Kevin Warsh Can't Answer a Single Question - Next Fed Chair?

Summary

The Peter Schiff Show Podcast
Episode: Kevin Warsh Can't Answer a Single Question – Next Fed Chair?
Date: April 22, 2026
Host: Peter Schiff

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Overview

This episode is dedicated almost entirely to Peter Schiff's analysis and reaction to the Senate testimony of Kevin Warsh—Donald Trump's nominee for Federal Reserve Chair. Schiff uses the hearings as an opportunity to explore the origins and functions of the Federal Reserve, critique the political theater surrounding the nomination, dissect Warsh’s testimony, and share his deep skepticism of both the Fed and current political narratives on inflation and economic policy.

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Key Discussion Points

1. Background on the Federal Reserve

[07:36–19:53]

• Origins and Purpose:
  Schiff gives an extended history lesson, noting that the Fed is America’s third central bank and arguing that central banking has historically led to problems (§08:08):

  "It's the third. And it should have been three strikes, you're out. Because this is the worst of the three.” – Peter Schiff [08:24]

  • For 80 years following the closure of the second central bank, Schiff contends America had its greatest economic run, attributing this to the lack of a central bank and the gold standard.

• Legal Structure:
  Schiff emphasizes the Fed was designed as a private, independent entity, not part of the government, and says there’s no Constitutional authority for a government central bank [11:04].

• Original Mandates:

  • Superior banknote: Fed notes were supposed to be of superior quality to private banknotes (fully backed by commercial notes + 40% gold).
  • Elastic money supply: The money supply was originally meant to expand and contract with economic activity—but today only expands [22:59].

  “What do we do today? Do we have an elastic money supply that expands and contracts? No, it only expands.” – Peter Schiff [22:59]

2. How the Fed Has Changed

[23:59–27:44]

• Deviation from Original Mandate:
  Schiff argues the Fed now stimulates the economy in recession by expanding the money supply—the opposite of its intended function.
• Financing Government Debt:
  Originally, the Fed was prohibited from owning US government debt, but this changed during WWI via legal amendments, opening the door to funding deficits and the rise of the debt ceiling [27:44]:

  "Never give the government an inch cuz it will take a mile." – Peter Schiff [24:01]

  • Schiff connects these historical changes to the unchecked expansion of government and inflationary policy.

3. Warsh’s Senate Testimony: Analysis & Critique

[32:00–68:21]

The Theater of Confirmation

• Schiff describes the hearings as highly politicized, with Republicans blaming Biden for inflation (ignoring Trump-era deficits) and Democrats attacking Warsh for being a potential Trump "sock puppet" [32:00–38:49].
• Notable hypocrisy called out:

  "It's not like Democratic spending causes inflation, but Republican spending doesn't. It's the same thing.” – Peter Schiff [33:29]

Warsh's Responses & Deflections

• Independence Questioned:
  Warsh dodges all direct criticisms of Trump or statements that could create distance from Trump—he won’t say Trump lost in 2020, won’t name Trump policies he disagrees with, and won’t challenge the contradiction between claiming a booming economy but seeking ultra-low interest rates [46:34–48:38].

  “He was like, well you certified it. He wouldn't answer the question… He just sidestepped it.” – Peter Schiff [46:34]

• Waffle on Economic Policy:
  Warsh refuses to discuss the effect of Trump’s desired 1% interest rates on consumer prices:

  “He refused to answer the question. It's obvious the impact. He already stated it... He can't even, he's like, well, I don't know, I mean, you can't ask me a hypothetical... So again, he doesn't want to criticize anything that Donald Trump says.” – Peter Schiff [48:50]

• Crypto Stance:
  The only clear policy Warsh firmly opposes: central bank digital currency (CBDC). Schiff suggests Warsh is pandering to the crypto lobby [55:14]:

  “The one group that he was willing to pander to was crypto. Where he did give a straight answer was when he said...under no circumstances under my watch will we ever have a central bank digital currency.” – Peter Schiff [55:16]

Schiff’s Critiques of the Fed and Warsh

• Price Stability Mandate:
  Warsh claims his own definition of “price stability” is "prices that don’t go up by enough to get anybody to talk about it” [38:49–39:17]. Schiff lambasts this:

