Peter Schiff

Chief Economist & Global Strategist Chairman Founder Host Best-selling Author

[Peter Schiff @PeterSchiff]

Diesel Just Hit a Record $6.50... And the Reserve Is Running Out
https://t.co/eIahs0Gr4B

[Peter Schiff @PeterSchiff]

This Happened Twice in 100 Years... Both Times, Stocks Fell 49%

New episode
https://t.co/s9n86XSOOG

[SchiffGold @SchiffGold]

Peter Schiff examines where he believes politics is overriding sound policy—from Fed decisions and soaring debt costs to inflation, the Strategic Petroleum Reserve, press access, and government ethics.

https://t.co/yEKTLHLHcd

[SchiffGold @SchiffGold]

Inflation remains above the Fed’s 2% target years after the post-Covid surge. This article examines the Fed’s inflation record, lost purchasing power, and rising long-term borrowing costs.

https://t.co/QASVR5SNj0

[Peter Schiff @PeterSchiff]

@ANMOLSAINII Now only 3,500 customers remained when the government took over. But only 78 were paid in four years and three months. Plus they only got about 92 cents on the dollar. There was enough money left to pay everyone in full.

[Peter Schiff @PeterSchiff]

Here's an example of capitalism versus socialism: In the two years before the government took over running my bank, we fully repaid over 4,500 customers 100% of their deposits. In the four years since the government took over the job of repaying customers, only 78 have been paid!

[Peter Schiff @PeterSchiff]

@ttxwe https://t.co/7mBa0QD7zN

[Peter Schiff @PeterSchiff]

@jcactrades It didn't. We could have repaid everyone. Those 4500 customers were about 70% of our customer base.

[SchiffGold @SchiffGold]

Why do asset holders prosper while wage earners struggle with rising living costs? This article argues the K-shaped economy can be understood through the Cantillon effect and monetary policy.

https://t.co/mHr9kjA6bu

[Peter Schiff @PeterSchiff]

@NostalgicJimmy I will address this on today's podcast. Make sure to listen.

[Peter Schiff @PeterSchiff]

The S&P 500 is 0.7% below a record high, yet 430 of those stocks are 21.7% below their highs. That means on average 86% of the stocks are in a bear market. Breadth has only been this bad twice, in January 1973 and in 1999/2000. On both occasions, the S&P then crashed nearly 50%

[Peter Schiff @PeterSchiff]

@MindMathMoney 60% of the stocks in the S&P 500 are more than 20% below their highs. So 60% are in bear markets.

[Barchart @Barchart]

10-Year Treasury Yield is on the verge of breaking above 25-year resistance on the monthly chart 🤯👀 Uh Oh

[Peter Schiff @PeterSchiff]

@Propaganda_24_7 I am already the biggest victum of this crime. The right thing is not for me to cover all the customer's losses I had no role in creating in addition to my own.

[Peter Schiff @PeterSchiff]

The Puerto Rico government put my completely solvent bank into receivership under the pretense of protecting customers, who needed no protection at all, as there was more than enough cash in the bank to repay every customer in full. But now, thanks to the government's "help," customers need protection from the Receiver.

The Receiver was put in charge of my bank over four years ago. Over that time, he has paid a total of 78 customer claims out of thousands of customers, including the 27 he paid in Q2 of 2026. During that quarter, he paid himself $109,732 and paid another $59,242 in bills the bank supposedly incurred, despite it not being in business. The total spent over the quarter was $168,974 to pay just 27 claims. That's two claims per week, at an average cost of $6,260 per claim.

Despite the bank having over 3,500 customers when it went into receivership, the Receiver only recognizes 679 claims. I guess the rest of the customers will just lose everything. Before the government organized publicity falsely accusing the bank of facilitating tax evasion and money laundering in the fall of 2020, it had over 8,000 customers. At least most customers withdrew their money before the government stepped in to "protect" them.

This means that after four years and three months, only 2.2% of the bank's customers have been paid. At the rate at which the Receiver settled claims in the most recent quarter, if he pays the remaining 601 claims he admits are outstanding at the same pace, it will take over five and a half more years to finish the job. During that time, the Receiver will pay himself another $2.44 million.

However, since June 30, 2022, the Receiver has spent a total of $2,192,989, including $863,517 paid to himself. Since only 78 claims have been paid in total over that time, the total cost per paid claim is over $28,000! This is despite the governing liquidation order requiring the bank “to be liquidated in the most efficient and inexpensive way possible.”

This is a total racket. The Puerto Rican government has allowed the Receiver to turn my bank into his personal piggy bank. The worst part of this travesty is that there was no legitimate regulatory reason to shut down the bank. Even if there was, there was no financial reason to put it in receivership. It was all a PR stunt so OCIF, the IRS, and the J5 could take false credit for stopping tax evasion and money laundering, despite knowing that my bank facilitated neither of those crimes.

It's hard to imagine a better example of government corruption than what is happening in Puerto Rico to my bank. Let this serve as a warning to anyone outside of Puerto Rico looking to set up an offshore bank. Stay away from Puerto Rico. If you happen to have any money in a Puerto Rican bank, withdraw it now while you still can.

[Peter Schiff @PeterSchiff]

@JohnGluek It was clearly a mistakes. I will never make it again.

[Peter Schiff @PeterSchiff]

@pairunoyd The government stole their money, not me. Plus I lost of $10 million that I invested in the bank. Tens of milions more if you count what the bank would have been worth had governments not destroyed it.

[Peter Schiff @PeterSchiff]

@MiamiDon223 It's the Receiver's data from his own report.

[Peter Schiff @PeterSchiff]

@0xLoca Exactly. His kids can inherit the job.

[Peter Schiff @PeterSchiff]

@Brian_Shuster I wish so too. I'm posting it all on X. So members of the media are aware and can do something investigating if they want to.

[Peter Schiff @PeterSchiff]

@AutoDiddakt A lot. I have not added it up.