Washington could default at 50 cents on the dollar, and gold is the only hedge against Treasuries, Peter Schiff tells Kitco News anchor Jeremy Szafron.
Schiff, host of The Peter Schiff Show, says the 40-year bull market in bonds is over and rates could rise faster than they fell. He sees 9% mortgage rates possible by the first quarter of next year and a 30 to 50% drop in home prices nationwide, which he calls a bigger bubble than 2008.
He explains the “fourth quadrant” of high debt and high interest rates, why he sees the way out as massive inflation or a restructuring, and why he calls rising bond yields “the most bullish thing that could happen to gold and silver.” He also says why he holds a lot more of his own money in mining stocks than physical bullion, what a retiree living on Social Security and CDs should do now, and the one long shot that could save the debt.
This interview was recorded on October 7, 2026.
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Chapters
00:00 Central Banks Keep Buying Gold, What Do They See?
00:48 Nobody Is Big Enough to Bail Out the US Government
02:47 Bonds Are 6 Years Into a 20-Year Bear Market
03:40 9% Mortgages and a 30 to 50% Drop in Home Prices
05:43 The Four Debt Quadrants and Why the Fourth Is Dangerous
10:04 Massive Inflation or a Default at 50 Cents on the Dollar
12:50 Bondholders Have Already Lost Half
13:58 Who’s Holding the Bonds: Banks, Insurers and the Fed
15:49 Sell the Bonds, Buy Gold
19:21 The Social Security Time Bomb
24:20 The 70-Year-Old Saver: Buy Next Year’s Groceries Now
26:09 Operation Twist Now, Money Printing Next
29:57 Big Tech Is Now Competing With Washington to Borrow
32:59 The Dollar’s Strength Is an Illusion
34:55 Rising Yields Are the Most Bullish Thing for Gold
37:26 When the Gold Sellers Run Out
39:20 Why Russia Is Selling Its Gold
40:26 How Weaponizing the Dollar Backfired
42:05 Gold Back to $5,000, Faster Than Last Time?
43:11 Buy Bullion, Skip the Collectibles
44:12 Where Schiff Keeps His Own Money
45:37 Where the Real Upside Is in Mining Stocks
47:10 Silver’s Breakout Is Bigger Than People Realize
47:50 Does It Matter Where the Mine Is?
49:05 Where to Store Your Gold
51:58 Why Schiff Expects Tax Hikes on the Wealthy
53:32 The One Thing That Could Save the Debt
55:50 The Biggest Threat to Your Retirement
57:40 His Fix: A Real 50 Cents Beats a Dollar Worth 20 Cents
59:15 Why Revaluing America’s Gold Wouldn’t Help
#PeterSchiff #Gold #KitcoNews
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The videos are not intended to provide trading advice, and the views expressed do not necessarily reflect those of Kitco Metals Inc. Kitco News, its anchors, producers, and reporters are not responsible in any way for the performance or actions of any sponsor, advertiser or affiliate of Kitco News. In no event will Kitco and its employees be held liable for any indirect, special, incidental, or consequential damages arising out of the use of the content in this video.
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22 Comments
Peter Schiff says he keeps a lot more of his own money in mining stocks than in physical bullion (44:12), and that rising bond yields are "the most bullish thing that could happen to gold and silver."
Where's your money right now: physical metal or mining stocks?
Peter needs to be updated on the fact the USA is mass importing visa j33ts and they have more money than your average American, often live two families in one house and are buying up houses on the East Coast regardless of the rate. They are not long term financially savvy people, they literally just pay whatever and don't care.
Its refreshing to hear someone rightfully say both parties caused these issues – people take sides too often. They both have big problems.
If I thought I got screwed over, I feel especially bad for my kids – but tough times makes tough men and women, so theyre better off in a way. I hate this system though, its so tough for me and my family and most of my friends.
Excellent Peter's analysis
I paid into Social Security my whole working life and didn't even take the beneifits until I was 70. I supported the generation(s) ahead of me. IL don't agree with Peter Schiff when he says do away with the whole thing. Thats convoluted logic. If you don't need your Peter then just give it back to the fund. Leave everyone else alone.
Your. Bitcoin will not save you
Rain cynicism down on me, and the truth the media refuses to tell, and I will love you for it Peter!
how about trying to collect more taxes from the corporations instead of taxing the hell out of workers!
9% rates will cause the housing market to go into a fire sale.
Republican sweep on Election Day.
Bitcoin will make Peter shit look like a complete fool. Like he actually is, it will overtake gold. It might be 4 or 5 years, but watch the market cap of both assets
Thanks to the current administration. This debt will be saved by Elon Musk who is covertly working in the background. It’s just a matter of time.
LOVE THIS MAN…
USURY MADE IT POSSIBLE…….
Well, I disagree out of love recessions 10 have been under Republican leadership. We have ran up more debt under this administration and ever before. We’re destroying government property gutting essential departments, ridiculous wasteful spending giving Argentina $20 billion and the big beautiful Bill is going to knock 10 million people off Medicaid. There is bad and then there is evil pick less evil.
Does Peter own any Bitcoin 😅
If we do that we will be eating rotten food.😂😂😂😂😂
Lots of sales by sovereigns needing cash now,
Unemployed and kicking back? He is out of touch.
Bitcoin to 1 mlion .
Only a matter of when.
Another Doom and Gloom from this Guy ,at some point yeah he'll be right ,but he's been predicting this for decades and eventually the odds are in favour of a massive crash , he's still kicking himself for not buying Bitcoin at $1