Show Notes
Warsh admitted monetary policy caused inflation. Bessent thinks silver certificates still redeem at Fort Knox. And import prices are up 7.1%.
This is episode is sponsored by Function. Join at https://functionhealth.com/peter and use code PETER25 for a $25 credit.
This episode is also sponsored by Pebl. Go to https://hipebl.ai to get a free estimate.
Treasury Secretary Scott Bessent told Fox viewers that old silver and gold certificates can still be redeemed at Fort Knox. Gold certificates were repudiated in 1933 and silver certificates in 1968. Peter Schiff argues that if the man who signs the currency does not know basic monetary history, there is no reason to trust his assurance that the gold in Fort Knox is all there.
Markets confirmed the AI bubble is deflating. SpaceX fell 13.25% on the week to close below $124, under its $135 IPO price, and anyone who bought the post-IPO high near $225 is down 45%. Only about 5% of the company trades today, but lockups expire through year end and take the float to roughly 40%, an eightfold increase in supply. Gold closed at $4,017 and silver at $55.83, which Schiff calls a head fake created by the false narrative that war is bad for gold.
The honest inflation numbers tell a different story than the CPI: import prices are up 7.1% year over year and export prices are up 10.2%, against a reported 3.5%. Kevin Warsh admitted in Senate testimony that monetary policy caused the inflation, then offered a plan that amounts to talking about it while the Fed's balance sheet grew another $7.4 billion. Schiff also covers Trump selling paid early access to market-moving posts and explosive new FOIA emails showing Euro Pacific Bank was shut down for publicity, with the Australian Tax Office driving the operation to protect a journalist facing his defamation suit.
Chapters: 00:00 Trump Posts Paywall 01:23 Market Week Wrap 07:42 Gold Silver War 09:52 Inflation Data Reality 23:30 Warsh Hearing Grifts 37:59 AI Jobs and Progress 40:22 Trump Post and Fox Fallout 44:05 FOIA Trail and Censorship Claims 50:31 Nine Fraud Bank Shutdown Emails 57:07 Operation Atlantis PR Exposed
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
#PeterSchiffShow #FortKnox #Inflation
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
More from The Peter Schiff Show Podcast
Producer prices just annualized to 17%. Banks sit on $2 trillion in mortgage losses. Peter Schiff explains why 2008 and 2021 are both hitting at once.
Producer prices rose 1.3% in one month, 17% annualized. Gold and silver fell anyway, and that is a gift.
September prices rose 0.6%, or 7.4% annualized. Peter Schiff explains why the Fed has already lost the inflation fight and housing is next.
Consumers are more worried now than at 2022's 40-year inflation high. Peter Schiff shows why the 'greatest economy ever' is pure fiction.
Tariffs failed, imports hit a record, and France is rioting. Peter Schiff explains why America's sovereign debt crisis is next.