Schiff w/ Jimmy Morrison: Prepare for Data Revisions

Peter recently joined Jimmy Morrison on his show, “Let Us Disagree.” He delivers a candid analysis of today’s economic terrain, connecting long-term monetary trends with the pitfalls of trade policy and exuberance in crypto markets. In this wide-ranging conversation, Peter draws on personal experience to highlight gold’s value proposition in 2025 and compares today’s world to the pre-2008 recessionary build-up. Along the way, he also recalls the influence of his father and his time interacting with the Occupy Wall Street movement.

Early on, Peter draws a sharp contrast between the prevailing trade narrative in Washington and the underlying reality. He argues that, contrary to popular belief, the United States has benefited from global trade imbalances—not the reverse:

But I think the biggest mistake that everybody is making, not just the Trump administration but all the Republicans that are rallying around him, are the impact of these tariffs. … Trump is of the opinion, and so are a lot of the people that are advising him, that the U.S. has been taken advantage of by the rest of the world—that somehow, by producing stuff for us to consume and loaning us the money to pay for it, they’ve been screwing us over, and that’s got to end. And Trump’s got it backwards. They’re not screwing us over, they’re subsidizing us.