Schiff w/ Diesen: War Will Wreck the Economy

In his latest interview with Glenn Diesen, Peter focuses on the economic fallout from the recent war and what it means for jobs, inflation, and the dollar. He argues policymakers are stampeding toward more debt and money printing at exactly the wrong time, which makes gold and silver an increasingly sensible hedge for savers who want real, sound money. The conversation ranges from weak jobs data to oil chokepoints, tariff effects, and the inevitable winners and losers when nations go to war.

He opens by warning that the labor market was already fragile before the conflict—and that the war will add more economic pain for consumers and workers alike:

I think it’s going to have negative implications. I think the economy was already weak before we launched this war. In fact, we just got the jobs numbers today from February, which of course was before the war, and we lost 92,000 jobs. It was the worst report in five years, at least the way they initially reported it, but with downward revisions there was actually a bigger job loss now in October of 2025. … We already had inflationary pressures building. Now they’re going to build even more.

He says wars are expensive in both dollars and political capital, and that the fiscal response will likely be inflationary while also reshaping politics ahead of the next elections: