SomebodythatIusedtonope
245782
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Peter Schiff
Jan 29, 2026 11:13 AM
SomebodythatIusedtonope
245782
673
20
Peter Schiff
BoobJiggle
As a veteran and American, good. Fuck us up, and don't fucking stop until the GOP is a smoldering fucking ruin.
Comboverman
good bye America
Jonson71
"You sound like (the extremely well informed CEO of JP Morgan) Jamie Dimon" is not the retort she thinks it is.
LutraLazuli
To think that 20 years ago, I could have bought an ounce of gold for $480 and silver for roughly $5/oz.
Peace0ut
Yeah, but what about Hillary's emails?
makesense
You also have Jerome Powell trying desperately not to lower interest rates much more. We are in a very bad spot. We have a President who has demanded interest rate cuts thinking this would make our economy stronger. But lowering interest rates are what you do when the economy goes bad to stimulate it. And that is why you get higher inflation afterwards. If you lower them before the crash, then you compound it by jacking up inflation and have nothing more you can do to stimulate.
philmoregraves
Best thing america ever did for China was vote in trump
Poppypoppoppop
"You sound like Jamie Dimon, haha" (CEO of JPMorgan Chase) Dude is raising all the red alarms and this anchor only reply is a joke about not believing the words of the CEO of a international bank in the first place?
KingKrabvoldIV
Would you look at that, gold and silver plunged 25% just today. Peter Schiff still hocking this shit?
pseudoersatz
It’s fine. This is natural. Most fascists collapse their economy. They’ll round up all the dissidents into slave labor death-camps to rebuild it, and everything will recover for the low-low price digging a few mass graves.
Maraxus
Peter is underestimating US influence, there are several other nations, who this will negatively impact, too. I mean, we did try to decouple for a year but the glacial speed at which our Euro bureaucracy moves means, we are still so close we are gonna get dragged down, too. ... I guess it's a good year to be a Chinese Billionaire?
TheWombatStrikesAgain
Oh, but the crisis WILL be exported. Because when the US economy collapses (again), everyone exporting to the US is gonna feel that. Although ironically, Trumps tarriff idiocy incentivised exporters to no longer focus on America and diversify. The EU for example just recently signed massive new trade agreements with Mercusor and India.
KaylRawr
Yeah, we all know Australia follows pretty closely to the us markets.
SpikesGuns
Point of fact: The world is NOT pulling the rug out from under the US, the US did it to itself
Lardzor
Thanks Obama.
GorbrushThreekwood
joshuasplinth
He’s not fit to run a paragraph.
level5detentionblockAA23
Sarcastically “You sound like Jamie Dimon” - oh, you mean the ceo of the largest bank in the world (that isn’t part of the Chinese govt)…
LoudBirb
I mean, the dude kinda shattered his own credibility when he said the dollar is going to be replaced by gold. That's laughable quackery and not something Jamie Dimon has implied in any way.
The dollar might be replaced by a different fiat currency. There is a very real danger of that if Trump keeps up his current economic policies.
MichikoTheJungleFox
It's Joe Biden's fault. /s
7thor8thcaw
They will 100% blame Biden.
LittleLurker64
I went to an economics subreddit, and the general sentiment was that the dollar won't collapse. We might be making a big deal out of nothing
derpman4k
Yeah if you watch any business news for the past 15 years youll hear this same thing almost daily
The bond market is more worrying than the dollar collapse or the possible dollar replacement but its still the best global option. It may lose market share but that can shift
If you look at the dxy its been this low before, in 2028 and 2020, its more just the worry that the america brand is tarnished and not fixable... But its still the best investment out of all other big powers somehow
Dvsusnx
The general sentiment on Reddit can be manipulated by mods just hiding posts that they don't agree with. Just like the general sentiment on worldnews is that the ones committing the genocide are the real victims also it's not a genocide.
ChromePlatedEquator
Silver just crossed the $120/oz mark...I dumped mine at ~$90, but I predict this will end in a fabulous crash.
KingKrabvoldIV
Just dropped 25% today. Some people got fucked.
Heelcat70
Years ago I started trading silver. The price fell so much that there was talk of not considering it a precious metal anymore. Pretty typical of my investment history.
youreathing
Precious metals have always appreciated though. If you've been into them for a while, they'll continue to do so after the crash.
idiotsonfire
Gold and silver is a fucking scam. All these fuckers screeching about how gold is a good investment are insane.
Blackfinity
Fiat currencies backed by nothing are the real scam.
idiotsonfire
Fiat currencies are backed by other country's recognition of their value.
Subsound
Gold is generally a scam for retail investors and buyers, its why there are commercials for it all over Fox.
Since they cant scream "Obama gonna take your guns!" anymore
90kgprojectile
I bought gold and silver as a hedge against Trump. It has worked very well and protect and grown my wealth during that clowns second first year.
Subsound
Does that invalidate the large number of precious metal scams?
MatrimBloodyCauthon
Enough with the "We're screwed, we're fucked rhetoric" already. I've been pushing back on it for months. All it does is create apathy and get people out of the fight. Stop, and go find an activist organization to join.
Styxwash
There's a difference between a warning and being defeatist.
weave
Germany is possibly going to take back the €113 B of gold the US has been holding since the Cold War, with Italy likely to follow suit. Gold and silver are considered safe places to put money when the market is unreliable; that uptick in gold prices is a bad sign. Copper prices going down is also a bad sign, as it means industry is slowing down, but AI datacentres use a lot of copper, so it's just one industry that's causing the boost.
Themaxdu1
You think that they are going to give up the gold just someone asked?
Grimmrog
I really hope we do, can't trust the current US gouvernment at all.
19marcurious57
Several EU countries are considering the same, triggered by the erratic and unpredictable behavior of the Supreme TACO-in-Chief. Can't trust him. Uh-huh.
TheWombatStrikesAgain
We should. Everyone should. The US cannot be relied on to follow their obligations and treaties.
HeavenOrHellLetsRock
If it wasn't for AI, the US economy would already be much worse off. And because of AI it eventually will be even worse off than it would have been without it.
The US is a ticking time bomb for economic collapse at this point.
reurra
I w9nder whatever happened with musk looking intimidation Ft. Knox?
Deonan
https://www.abc.net.au/news/2026-01-27/donald-trump-triggers-a-gold-rush-as-investors-flee-us/106274200
Baaadie
Is there a point where so many people think of gold as a safe investment that it is no longer safe? I feel like the availability of the idea of gold as safe has been growing over time so at a certain point investments shifting to it could inflate it just as much as other investments. Does its physical existence really matter that much if the buying and selling has been financialized as much as any other investment?
HereticNoNumber
At least nobody is going to print more gold when the next plague hits.
LoudBirb
Gold has crashed multiple times, causing it to lose 50+ percent of its value. If you adjust for inflation, it is only just now reaching above its 1980 high.
The frequency of its big value crashes has increased, as well. Twice since 2010.
Fact is, gold is also volatile, and any banks that were to switch to it would face a whole new set of even worse problems than when they were backed by dollars.
DarthFutuza
No, there are plenty of other viable alternatives, such as stock in non-US based/dependent corporations, or other material goods. Just like all investments it is best to diversify, relying wholly upon gold is also a mistake, but I also don't really trust Schiff either, so I'm not sure gold is really that great of an idea either.
freshthrowaway1138
If the US economy collapses, the world economy collapses. We are all in an incestuous trade relationship, so no,it's not gonna stay inside our borders.
shalafi71
No shit! The world's largest economy going down, tied tight to the world's second largest, is going to be a global event.