  “Stable is the word. If something goes up every year, you don’t have stability. Prices are not stable. If they always go up, you just have rising prices.” – Peter Schiff [39:21]

• Fed Chairman and the Dollar:
  Schiff berates Warsh for refusing to comment on the value of the dollar, claiming he’ll defer to the Treasury Secretary:

  “It is complete ridiculous. But this is what happened. Because they don’t want him to talk about it, because they want the Secretary of Treasury ... to just say, we believe in a strong dollar, we have a strong dollar policy. Well, without the Fed, you have no strong dollar.” – Peter Schiff [54:04]

• General Assessment:
  Schiff judges Warsh “not the worst chair pick” but expects more of the same policies: low rates, money printing, and inflation—bad for the dollar, but bullish for gold [65:54–66:20]:

  "He's probably not as bad as Yellen, he's probably not as bad as Bernanke, and maybe he's not as bad as Powell, but not as bad as really bad Fed chairman doesn't mean he's going to be a good Fed chairman. I wouldn't expect that at all. What I would expect from Kevin Walsh is more of the same. More reckless money printing, quantitative easing, artificially low interest rates. That's it." – Peter Schiff [66:13]

• Notable Quotes and Moments:

  • “Had somebody proposed back in 1913 the current Federal Reserve, it never would have been enacted. Nobody would have been dumb enough to buy it.” [10:52]
  • On the hypocrisy of party politics and inflation blame games:
    “That pisses me off right when I hear that.” [33:29]
  • On the lack of intellectual rigor by policymakers:
    “He can't talk about the purchasing power of Federal Reserve notes. Somehow he's handcuffed... Where the hell is that written?” [54:11]

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Other Memorable Segments

Schiff’s Advice for Listeners

[67:50–69:26]

• He plugs buying gold and silver as a hedge against coming inflation and weak dollar policy.
• Recommends his new Shift Gold App.

Side Critique: MicroStrategy and Crypto

[56:41–59:21]

• Schiff briefly digresses to accuse Michael Saylor’s Stretch/MicroStrategy of running a Ponzi scheme in crypto, warning of imminent lawsuits when the bubble pops.

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Timestamps of Key Segments

• [07:36] – Background and origins of the Federal Reserve
• [23:59] – How and why the Fed now operates contrary to its original purpose
• [32:00] – Analysis of the Warsh confirmation theater and political blame games
• [38:49] – Schiff’s takedown of the “price stability” mandate and its modern distortion
• [46:34] – Warsh dodges direct questions about Trump, policy, and Fed independence
• [48:50] – Refusal to address the impact of ultra-low rates
• [55:16] – Warsh’s firm stance against a central bank digital currency
• [65:54] – Final assessment: more of the same Fed policy under Warsh

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Conclusion & Takeaways

• Schiff is deeply skeptical of Kevin Warsh as a Fed chair, calling him evasive, uncritical of Trump, and an institutionalist who “loves” the Fed—a major negative for Schiff.
• The episode exposes the political theater behind monetary policy and nominations, with neither party clean on the issue of inflationary deficit spending.
• Schiff's broader message: current Fed policies are deeply flawed, and Americans should protect themselves by embracing hard assets like gold and silver.
• Final word:

  “What I would expect from Kevin Walsh is more of the same. More reckless money printing, quantitative easing, artificially low interest rates. ... That's bearish for the dollar, that's bullish for gold.” – Peter Schiff [66:13]

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For New Listeners

This episode serves not only as a critique of Warsh and the Fed, but as a crash course on why Schiff believes sound money, limited government, and skepticism of banking orthodoxy are essential for economic health. Even listeners unfamiliar with the prior episodes or the nuances of Fed policy will find this a comprehensive, opinionated tour of key monetary debates in 2026 America.

