Tariffs Are a Tax: Price Shock Ahead

Peter Schiff examines the economic fallout from tariffs, critiques Bitcoin's poor performance, and forecasts the implications for upcoming elections.- This episode is sponsored by Odoo. Sign up for free at https://www.odoo.com/r/peter- This episode is also sponsored by Kalshi. Use promo code: SB60 when you sign up to get $10 when you trade $10Gold and silver are stabilizing after last week’s historic paper-market smash, and the real story is what’s coming next: a weaker jobs trend, rising energy, and a tariff regime that’s functionally a tax on everyday Americans.Peter breaks down the ugly ADP print (and the downward revision), why the “strongest economy ever” narrative doesn’t pass the smell test, and why oil’s turn higher undermines the administration’s last clean talking point on inflation.Then Peter walks through Scott Bessent’s testimony and why tariffs are politically toxic: officials can’t claim tariffs don’t raise prices while simultaneously admitting removing tariffs lowers prices. That contradiction is the whole game.Finally, Peter covers the optics and incentives of open graft and self-dealing, why it’s setting a precedent both parties will exploit, and why this mix of affordability pain, weak labor signals, and policy doublespeak is tailor-made to punish the incumbents in the midterms.Chapters:00:00 Introduction and Opening Remarks00:55 Market Analysis: Gold and Silver06:30 Bitcoin and Cryptocurrency Critique19:40 Economic Indicators and Job Numbers26:30 Political Commentary and Election Predictions29:45 Midterm Election Predictions30:08 Scott Bessett's Testimony31:20 Republican Strategies and Challenges33:00 Economic Concerns and Tariffs33:59 Calci Sponsorship35:27 Tariffs and Affordability Issues43:23 Trump's Conflicts of Interest54:13 Housing Affordability Debate57:33 Conclusion and Upcoming ContentFollow @peterschiffX: https://twitter.com/peterschiffInstagram: https://instagram.com/peterschiffTikTok: https://tiktok.com/@peterschiffofficialFacebook: https://facebook.com/peterschiffSign up for Peter's most valuable insights at https://schiffsovereign.comSchiff Gold News: https://www.schiffgold.com/newsFree Reports & Market Updates: https://www.europac.comBook Store: https://schiffradio.com/books#tariffs #economicindicators #cryptocurrencyOur 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://plaud.ai* Check out Quince and use my code quince.com/gold for a great deal: https://www.quince.com* Check out TruDiagnostic and use my code GOLD20 for a great deal: https://www.trudiagnostic.comPrivacy & Opt-Out: https://redcircle.com/privacy