MapleSyrupMafia
If it's what it takes for this admin to face consequences...
freshthrowaway1138
So how many deaths do you think is acceptable to ensure the admin faces consequences?
youreathing
Not necessarily. The rest of the world have been rapidly divesting from the US over the last couple of years. We don't need them as much.
freshthrowaway1138
"as much". Yeah, I recommend reading up on that because it's unlikely that it's more than a token amount. The USD is the reserve currency of the world.
youreathing
I'm not saying there won't be impacts. I'm just saying we *know* there will be, and we're trying our best to seek business elsewhere. I am reading up on it.
freshthrowaway1138
Yeah, I'm more talking about the scale of the issue. The amount of changes that have happened are tiny. The near future potential changes are a bit larger. But the amount of changes that are possible before the potential US economic collapse? Not enough to keep everyone from collapsing with us. Unfortunately. But keep up the good work and maybe things will get better.
Otomasoteraph
Still wondering how he bankrupted five casinos?
VindictiveBathToaster
Pure racism > racism (word of mouth) = no one going to his casinos due to racist owner and management.
LazyBrownFox
It's a tactic used by the rich to bankrupt, file Chapter 11 bankruptcy, keep running the casino, and cover up the taking of assets before the bankruptcy was filed. It's like eating all the cookies, then telling the government that there's no cookies, and government replaces the cookies. "They can AFFORD to make mistakes." Happens every year.
gronzilla
At least the casinos gave me the impression that the process would involve /some/ entertainment.
karlfrack
He's unfit to run a bingo game in a rest home.
chefsoda
Greed. Trump has never been a developer, he’s a debt financier, & even says so when he’s not doing a show. He bought into casinos in AC, had them appraised for vastly more than they were worth, borrowed as much debt as he could, then couldn’t pay it back. Had he been less greedy, he could have maintained balance, but that’s not his way.
TheWombatStrikesAgain
That's different though. That was his money. This time he's burning America's money while enriching himself and his cronies.
durg33
It was never his money, even with the casinos. It was always borrowed from banks, investors etc. or just outright stolen through scams (google Trump's scam charity for example).
Jewdakris
Wait until someone checks fort Knox
emu314159127001
He's a businessman, you know!
Stinkybuttpants
By robbing them, getting venture capital and bank loans, file chapter 11, don’t pay the contractors, pocket whatever is left.
thatwoodguy
You have to admit he's a mean big, it's promising to bankrupt the United states. Or make it so expensive to borrow money there that it's effectively is bankrupt
Lovingimpaler
They were for money laundering, the gambling was a cover story. When you launder money through a casino, you want to bankrupt them after a while, and burn the books. This guy doesn't just like one kind of book burning. That's my theory anyway.
FajitaPrinceofAllMexicans
I mean kind of? America is much like a casino. It's too big to run into the ground, but somehow managed to make all the worst business decisions to do it anyway.
PwnageHobo
I'm still wondering how people ever thought, let alone STILL THINK he is fit to run a country
DarthGoodguy
Because they heard him say he was a successful businessman, they saw him host a TV show, they listened to him spout oversimplified bullshit about scapegoats, and they didn’t want to question it for even a second.
4Astaroth
Or even any business.
75dmcnamara10
Sadly, Wall Street can’t get enough of him and stocks give him a good (albeit bogus) cover for the economy. Unless there is a crash, Muricans will continue thinking the “economy” is great even if stoacks are not the same as “the economy.” Sad to say Dear Americans but you really blew it in November 2024. That was your last chance to save your country and you screwed up
FrenziiTheSuccubus
I knew he was a laughing stock when I first read about him out of sheer boredom and the only "entertainment" was a celeb magazine. Back in, like. 2007..
NoCapForRealForReal
"He's already rich, he doesn't need money, and he's a great businessman. He doesn't need to be president, he just loves America"
If a Trump supporter isn't fundamentally evil, this is what they DEEPLY believe
Bobbutnotthatbob
Racism.
TheWombatStrikesAgain
They don't. They just hate most Americans. Him hurting them is all they expect of him.
Toqom
Fox news. We have corporate people straight lying to their users that trump is good at anything, which he isn't
DarkTheme439
Nope, already knew. This is not good.