Transcript

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The Peter Ship Show. This is Peter Schiff here at the Peter Schiff Show Podcast. It is another live episode about 9:30 in the evening here in Puerto Rico. Today's podcast I'm going to talk almost exclusively, but probably not exclusively about the Federal Reserve. And the reason for that is I watched for a couple hours earlier today the Senate testimony of Kevin Warsh, who is Donald Trump's nominee to become the next Fed chair. And obviously there's a lot of attention being placed on this nomination because a lot of people believe that Trump is putting a yes man, a puppet into the Fed who is going to operate basically with Trump pulling the strings. Because we saw how critical Trump was of the current chair, Powell, and still is, and how he trying to fire Lisa Cook. He's trying to stack the Fed because he believes he's smarter than the other members of the FOMC and the chairman, that he knows better where interest rates should be. He wants interest rates much lower. And so he wants a Federal Reserve that shares his outlook and wants to lower wage. So I think there's probably more attention being focused on this particular nomination and confirmation than probably of any Fed chair in recent memory. But before I get into that, I wanted to take an opportunity to introduce you again to one of the newest sponsors that I have here on the Peter Schiff show podcast and that is investing.com and they just recently became a sponsor. I think this is the second time I'm mentioning them on the program. And I've been using Investing Pro, the free version on my own. I really didn't even know they had a premium version. I was using the free version. And in fact, it's up on my screen right now. You can check it out. These are live futures quotes. And I was always, whenever I do this podcast, I would have investing.com on my screen so I could see what's going on. And here you can see S and P futures are up about a half a percent. You got the Dow futures up, top up almost as much. The NASDAQ 100 futures there, they're up almost 70 basis points. And the S and P small cap Russell 2000, that's up 80 basis points. So you can see all that. And you can also get information on a lot of major foreign markets. So that's mainly what I was using it for. But now they have something called Investing Pro. And so I've opened up an account there. This is their premium service. But they have a lot of very valuable information that's available here. Like, I set up a watch list. You can set up multiple watch lists, like, say, I got one for inflation, I got even one for crypto. But this one is a portfolio. It's kind of my portfolio. So it has a lot of stocks that I own myself. And, you know, a lot of these stocks, of course, are owned by our clients in our managed accounts, in our mutual funds. You, for example, here, Tencent Holdings Number 700 in Hong Kong, right? It gives you the price here, how much it's up. Hong Kong is trading right now. It's live, right? The market's open, so you're getting live quotes. But if you click on the stock, you get a lot of information about Tencent. I mean, tremendous amount. And you can get news on the company, get information on the dividends, the

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You want to get the premium version because there's a hell of a lot of value for not a lot of money. Anyway, let me get right into the podcast. So before I start talking about my

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reaction to Wash and his testimony, I

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wanna give everybody a little background on the Fed. Now, I know I've spoken about this in the past, but, you know, I get it.

[Peter Schiff]

You know, the audience grows. Not everybody was listening a couple years ago when I might have, you know, explained it. And so I'm gonna do it again.

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So it may be repetitive, just in case you heard the explanation before.

[Peter Schiff]

But a lot of people don't know

[Peter Schiff (Co-host or secondary voice)]

anything about the origin of the Fed.

[Peter Schiff]

I mean, maybe they think we always had a Federal Reserve, which we did not.

[Peter Schiff (Co-host or secondary voice)]

The Federal Reserve act was passed in 1913. So prior to 1913, there was no Federal Reserve. Now, it wasn't that there were no central banks. There actually were. The Federal Reserve is not even the first central bank we had.

[Peter Schiff]

It's the third. And it should have been three strikes, you're out.

[Peter Schiff (Co-host or secondary voice)]

Because this is the worst of the three. And it's also been around the longest, which is the biggest problem. This central bank has been around for

[Peter Schiff]

more than 100 years.

[Peter Schiff (Co-host or secondary voice)]

The first two only lasted about 20 years each. Unfortunately, the Fed has been around for more than five times as long. That's the problem. But the first central bank we had, I think started around 1791 ish, something like that.

[Peter Schiff]

I don't know.

[Peter Schiff (Co-host or secondary voice)]

Can't. I think. And it lasted about 20 years.

[Peter Schiff]

That's it.

[Peter Schiff (Co-host or secondary voice)]

Then they charted another one, the second bank. A lot more people are familiar with that one. That one lasted about 20 years, but that one was ended by Andrew Jackson. And that was the best thing that he did as president, was kill the second central bank of the United States. Then it was about 80 years between the second central bank and the Fed, the third central bank. And those were probably the best 80 years we had as a country. I mean, not counting the Civil War. So the Civil War was probably the worst four or five years we've had.

