Peter Schiff: Please Keep the Government Closed

On Wednesday’s episode of The Peter Schiff Show, Peter lays out why recent market headlines—everything from the government shutdown to the wobble in crypto—point back to one theme: more easy money and bad policy. He connects the dots between Washington’s spending, tariff-driven price pressure, and risky mortgage fixes.

He starts by flipping the common narrative about the government shutdown and gold, and explains why reopening the government actually tends to be bullish for bullion because business-as-usual in Washington means more spending and money creation, not less:

Now a lot of people might have thought intuitively, well wouldn’t that be bad for gold? I mean, wasn’t gold going up because the government shutdown was bad for the economy, it was creating uncertainty and that was benefiting gold, and so that once that uncertainty was behind us, once the government reopened and that was good for the economy, that would hurt gold. That’s what a lot of people might have thought, but the opposite happened because the government reopening isn’t bad for gold; it’s the government staying open that’s bad for gold, because when the government is open it’s doing bad stuff.

From there he contrasts gold’s stability with the volatility in crypto, warning that the country leading in crypto exposure stands to suffer the most when that bubble deflates—and that those losses will be another tailwind for gold as malinvestment unwinds: