The Peter Schiff Show Podcast
Warsh won't say Trump lost in 2020, won't name one policy he disagrees with, and can't explain what 1% rates would do. This is our next Fed Chair. This episode is sponsored by InvestingPRO. Get 55% off + an EXTRA 15% off with my code PETERSCHIFF at checkout! Sign up: https://www.investing-referral.com/peterschiff/ This episode is also sponsored by Outskill. Bonuses worth $5100+ if you join and attend. Grab your free seat to the 2-Day AI Mastermind: https://link.outskill.com/PETERSCHIFFAP4 [https://link.outskill.com/PETERSCHIFFAP4] Donald Trump's Fed Chair nominee Kevin Warsh spent two hours dodging every meaningful question in his Senate confirmation hearing, and Peter Schiff watched the whole thing so you didn't have to. Warsh refused to say whether Trump lost the 2020 election, wouldn't name a single Trump policy he disagreed with, and couldn't answer the obvious question of what 1% interest rates would do to consumer prices — even though he'd already admitted inflation comes from government spending and money printing. Before breaking down the hearing, Schiff delivers a history of the Federal Reserve that most economics PhDs have never learned: why the Fed was created as a private bank to issue superior banknotes backed by 40% gold, how the original act prohibited the Fed from owning treasuries, and how World War I opened the door to everything wrong with monetary policy today. He also takes aim at MicroStrategy's Strategy preferred stock as a textbook Ponzi scheme — Saylor can only pay the 11.5% yield by selling new shares, and the fine print lets him stop paying whenever he wants. Chapters: 00:00 Cold Open and Intro 00:57 Warsh Nomination Stakes 02:34 InvestingPro Sponsor Demo 07:32 Why Fed History Matters 08:08 Before the Fed Era 11:12 Fed Independence and Constitution 14:00 Superior Banknotes Explained 17:40 Outskill Sponsor Break 21:47 Elastic Money Supply Myth 25:49 War Finance and Treasuries 32:16 Hearing Reactions Begin 33:05 Trump Spending And Inflation 34:02 Warren Attacks And Rate Cuts 35:17 Warsh Denies Being Puppet 36:34 Fed Praise And Wealth 38:16 Price Stability Redefined 41:15 Dodging Trump Questions 43:45 One Percent Rates And QE 46:06 Inflation Tax And Deficits 47:00 Fed Chair And The Dollar 49:54 No CBDC Crypto Pandering 50:46 MicroStrategy Ponzi Rant 54:20 Lawyer Evasions And Politics 57:34 Warsh Verdict And Gold Pitch 01:02:11 Final Wrap And Signoff Follow @peterschiff X: https://twitter.com/peterschiff Instagram: https://instagram.com/peterschiff TikTok: https://tiktok.com/@peterschiffofficial Facebook: https://facebook.com/peterschiff Free Reports & Market Updates: https://www.europac.com Book Store: https://schiffradio.com/books Sign up for Peter's most valuable insights at https://schiffsovereign.com Schiff Gold News: https://www.schiffgold.com/news #PeterSchiffShow #FedChair #KevinWarsh Privacy & Opt-Out: https://redcircle.com/privacy [https://redcircle.com/privacy]
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