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[Peter Schiff (Co-host or secondary voice)]

We were having a war with each other. But after the Civil War ended, 1865, we didn't have a Fed, and we didn't have a fed until 1913, just before the First World War. But for all those years, the country had no central bank at all. And that's when we had the greatest economy. Even Donald Trump talks about how great our economy was in the 1880s, 1890s, 1900. One of the reasons it was great was because we didn't have a central bank. We had sound money. We were on the gold standard and we had the Industrial Revolution. We had this huge economic boom, the Gilded Age, all this great stuff, all the immigrants that were pouring into the country, they came in when there was no central bank.

[Peter Schiff]

We would be better off without a central bank. Now, why, after 80 years of economic success, did they resurrect the central bank for the third time?

[Peter Schiff (Co-host or secondary voice)]

Because the reasons that they gave have nothing to do with the Federal Reserve we got now.

[Peter Schiff]

In fact, had somebody proposed back in 1913, the current federal Reserve, it never

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would have been enacted.

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Nobody would have been dumb enough to buy it.

[Peter Schiff]

So what was the goal of the Federal Reserve? Well, there was a. I think there were two or three main objectives, but one was to provide a superior bank currency because, number one, the Federal Reserve was independent. It wasn't part of the government. It wasn't just independent like today. I'm just jumping ahead of myself. But War said that, yes, the Fed is independent from government, but it's not independent of government or something like that, that it was part of the government. It's not supposed to be part of the government. That was the design.

[Peter Schiff (Co-host or secondary voice)]

And what are the ways you know this.

[Peter Schiff]

If you get a letter from the Federal Reserve, it's got a stamp on it. If you get a letter from any government agency, there are no stamps because they get it Franked through the post office. See if the government sends mail, they don't have to buy a stamp because they own the post office. So they just send it. But the Federal Reserve has to actually buy stamps from the government. Why? Because it's not part of the government. It's a private banking syndicate. And the reason it's private is because there's no constitutional authorization for it to be part of the government. Cuz if you, if you read the Constitution, you don't have to understand it. If you read it. The US government is not authorized to print money, issue bills of credit. That's paper money. The states are denied the power to do it and the federal government is not authorized to do it. All the federal government is authorized to do is coin money. That's not the same as admit bills of credit. The states The Constitutional Article 1 Section 10 says no state shall coin money or emit bills of credit. And the only thing article 1 section 8 lets the federal government do is coin money. They're not given the authority to emit bills of credit. And again, if you understand the Constitution, you read the 10th amendment. The powers are denied to the states and given to the federal government. So the states can do anything that they're not prohibited from doing. And the federal government can only do those things that it is specifically authorized to do. And so the federal government is not authorized to coin money, so is not authorized to print money, so it can't do it. It could take money and put it into a coin. Well, what's money? Well the only thing that can be money is gold and silver. Because the Constitution says that no state shall make anything but gold and silver legal tender for payment of debt. And the federal government is not given the authority to make anything legal tender, so it doesn't have it. So it set up an independent bank to do things that the US Government cannot do on its own. So number one, that's why the Federal Reserve is independent. But one of the main goals was to create a superior banknote to the private banknotes that were already in circulation at the time. You see, even though we were on a gold standard, banks, private banks all over the country issued note currency backed by gold. But the problem was what if I had a note from a bank in Boston and I went out to California and I tried to spend it. How does somebody in California know it's real? He might not know what banks are in Boston. Maybe it's counterfeit. There was a lot of questions. It was hard, you know, if you took the note far away from where it was issued. Because, you know, we didn't have these big banks that had branches all over the country. And you didn't even have a telephone, you know, you couldn't validate. I mean, I think we guess they had the telegraph at that time. But you know, it wasn't as easy to validate if a check was any good or a note, not even a check, a bank note. Right. An IOU from a bank. And some of them had dubious quality. You didn't know how much gold actually backed it up. Right. Who the hell knew? So the idea was to create a Federal Reserve note, a private bank. And the Federal Reserve note would rediscount the notes of other banks. So what would happen is if you had a note from a bank in Boston, instead of taking that note out to California, you would take that note to the Federal Reserve. You would give it to them and they would substitute their own note. They'd give you a Federal Reserve note. They would take that note and give you a Federal Reserve note. Now what the Federal Reserve was required to have backing its note was that note plus 40% gold. So the Federal Reserve had to back each one of its notes with the note of another bank plus have 40% gold backing it up. Now you take that note, that Federal Reserve note to California and now the California bank recognizes, not the bank, whoever you give it to. Yeah, that's the Federal Reserve note. That's the bank of the United States. That's our central bank. I recognize that. I'll take that note. And it was supposed to be of higher quality than other notes that didn't have 40% gold backing. Maybe they had 30% or 20%. But of course the IOU was 100% redeemable in gold. You could always get gold. So if you had a note for $100, you could get 5 ounces of gold. Cuz gold was $20 an ounce. So we were always on the gold standard. All the Federal Reserve notes were redeemable in lawful money gold. But in order to issue the Federal Reserve note, they had to be 100% back by another form of commercial paper. A note from another bank and 40% gold. High quality notes. What does the Federal Reserve note back by now? Nothing. It's got lower quality than any of the notes that were in circulation prior to 1913. So instead of a superior note, it's a lousy note. Now

