Peter Schiff

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

[Peter Schiff @PeterSchiff]

Every Crisis I Warned About Is Converging... This Is the End Game
https://t.co/CtFHP5SBoQ

[Peter Schiff @PeterSchiff]

@IngrahamAngle But Trump and other Republicans refuse to cut spending too. In fact, the Big, Beautiful, Bill raised spending. So government will get more expensive regardless of who we vote for. The cost will be paid through higher inflation.

[Peter Schiff @PeterSchiff]

When everyone else was writing off coal, Schiff Sovereign’s investment research featured what might have been the most anti-ESG company in the investment universe.  And in oil, we featured companies that others had put in the "too difficult" bucket because of where they operate. That's because the team firmly believes the world will rely on fossil fuels for a long time to come, a point that should be obvious to all by now. With energy prices continuing to rise, our research features three energy companies that have more cash than debt and are well placed to benefit from higher prices.
https://t.co/hDaPXsp3mw

[Peter Schiff @PeterSchiff]

@StephenMoore How can you talk about tax relief without first slashing government spending. The BBB just replaced taxes with more inflation, so higher prices.

[SchiffGold @SchiffGold]

Peter Schiff argues the Fed is trapped: fighting inflation aggressively risks stocks, housing, and the economy, while holding back risks more inflation. Meanwhile, he says gold is exposing the dollar’s weakness.

https://t.co/NQUK5wRxyV

[Peter Schiff @PeterSchiff]

In a few years the national debt will be $50 trillion. If by then we pay 8% interest, the annual bill will be $4 trillion, and annual budget deficits will likely be $6 trillion. How will we pay for that? Triple the income tax? Eliminate all entitlements and most federal programs?

[Peter Schiff @PeterSchiff]

The 10-year Treasury yield topped 5.33%, the highest since 2002. Our national debt in 2002 was just $6 trillion. Paying 5.33% on that entire amount would cost $319.8 billion annually. On today’s $40.1 trillion debt, it would cost $2.14 trillion annually—more than Social Security.

[Peter Schiff @PeterSchiff]

@thiltner7 If you don't care about government corruption one day you may be a victim of it yourself.

[Peter Schiff @PeterSchiff]

Myrna Lozada was sitting beside me when OCIF Commissioner Natalia Zequeira told me I did not need to inject additional capital into Euro Pacific Bank. Yet when OCIF later closed the bank for insufficient capital, Myrna refused to put what she had witnessed in writing.

Myrna, of Goldman, Antonetti & Córdova, P.S.C., had represented the bank before OCIF since its move to Puerto Rico in 2017. We relied on her and her firm’s expertise to comply with OCIF’s requirements.

At our November 2021 meeting with the Commissioner, I offered to inject $7 million. The Commissioner told me not to. She said the bank could continue operating with its existing capital while OCIF reviewed the proposed change of control. Once approved, the new owner would supply the additional capital needed to meet the regulatory minimum. Myrna subsequently spoke with another OCIF official who confirmed that understanding.

This was no incidental remark. Capital was a central issue, I offered a concrete solution, and the Commissioner expressly told me that my proposed contribution was unnecessary.

From that meeting until the bank’s closure on June 30, 2022, Myrna never sent me or anyone at the bank a single email advising that additional capital was required. She knew the bank’s capital position. Her conduct throughout those months was consistent with precisely what I remember: OCIF had agreed that the additional capital could wait for approval of the change of control.

I believe OCIF subsequently used the very capital shortfall it had allowed as a pretext to close the bank, coordinating with the IRS and ATO to present the closure as a J5 victory against tax evasion and money laundering. The bank was never told that the Commissioner had changed her position or that my offer to contribute capital should be revisited.

When the bank was closed, the law firm we had relied on refused to continue representing me, forcing me to find new counsel. When I later asked Myrna to sign an affidavit documenting the Commissioner’s assurance, she claimed she could not remember it.

I find that explanation impossible to accept. She heard the assurance, discussed it with me, and obtained confirmation from another OCIF official. For months afterward, she never advised us to act contrary to it. Yet when documenting that assurance became critical, she said she could no longer recall it.

I believe her refusal was about protecting her relationship with OCIF and the Commissioner, whose goodwill mattered to her future practice. In my view, she put that relationship ahead of the client who had relied on her for years.

She accepted years of legal fees to help us comply with OCIF’s requirements. But when OCIF acted against the bank on an issue she had personally helped us address, she would neither continue representing us nor document what she had witnessed. That is why I regard her conduct as a profound betrayal.

[Peter Schiff @PeterSchiff]

@porc4000 That was not the reason, it was the pretense. The reason was the mainly that the Australian Tax Office wanted a public relations victory, to turn a failed criminal investigation of my bank into a fake success.

[Peter Schiff @PeterSchiff]

@1flapdown77 Myrna never got it in writing. But there at least five other people sitting around the table with us, including three other OCIF officers, when I made the offer to add capital and the Commissioner replied that it was not necessary.

[Peter Schiff @PeterSchiff]

@steve_hanke They're not that smart but you would have to be pretty dumb not to realize that.

[SchiffGold @SchiffGold]

Gold represents less than 0.5% of American consumer portfolios. This article argues that social stigma, unfavorable tax treatment, and financial-industry incentives help keep allocations unusually low.

https://t.co/hdTaCdlI8P

[Peter Schiff @PeterSchiff]

@freemoneyjesse It's not. It's just all the AI related capital investment that is masking the weakness in the rest of the economy.

[Peter Schiff @PeterSchiff]

This is how bear markets work. After an initial rally following a lower-than-expected rise in the Aug. PCE, Treasuries then sold off to new lows. The yield on the 10-year is now 5.3% and the 30-year 5.65%. It's still early in what will be the biggest bond bear market in history.

[Peter Schiff @PeterSchiff]

Every Crisis I Warned About Is Converging... This Is the End Game
https://t.co/fjCzB2KGIu

[Peter Schiff @PeterSchiff]

Some of the most misunderstood companies are those that are ramping up or expanding production. Our investment research has recently featured two polymetallic miners that are in the middle of completely transforming their operations, yet remain off the radar and misunderstood by most investors. Our team walks subscribers through the investment case, the catalysts the market hasn't noticed, and the risks.

https://t.co/FmqlhkzJ5D

[Peter Schiff @PeterSchiff]

OCIF quietly shut down a bank that it actually thinks facilitated money laundering, but called a press conference to announce the shutdown of my bank, despite admitting that they found no evidence of money laundering. The difference was pressure from the IRS on behalf of the ATO.

[SchiffGold @SchiffGold]

Peter Schiff warns that Wall Street’s optimism is colliding with rising bond yields, weak market breadth, and persistent inflation. He argues gold could be the last safe haven standing.

https://t.co/G4HW5z4N5v

[Peter Schiff @PeterSchiff]

Personal income rose just .2% in Aug. as spending surged .9%. To make up the shortfall, consumers dipped into their shallow savings pool, causing the savings rate to plunge to 4.1%, the lowest since Nov. 2022. This explains low consumer confidence and why Dems will win this Nov.