Wall Street is pushing toward record highs, but the bond market is flashing a severe warning. Peter Schiff, CEO and Chief Global Strategist of Euro Pacific Asset Management, joins Jeremy Szafron, Senior Anchor of Kitco News, to break down the massive disconnect between equities and the 30-year Treasury.
Following the swearing-in of new Federal Reserve Chair Kevin Warsh and recent warnings from Bill Dudley, Schiff argues that "hawks are extinct" at the central bank and the 2% inflation target is now a pipe dream. Schiff details his timeline for a sovereign debt crisis, warning that the U.S. national debt will hit $50 trillion before the end of the presidential term, and explains why inflation could be worse under a second Trump administration than under Biden.
Schiff also provides a critical update for physical metals investors. He breaks down why silver's recent run to $125 was just the first stop, where the AI tech bubble wealth will actually go when it evaporates into "money heaven," and shares an exclusive update on the future of tokenized gold (tGold) as a medium of exchange.
Recorded May 26 2026
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Timestamps:
00:00 MARKETS DIVERGE
00:53 BOND MARKET WARNING
02:18 REAL RATES & GOLD
02:56 DEBT MANAGEMENT STRESS
04:06 FED CREDIBILITY TEST
06:10 INFLATION UNDER TRUMP
07:51 CENTRAL BANKS BUY GOLD
09:26 NO SOFT LANDING
12:20 WAR, OIL & YIELDS
13:11 FISCAL RESPONSIBILITY DEAD
15:55 SILVER BREAKOUT
17:55 RETAIL DEMAND RETURNS
21:19 BUYING THE PULLBACK
24:32 AI "MONEY HEAVEN"
26:00 AI BUBBLE FALLOUT
26:38 MINERS BUBBLE NEXT
27:43 M&A WAVE BEGINS
28:50 WHY JUNIORS WIN
30:33 VALUATIONS STILL CHEAP
32:00 IS IT TOO LATE?
33:39 PRICE CONTROLS PLAYBOOK
36:03 CAPITAL CONTROLS RISK
38:10 ENDGAME SIGNALS
41:00 PORTFOLIO ALLOCATION
43:09 GOLD AS CASH
45:01 TOKENIZED GOLD (tGOLD)
47:15 GRESHAM'S LAW & BITCOIN
#PeterSchiff #USDebt #Silver #Gold #FederalReserve #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.
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.