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[Peter Schiff]

All right, so I am discussing the origins of the Federal Reserve and you know there's probably not that many people in this country who know what I'm telling you right now. I mean, there are people who probably have masters or PhDs in economics and finance that never learn this stuff. I don't think they even teach this at the university level. I don't think university professors know this. The only reason I know it is because my father told me. Otherwise I probably wouldn't know it either. So now you guys know it because I'm telling you, right? Because this history is completely lost. Because they probably don't want. Anybody to Know why we have a Fed, right? They just want people, this is how it's supposed to be superior to the note currencies that were in the Federal Reserve. And again, this was a private bank, but it was a nationally chartered bank that would be more recognizable. And what if there was some fake bank that came up and just set up shop and you had a note? How would you know? Right back then? So it wasn't a bad idea. In theory, it wasn't a bad idea. The problem is, in practice, it's the camel's nose under the tent that is the problem. The government will abuse every power it gets. Even though it wasn't the government. The government had charted the central bank. The minute you had one, it was ripe for abuse. And that's exactly what happened anyway. So the other reason that they wanted to have a central bank was to provide for an elastic money supply. Elastic money supply. Now what does that mean? Well, elastic, it's like a rubber band, right? You could stretch it and then contract. It expands and contracts. Elastic money supply. The idea behind the concept of an elastic money supply was a money supply that expanded and contracted with the business cycle. So when the economy was growing and there was more need for credit, the Fed could inject more credit into the economy as it was expanding. And then if the economy turned down and was contracting, the Fed would withdraw that credit and shrink the money supply so that over time the money supply would stay stable. But during those periods of time where there was a lot of growth and there was a need for more credit, the Fed could provide it and then withdraw it as things slowed down. So over time, the supply of the Federal Reserve notes would be relatively constant. What do we do today? Do we have an elastic money supply that expands and contracts? No, it only expands. That's all it does. It never contracts. I mean, you've had some brief periods of contraction, but I mean, you can barely see them if you look at a chart right, it's almost always expanding.

[Peter Schiff (Co-host or secondary voice)]

But when does the Fed expand the

[Peter Schiff]

money supply the most? When the economy is weak.

[Peter Schiff (Co-host or secondary voice)]

When the economy is contracting in recession, they expand the money supply to stimulate the economy. That is the opposite of what the

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Fed was created to do. It was created to shrink the money

[Peter Schiff]

supply during a recession.

[Peter Schiff (Co-host or secondary voice)]

Now, of course, everybody on the Fed, including they discussed today, will say that what the Fed is supposed to do when there's a weak economy, a recession, is stimulate by cutting rates, doing quantitative easing, expanding the money supply. So the Federal Reserve today is doing the exact opposite of what it was created to do.