Velorex
I really want to know what sort of fuckups you have to do; to bankrupt a scam.
CurbYourClassWar
Bankruptcy is a feature of the scam, not a bug. His whole grift usually is just not paying what he’s owed and hiding the assets in various shell companies and funds owned by his family members. Bankruptcy is the part that tells the Government the money is “missing” or never was made. People need to fucking wisen up. He knows what he’s doing. He’s great at conning and nobody stops him.
GCRust
He bankrupted them because it was nothing but a money laundering scheme. Or do you seriously think five casinos in Great Value Vegas were legitimately valued at $800 Million in 1990s money?
CurbYourClassWar
ElroydIsGone
I read they still had some real idea behind them: Make Atlantic City a new Las Vegas, but with nicer ocean front scenery instead of the dull desert and in driving distance to the large East Coast population centers.
It's just that they all went in really big time and calculated with phantasy growth rates, and when they didn't come, it all fell apart. Aside Trump's inability to actually run a business.
The money laundering came after that when he had become dead meat for real estate investors.
sharK11
all of Trump's properties in Atlantic City are shittier than the others that are there, including Harrah's, Borgata, and Golden Nugget which are all on the opposite side from the ocean. actually Golden Nugget was a trump casino and now it's like fifty times nicer without Trump
chefsoda
The big idea is the mask for all his “projects.” The goal is always the debt financing, with the potential for huge business growth a desirable possibility. Trump’s money came from the debt though, so he went much too far & couldn’t hope to pay it back
AWarningToOthers
The US also has $9.13 trillion in debt held by foreign governments that can cash them in a destroy our economy. Also countries were already moving from the dollar to the Euro and also starting other trade packs without the US. Because of trumps stupid and bullying policies other counties are done and moving on.
RacecarIsRacecarBackwards
Saddam Hussein announced he'd be switching from Dollar to Euro in 2003, just saying... https://www.theguardian.com/business/2003/feb/16/iraq.theeuro
wadatahmydamie
This is a subpar understanding about how public debt works. Don’t feel bad, most people get it wrong.
DianNaoChong
Well it would crash their economy too, that's how the system is designed
Will0099
This. The post WW2 dollar dominance is coming to an end.
anononanonanona
This is not even remotely how international debt works, stop spreading bullshit you have no clue about, you sound exactly like a typical libertarian
RooGryphon
I hope they do i really dump the bonds all of them America needs to see the full consequences of trump and his nonsense
Grimmrog
this is an aspect I truly wonder about, what if those countries do and the US doesn't pay?
KingKrabvoldIV
The comment you’re replying to is wrong. People cannot call in interest payments ahead of time. They can sell it to someone else, but you can’t ’call it in.’
As long as the government doesn’t default on debt people will get paid and buy treasuries. But with dickhead trump at the helm a default is higher. But we need adults when there are few in the room.
MelfsAcidArrow
What is that comic when the aliens are looking at earth wondering to whom earth owes debt?
78927x4No1
I think it was a video skit of podcast aliens talking on their spaceship.
MelfsAcidArrow
YES!
Adester
the debt is not held by foreign governments, but by foreign banks. Mainly in retirement funds and other financial products that bundle different investment methods for stability and security.
"Cashing in the debt" would mean that millions of people would willingly liquidate their assets, which in return would create a oversaturation on the market, which then would lead to massive losses. That will not happen.
cjandstuff
All it would take is a couple of banks doing this; those banks would be able to cash out without crashing everything.
However more banks would follow suit, hoping they can cash out before it all comes down. Then more banks would panic and do the same before they get left with nothing.
LicensedAdHominem
Of course it will happen. Someone stupid in a position they are not fit for will start the dominoes out of greed and without regard for the rest of the world.
Like always.
LordHosk
Its mostly held by CENTRAL banks... which are the equivalent of the US federal reserve. they aren't held by hundreds of thousands of German grandma's they are held by Deutsche Bundesbank which isn't technically under government control, but the two work like a hand in a glove, they move each other.
