Bond Yields Just Hit a 2007 High... Every Buyer Became a Seller

Peter Schiff on the fake jobs beat, Trump's trade ultimatum, yields at 2007 highs, a 162% tariff bill, and why the Fed is the last buyer.

📢 Please Support Our Sponsors: - Proton Pass. Go to https://proton.me/peter to get 50% off, backed by a 30-day money-back guarantee. - DripDrop. Stock up now at https://dripdrop.com and use promo code GOLD for 20% off - Ground News. Go to https://groundnews.com/schiff to get 40% off the unlimited access Vantage plan and unlock world-wide perspectives on the stories shaping our world.

The government says 162,000 jobs is a boom. Peter Schiff says it's a miss, and the bond market agrees.

The August jobs report came in at 162,000 against a 55,000 consensus, and Peter Schiff walks through why the number is worse than it looks. The birth-death model supplied 74,000 of those jobs, 45% of the total, on the assumption that new businesses were hiring. More than a third of the rest were waiters and bartenders. JOLTS and ADP both pointed the other way, last month was revised down, and real wages are falling. Kevin Hassett called it a boom; by most measures the economy is weaker than the day Trump took over.

Then Trump raised the stakes. He declared that America deserves the lowest interest rates in the world, then threatened to terminate all trade with any surplus country if the Fed doesn't cut. Peter's answer: the United States has never been a worse credit risk than it is right now. The 10-year hit 4.81% and the 30-year 5.28%, the highest since 2007. Japan has sold its Treasury holdings down from $1.3 trillion to $1.1 trillion, everyone who was buying is now selling, and the Fed will end up the buyer of last resort, which means inflation.

Peter also covers the week's real data: the July trade deficit at $88.6 billion, the biggest since March 2025; the $283 part that cost him 162% of the tariff once FedEx added its fee; diesel at a record above $5.80; Lutnick on semiconductors and Bastiat's candlemakers; Waller's rate comments sending gold back above $4,400; and an update on TGold's coming gold debit and credit cards.

Chapters: 00:00 No Buyers Left 00:29 Back In Puerto Rico 00:47 Jobs Report Miss 05:36 Real Wages Falling 06:09 Waiters And Bartenders 08:00 JOLTS ADP Contradiction 09:10 Birth Death Model 10:23 Hassett Boom Claim 13:27 Trump Rate Demands 15:20 Worst Credit Risk Ever 17:24 Trump Trade Ultimatum 24:07 Bessent Kudlow Interview 27:27 Yields Hit 2007 Highs 28:24 Yen And Japan Selling 31:14 Oil Diesel Record 33:15 Stocks Gold Silver 39:16 Trade Deficit Widens 42:02 My 162% Tariff Bill 45:37 Lutnick Semiconductors 48:33 Bastiat Candlemakers 51:08 Waller Rate Comments 53:39 Gold Pullback Gift 54:03 TGold Cards Update 1:00:24 Bitcoin And EuroPac 1:02:12 Labor Day Sign Off

Follow @peterschiff X: https://twitter.com/peterschiff Instagram: https://instagram.com/peterschiff TikTok: https://tiktok.com/@peterschiffofficial Facebook: https://facebook.com/peterschiff

Free Reports & Market Updates: https://www.europac.com Book Store: https://schiffradio.com/books Sign up for Peter's most valuable insights at https://schiffsovereign.com Schiff Gold News: https://www.schiffgold.com/news

Our Sponsors: * Check out Fast Growing Trees and use my code GOLD for a great deal: https://www.fast-growing-trees.com * Check out Plaud AI and use my code GOLD for a great deal: https://www.plaud.ai

Privacy & Opt-Out: https://redcircle.com/privacy