[Peter Schiff]

Which is why I'm saying that had

[Peter Schiff (Co-host or secondary voice)]

they proposed this harebrained scheme in 1913, they never would have enacted it. So based on the original purpose of

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the Federal Reserve, I might have even

[Peter Schiff]

been for it, you know, if it

[Peter Schiff (Co-host or secondary voice)]

had stayed within those constraints. The problem is it didn't. In fact, one of the big constraints on the Fed was that the Federal Reserve was not allowed to own any obligations of the United States government. They weren't allowed to. The Fed could not own Treasuries. That was in the original act. So you might say, well then why do they own this huge balance sheet now of US Treasuries if the original Federal Reserve act prohibited the Fed from owning Treasuries? But that also proves that the Federal Reserve was not created to help finance government debt. In fact, the creators of the Fed specifically did not want the Fed to be used to fund government debt, which is why the prohibition was in there in in the first place. Now as I said, camel's nose under the tent. This is why never give the government an inch cuz it will take a mile. By 1917, just a few years later, the US gets into World War I, which was the worst mistake we've ever made as far as wars, as far as I'm concerned, and I don't want to make this podcast about World War I, but had Woodrow Wilson not decided to make the world safe for democracy, which by the way, was the first time any president referred to us as a democracy because before that all they talked about was republic and republican government. But Woodrow Wilson all of a sudden said the world need to be safe for democracy. We got into World War I, a war that we never should have gotten involved in. And had we not gotten involved,

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the

[Peter Schiff (Co-host or secondary voice)]

British would not have won that war. Now the Germans wouldn't have won it either. It would have ended. It would have been like a stalemate and the war would have ended. The Kaiser would have stayed in power. There would have been no Treaty of Versailles, There would have been no war reparations. There wouldn't have been a hyperinflation in Germany. There wouldn't have been all this resentment there. There wouldn't have been the rise of the Nazi Party. There wouldn't have been Adolf Hitler, there wouldn't have been a Holocaust. There wouldn't have been World War II. None of this would have happened had we stayed out of World War I. Now obviously the people that decided to get us involved in World War I had no way of knowing that the consequence would be the Holocaust. And World War II and Nazi Germany, of course they didn't know that. But that's another reason why you mind your own business and stay out of these foreign wars. That's another reason why we should not be involved in Iran, because you have no idea what's going to happen as a result. You don't know where all these chips are going to land, right? How the dots are going to get connected. They didn't know that World War I would cause World War II. But anyway, that's a podcast in and of itself. And that's probably another thing they don't teach you in history, right, that we're kind of responsible for that.

[Peter Schiff]