And European Central banks have started to liquidate their US reserves. The options are liquidate now, and lose some, or the US economy crashes and lose it all.
The US economy is not bulletproof.
avenlanzer
US treasury bonds are held by the governments
LordHosk
Governments and central banks.
yopick
Not all the world lives in the same stock market or bank.
There are different stock exchange/banks that are local all over the globe. They all have their own energy, utilities, realty, banks and tech companies to invest in.
The way you worded it it sounded like you thought there was a global stock exchange and that it was all in the US and in US bank etfs.
US treasury is getting sold off. China was striking deals with Canada. That should have rung an alarm bell.
Strategicgnomer
Around 3t I believe, is held by various governments, and Canada and Europe hold about half of that, China holding most of the other half. So here's what happens if Canada decides to collapse the American financial system. Carney tells Europe to sell, he and Europe start to sell, not all at once, but fast enough that the price jump makes markets panic, who then start selling their holdings, so they don't go underwater, and the effect snowballs.
Mxlespxles
"Too big to fail"?
Feel like I've heard that before...
AbeFromanSausageKingOfChicago
Yeah this whole “call in our debt” thing is very off base. Yes we have debt to other countries. They also have debt to us. Mostly bonds, etc and giving them up would mean giving up any interest while paying penalties and only destroying themselves.
The US dollar has been in jeopardy of losing its global status for a while. Mainly due to the soaring China economy. I think, though who the fuck knows, that part of Trump administration’s weak attempt at a trade war with China was to combat this.
crazyspelling
China's monetary policy is trash. We keep fighting with them about it because they shadow peg their currency to the dollar to make it look stronger than it likely is. I don't think the CCP could deal with a yuan that actually floated based on the Chinese economy. It's undeniable that they're growing a lot, but their reporting about it is unreliable. For years and years the kept reporting the same steady reliable growth rate, and it's just super unlikely. And most central banks know that.
shorey66
It might have to. Yes its going to hurt us but if that's what it takes to rein in trumps bullshit and stave off WW3. So be it.
It's high time for America to experience the find out phase and it has been for some time.
azimir
It doesn't have to happen all at once for the debt holders. They can just stop buying more US treasuries and start buying others. If the US can't borrow more money, it can't pay it's interest payments. At that point, debt holders will sell. The reason the major empires of the past (Spain 1600, UK 1950, USSR 1990) failed wasn't an invasion, but over extension of military, too much debt, and lack of internal productivity until the wealth moved away. The US is right on track for the empire collapse
andwings2go
Luckily we have a smart savvy president that / fuck I can’t even finish typing this sarcastically
LokJok
This is already happening.
halfabubbleoff
Most U.S. treasuries are 2 to 30 year bonds. like 85%.
So it would take a long time to let that debt expire and redirect to other investments.
As well, even the most recent auctions of federal debt are showing more money tendered than accepted. In other words, there is still significant demand for u.s. debt.
maybe future auctions will shift, we will have to see, but there are not as many options available.
https://www.treasurydirect.gov/instit/annceresult/press/preanre/2026/R_20260113_2.pdf
livingonagiantfireball
Gold
KingKrabvoldIV
You can’t cash in on treasuries prior to their payout date. Jesus you people have no idea how this works.
[deleted]
[deleted]
KingKrabvoldIV
This comment makes literally no sense. You can’t cash it since it won’t be accepted. It’s not a thing.
zHurk777
Denmark sold $100-M last week. One Sweedish pension fund sold $9-B last week. Yes, tiny amounts. But just examples of what's happening and tiny amounts compared to the total national debt. However, if more sell AND Stop Buying, then the US could face a problem.
KingKrabvoldIV
Literally irrelevant to my comment
pgdave
Well, no, but you *can* sell them, which (en masse) reduces their value just like any other security.
KingKrabvoldIV
Selling is a different activity with different consequences. It’s just an incorrect statement.
DrMcPoJo
I have no clue why you were downvoted when the other guy is simply wrong. You can't call in debt, it has a payment structure. The U.S. is in major trouble, but other countries being able to "call in debt" is bullshit.
