bitcoin

In a recent VRIC Media interview, Peter lays out a straightforward critique of modern monetary policy and the political choices driving today’s economy. He connects low interest rates, tariffs, and misguided enthusiasm for crypto to a brewing misallocation of resources, and points listeners toward gold and real assets as sensible hedges.

He starts by taking aim at the prevailing idea that current interest rates are “high,” arguing instead that rates remain too low given true inflation and historical norms. He also reminds listeners that official inflation measures have been altered over the decades and that a proper accounting would show prices rising much more than people think:

But the correct monetary policy is actually to hike them. Rates are too low. Yes, I mean, they’re four and a half and people think that’s high compared to the fact that we had zero. But that’s an artificial benchmark to measure anything by. From a historical perspective, if you look before the 2008 financial crisis, we have low interest rates right now, but we have high inflation, especially, you know, if we measured it accurately, if we still have the same CPI they were using in the 70s, you would see that the inflation is actually quite high.