Peter Schiff on 22-year high yields, record diesel, McDonald's inflation warning, and Trump's claim he told Warsh how to vote. 📢 Please Support Our Sponsors: - AG1. For a limited time, save 20% on your first subscription order of AG1 Next Gen or AG1 Pro at https://drinkag1.com/schiff - Upwork. Visit https://upwork.com right now and post your job for free to connect with top talent ready to help your business grow. - Ethos. Protect your family with life insurance from Ethos. Get up to $3 million in coverage in as little as 10 minutes at https://ethos.com/gold. Application times may vary. Rates may vary. Peter Schiff reviews the rise in Treasury yields to multi-decade highs and what 5% rates would mean for interest on the $40 trillion national debt. He opens with a comment Donald Trump made after the Fed's 25 basis point hike: that he told Kevin Warsh he "might as well vote with the board." Peter argues that either Trump is lying or, if the conversation happened, the Fed chairman is clearing his votes with the president, and that Warsh should be asked directly at the next press conference. He then turns to the bond market. The five-year auction cleared at 5.03%, the highest in just over 20 years; the 30-year reached 5.41%, a 22-year high, and the 10-year hit 5.12%. He expects the 10/30 spread, now under 30 basis points, to widen back toward 50 or more, and suggests shorting the 30-year against the 10-year. If the government pays 5% on $40 trillion, interest would run $2 trillion a year, about 35% of tax revenue and more than Social Security, with the debt growing by more than $3 trillion a year. He says stock investors still assume yields are near a top. McDonald's stock fell about 5% after its CEO said inflation would stay elevated for "many more years," which Peter contrasts with Warsh's claim that expectations are anchored at 2%. He agrees with Warsh that growth does not cause inflation; loose monetary policy does. Diesel set another record above $6.50 a gallon, near $10 in California. Peter argues a diesel export ban would cut production, and that drawing down the Strategic Petroleum Reserve leaves nothing for a real emergency. On the midterms, he notes Democrats are now 65% favorites to take the Senate, with cost of living the top issue, and blames Trump rather than Biden for inflation, while the Gulf conflict looks to be worsening. He criticizes the White House for pulling credentials from CNN, Politico and MS Now, recounts Trump's reaction to his Fox & Friends appearance, and discusses California's lawsuit against Trump Media over selling early access to Trump's posts for $50,000 to $100,000 a month, which he calls insider information. Peter closes with his Schiff Sovereign Plan B conference in Panama, which drew 130 to 140 attendees, and the story of his grandparents arriving through Ellis Island in 1902 and 1903 with no paperwork. His argument: the problem is not immigrants but the welfare state, and listeners should get their financial house in order, including gold, silver and TGold. Chapters: 00:00 Diesel Hits Record Highs 00:52 Back From Panama Update 03:19 Trump Fed Comment Fallout 09:34 Treasury Yields Break 5% 12:42 Debt Interest Disaster Math 17:30 McDonalds Warns Inflation Years 22:20 Diesel Export Ban And SPR Risks 27:23 Midterms Senate Odds Shift 30:40 War And Media Crackdown Concerns 31:38 Press Ban Fallout 33:18 Fake News Double Standard 33:38 Fox Interview Backlash 35:54 Truth Social Insider Edge 37:12 Market Moving Posts Explained 41:13 GOP Hypocrisy Warning 43:06 Panama Plan B Conference 45:27 Why Panama Appeals 47:40 Gilded Age Tariff Myth 48:45 Open Immigration Then 55:21 Welfare State Border Reality 59:23 Plan B Portfolio Prep 59:51 Signing Off Anniversary 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 #nationaldebt #inflation #federalreserve Our Sponsors: * Check out Chilipad and use my code GOLD for $255 off! Visit https://sleep.me. * 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 * Check out TruDiagnostic and use my code GOLD20 for a great deal: https://www.trudiagnostic.com Privacy & Opt-Out: https://redcircle.com/privacy
