The US needs to borrow $20 trillion this year. Saylor just blew 60% of his cash paying off 0% debt early. The dominoes are falling.
Tonight’s episode is sponsored by Rockwell Automation. Download their 11th Annual State of Smart Manufacturing Report at rok.auto/sosm
Tonight’s episode is also sponsored by 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.
Donald Trump spent Memorial Day weekend claiming an Iran deal was 90% done — oil dropped $10 to below $90, but bond yields barely moved, with the 10-year still at 4.5% and the 30-year above 5%. Peter Schiff argues the bond market is telling the real story: with $13 trillion in debt maturing this year plus $3 trillion in new borrowing, the US needs to convince creditors to roll over nearly $20 trillion — an amount without historical precedent.
The AI CapEx bubble is now consuming a trillion dollars a year, funded by layoffs and foregone investment in actual manufacturing. Schiff compares it to dot-com: the technology is real but the stocks are wildly overvalued and most will go to zero when rising interest rates prick the bubble. Meanwhile, Michael Saylor burned over 60% of Strategy’s cash reserves paying off zero-interest convertible notes three years early — a move Schiff says was forced by behind-the-scenes pressure, not financial genius. Elizabeth Warren accidentally made the best case against payroll taxes by pointing out that companies are incentivized to replace workers with AI because hiring people is taxed while buying computers isn’t — though her solution is more taxes, not fewer.
Chapters:
00:00 – Intro
00:53 – Iran War & Market Reaction
06:47 – Bond Market & The Debt Crisis
14:25 – Ad Break: Ethos
15:47 – The AI CapEx Bubble
26:23 – Gold, Silver & Mining Stocks
29:11 – IRS Lawsuit & Bank Documentary
32:12 – Ad Break: Rockwell Automation
33:35 – Elizabeth Warren’s AI Tax Proposal
47:28 – Strategy, Bitcoin & The Coming Bust
57:25 – Tokenized Gold vs Bitcoin
58:42 – Summer Sign-Off & 250th Anniversary
#PeterSchiffShow #DebtCrisis #GoldInvesting