LordHosk
You can also stop buying, and stop holding the ones you have that have matured.
KingKrabvoldIV
It could reduce their value if enough were sold in aggregate, just a drop in demand. That much is true.
But those sellers would be taking a massive loss to spite us. This could ironically would push rates up making their more attractive though.
pgdave
It might not be to spite us, it might be because the US government is riskier now than before, and the risk adjusted rate of return is no longer as attractive as it once was
KingKrabvoldIV
Until the US defaults on debt, which it hasn’t, this is just conjecture.
bingotown
The crash will probably come right after Democrats win big in the midterms, and the idiot voters will blame them and turn back to Repubs for the next general.
Rockafella83
HothAintHot
That's the plan. Rush through a bunch of plutocratic crap, get unpopular, poison the economy before the next election.
SomebodythatIusedtonope
Always as been
yopick
Both sides are not the same.
The dems do not come with a Steve miller.
That’s a type of racism that only comes in GOP flavour.
cleannicefrenchimgurian
hum.... FRANCE here. you still believe you'll have midterms???? dream on.
he will find a way to cancel these elections (well no him, cause he's stupid as his own feet (french saying)
his mignions are pushing honnest and decent people into violent answers to unspeakable acts. if this doen't work, he'll find another way to cancel and destroy democracy in the US.
anononanonanona
The president has no such power, stop repeating nonsense bullshit fearmongering rumors. Saying shit like this only demonstrates a total lack of understanding of elections in the USA. The states run them, not the federal government. The fed has some minor influence over certain standards but absolutely no power to stop elections.
anononanonanona
Mother fucker, we even held elections throughout our civil fucking war.
durg33
I think it's going to be a little more insidious. The US administration is asking various swing states for their voter records (at one point even bartering Minnesota for voter records to withdraw ICE), in a blatant attempt to disenfranchise possibly millions of probable Democrat voters. It's an absolutely crazy request since the federal government should have nothing to do with elections - they are organized by the state. See https://2cm.es/1nLvh ("Under Trump, ...")
cleannicefrenchimgurian
interesting, thanx
danmilligan60
Dead On. It’s the beginning of the End
DrasticBastard
Just remember, y’all owe us one. When the civil war breaks out I expect Europe to get involved and when it’s over I expect all the sycophants to be
ihadtocreateanaccountjusttocallyouanasshole
check the username and then go directly to hell. france doesn't owe us shit. we owe the existence of the entire country to france. without france we still pay taxes to the english. furthermore is is the problem of NO ONE ELSE IN THE WORLD beside the citizens of the united states to fix the shit we got ourselves into.
casualgenderquestion2718
There will be midterms, the question is about their legitimacy.
casualgenderquestion2718
To a foreigner, here’s the run-down:
America runs on first-past-post elections using committees that are elected by the voters. The ways to rig this are simple:
1) Pad your own votes
2) Steal your opponent’s votes
The normal way they do this is gerrymandering, which is a way of drawing electoral districts to exclude certain populations. Look up “Ohio electoral map 2015” and you’ll see what I mean.
The evidence also shows mail-in ballots skew Democratic, so if you’re a fascist, you want to
casualgenderquestion2718
undermine the mail-in voting system to legitimately throw out as many as possible. They’ve done this by changing the postal system — “postmarks” are the things to look for here, it’s a confirmation of mail’s receipt by the sorting facility. They changed the way that’s done so that the postmark is added at the end of the process, which can take days, so that they can throw out mail-in ballots on the auspices of “These weren’t received in time.”
casualgenderquestion2718
On top of this, the demographic that the fascists are losing the fastest are Hispanic and Latino voters (because of all the murder and kidnapping and stuff); this is where good old-fashioned voter intimidation comes in — you set up ICE at the polling places for locations you’re gonna lose due to the Latino population, and boom, suddenly only 1/4 of Latinos in the USA are voting anymore.