Gold is exploding to new record highs as global markets face escalating volatility, a collapsing U.S. dollar, and rising fears that the traditional safe-haven playbook no longer applies. Spot gold has surged past $3,250 an ounce, with mining stocks finally catching a bid. Meanwhile, Treasury yields are spiking despite deteriorating economic data — pointing to a breakdown in the flight-to-safety narrative.
In this exclusive interview, Peter Schiff, Chief Market Strategist at Euro Pacific Asset Management, joins Jeremy Szafron, Anchor at Kitco News, to break down the perfect storm hitting the U.S. economy. Schiff explains why America is headed for a deeper crisis than 2008, how global capital is fleeing U.S. assets, and why he believes the gold bull market is just getting started. Schiff also takes on Bitcoin, stagflation, and the collapse of the dollar’s reserve status.
Key Topics:
– Why Schiff says “America’s ride on the global gravy train is over”
– How Trump’s 145% China tariffs triggered a capital flight
– Why spot gold is breaking out — and where it’s headed next
– Why gold mining stocks are “the buy of the century”
– What surging inflation expectations say about Fed policy failure
– Why Schiff says the U.S. Treasury market is cracking
– How global central banks are dumping dollars for gold
– The growing movement toward gold repatriation
– Schiff on Bitcoin: “It’s down 30% in gold terms since 2021”
Follow Jeremy Szafron on X: @JeremySzafron (
Follow Kitco News on X: @KitcoNewsNOW (
Follow Peter Schiff on X: @PeterSchiff (
00:00 Introduction and Market Overview
01:00 Interview with Peter Schiff
04:41 Gold Market Analysis and Predictions
12:59 Impact of Tariffs and Stagflation Concerns
17:42 Fed’s Dilemma: Rate Hikes and Market Reactions
18:19 Gold as an Economic Indicator
19:07 Impending Financial Crisis and Global Impact
20:06 US Sovereign Debt and Global Confidence
20:46 Global Economic Liberation from US Dependency
21:32 Long-term Shift to Gold
22:38 Historical Perspective on Gold and the Dollar
25:06 Repatriation of Gold Reserves
26:02 Investment Opportunities Beyond Gold
29:43 Bitcoin vs. Gold
31:10 Future Economic Outlook: Stagflation and Beyond
33:07 Conclusion
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Disclaimer:
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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33 Comments
Peter Schiff says “this is going to be a financial crisis much worse than 2008” and warns that stagflation in the U.S. will be far worse than the 1970s. Do you agree with his outlook?
Drop your thoughts below – will gold keep surging? Is the dollar in long-term decline? Let’s discuss.
Thanks for having someone on who speaks the truth about the fed and our economy.
Market at all time highs schiff is wrong
Two old
We are screwed 😢
Wrong American people consume over 60%of world's goods. I agree with President Trump's Tariffs. Time to bring back Manufacturing to America 🙂
Every crash/collapse/inflation/recession provides an equal market opportunity if you are properly prepared and knowledgeable. I've seen people amass up to $800,000 during crises and even with ease in a bad economy. Someone has undoubtedly become extremely wealthy as a result of the crash.
What is he talking about, 80% of the population is barely able to afford anything. Overconsumption? Most people cannot afford to buy anything.
Shiff says "ANYBODY can consume" yeah tell that to the Chinese population who REFUSE to spend their hard earned Yuan…..It really pisses off the Chinese leaders who would love to have more of an American style of consumerism at home….hey NOBODY spends on CRAP like Americans do! American consumers are an utter GOLDMINE the Chinese are totally addicted to! LOL good luck replacing US no matter how bad they want to fight Trump ….which for the record I think Donny is a MORON
Peter Schiff… the eternally broken clock will eventually be right for once
Most corrupted government people have hooked their wagons to social media for the big bucks.
Bitcoin and some cryptos have gone up 500% whilst gold has gone up 100%
How old is this video?😂
Peter Schiff is too noisy. His voice is cracking while he loudly speaks. Does he not realize that the volume of his voice is annoyingly high? Peter Schiff, please calm down and talk in a calm manner, please.
No more loans for americans. Suffer.
You cannot replace dollars with gold. Not enough gold. They will make a deal by paying off the loans at a smaller amount and they will not be allowed to borrow. Suffer. They will have all this money to pay of their debts. This guy is an illusionist.
The stock market is the place for all the billionaires to hide their money and hope for earnings so they do not have to work.
Americans are spending more than they produce or earn. Maybe by less and pay of their debts. Buy gold to do that? Cry me a river.
Yep, the big one is comin' the big one is here, worse than anything blah blah! I don't believe any of this, and all I see going on now is business as usual.
Artificially created by a real estate tycoon for his own benefit!
Its no mistake
Not hearing Peter talking about African gold
The market is fine
Wonder what hes selling? 😂
Good luck sitting shotgun over your pile of precious metals, and trying to buy with it at the local stores and farm markets. Word gets around in a hungry society.
Peter Shiff, the King of wrong calls. Don't buy physical Gold??? Buy Gold stocks instead. Ridiculous! If you don't hold it, you don't own it! Don't listen to this 🤡. Buy physical gold if you have the money. Buy Silver if you're broke. Start a garden, learn how to grow your own food. Find community and get ready for economic kaos. Precious metals, gold silver and lead.
😭😭😭😭🎪🤡🤡🤡🤡🌏‼️🙏🙏🙏✌️
Though I respect many of the views of Peter Schiff I am seriously baffled by the level of "economic naivete" in his thinking.. "A US Great Depression which will be a boom for the rest of the world.."!!! Am I missing something? In what fantasy / fairy world? Is that Schiff's (lame) way of "reassuring" current and future investors to keep investing in his Funds as with everything "diversification is king" and hey just because the US enters into a GREAT DEPRESSION but the REST OF THE WORLD will be ROLLERCOASTING nothing to worry about.. diversification will do its job 🎉
Idiots !!!!!
just gave Peter 100k. Fingers crossed.
Tired of seeing Schiff.
Ban China Locust 🇺🇸
Kitco sells gold. This is an ad.
Wow this guy must be a democrat he hates the US, just leave dude.