But getting back to the Fed, so we're in World War I. How do governments pay for wars? They borrow money. Now they just print money. Now the war starts and the government is like, hey, we got this central bank, let's borrow some money from the central bank. We can't, it's illegal. So they went back, they went back and they amended the Federal Reserve act to allow the Federal Reserve to own, not to buy direct from the government. They didn't go that far. But they said the Federal Reserve can buy and hold on its balance sheet government debt, as long as it gets it from a third party, can't buy it directly from the government. They didn't wanna make it that obvious. But they can do open market operations. They can go into the market and they can buy Treasuries. That was it that opened the door and then there was the floodgate. And that also that's why Wall street makes a fortune. Now you might think, why doesn't the Federal Reserve just buy the bonds directly from the government? Why do they have to buy em from Goldman Sachs or Morgan Stanley and cut them in for a commission? Because that's the only way legally that they can buy them. They can't go directly to the government. But had the Federal Reserve act never been amended, they couldn't buy them at all. And that's how it should have stayed. But unfortunately they changed it and now you see the result. Quantitative easing, easing this massive balance sheet. Now coincidentally, at about the same time, they allowed the Federal Reserve to buy US government debt. That's when they passed the debt ceiling. Because they were thinking, hey, wait a minute, now that we've allowed the Fed to buy US government bonds, maybe we should put some limit on how much bonds the US government could sell. That's where the concept of the debt ceiling came in. The mistake of the debt ceiling was that it was movable because every time we got to the debt ceiling, they raised it. So it wasn't a real ceiling at all. It was just a farce. But it shows you, at least they were worried. But if they were worried, why did they allow him to do it anyway? Well, they allowed it because we were at war. Some of the stupidest things that we do happen during war, which is another reason to avoid the war. Right? The withholding tax. The reason people have taxes taken out of their pay is because of World War II. That's when it was enacted a victory tax. The only reason we even have an income tax is because of the Civil War, because that's where they enacted it, they killed it, but then they resurrected it. And that's where the concept of global taxation, nobody knows this. Only place you're going to know this is from the Peter Schiff show, and I don't have a lot of time. But. But the reason America taxes your worldwide income, no matter where you live. The reason if you're an American and you go to a place like Panama and you earn money in a nation that has no tax, the reason you have to pay the tax anyway is because when they passed the first income tax during the Civil War, they also passed a draft. And people were dodging the draft by going to Canada. And so when we passed the income tax, they wanted to catch the draft dodgers. They didn't want the draft dodgers also dodging the income tax, so they made that first income tax during the Civil War apply to Americans no matter where they were. So if you dodged the draft, okay, but you're not dodging the income tax. When they resurrected the income tax in 1913, they used that same thing. That's where they got it. And the first paper money happened during the Civil War. Of course, it was temporary, just to finance the war, but then it came back. But anyway, I can't. That's too much of a digression. And I'm already half hour into this podcast and I haven't even gotten to Walsh. But anyway, now you have some background on the Fed, because none of this stuff came up today in the. The war hearings. And you know, the first thing that they said, look, you know, first you have the chairman, the Republican chairman, the Democratic chairwoman, You know, they make their speech. And of course, the Republicans use the war confirmation to blame all the inflation on Biden, which is very disingenuous. Biden inherited a lot of that inflation from Trump, and Trump is creating plenty of inflation right now. In fact, at one point during the Two, two and a half hours. Probably the best thing that Warsh said is he acknowledged that inflation is not caused by economic growth. He said inflation is caused by government spending too much money and central banks printing too much money. That's right. 100% right. At least he knows that. But once you understand that, how can you claim that Trump is not responsible for any inflation? We had a massive increase in government spending under Trump and a massive increase in money supply under Trump. Trump's responsible for a lot of inflation. And Trump right now is already growing government spending more than Biden did. And so if the Republicans are gonna blame inflation on the deficit spending of Biden, how could they ignore the fact that Trump is spending even more and is gonna run even bigger deficits than Biden did? It's not like Democratic spending causes inflation, but Republican spending doesn't. It's the same thing. And money supply is already growing. So that, I mean, that pisses me off right when I hear that. Then, of course, Elizabeth Warren immediately just lays in to Walsh. Now, some of what she says, you know, she has a point, but a lot of it is sheer hypocrisy, because one of the things that she was upset at Walsh for doing was not cutting rates or not advocating for rate cuts around the time of the 2008 financial crisis by being too hawkish. But now she's worried he's gonna be too much of a dove. In fact, all of these Democrats who are worried that Walsh is gonna just cut interest rates, that's what they always want. They want rate cuts no matter what. Now they're saying you're not gonna be tough enough on inflation. Well, since when do the Democrats give a shit about being tough on inflation? They have always said this is all bs. This is inflation fighting is all about protecting Wall Street. We, we need rate cuts. Consumers need lower interest rates. We need lower mortgage rates. The Democrats have always been in favor of cutting interest rates. All of a sudden, now they're worried that Walsh is gonna cut rates. That's what they want. But now they're only saying this because they know that Trump wants rates to be cut, which of course is true. And they're trying to accuse him of just being a puppet. She was calling him a sock puppet of Trump. But of course, he denied vehemently whenever the Republicans asked him. No, I'm not gonna do what Trump asks. We don't have any quid pro quo. There's no deal. Trump has never even asked me to cut rates. And even if he asked me, I'm not going to follow him. Right. I'm going to do what I believe is right, regardless of what the President says. Now, of course, I mean, would Trump really be nominating a guy who has a history of being a hawk when a lot of other Fed chairs were doves, When Trump's primary criticism of Powell is that he's not being dovish enough? So why appoint somebody who has a history of being a hawk when your problem with Powell is too dovish? So it doesn't really pass the smell test that Trump has no idea what this guy's gonna do and he's just taking a chance and maybe he's gonna be a bigger hawk than Powell. And he says Powell's a low iq, you know, idiot, moron, whatever, don't know what he's doing, right? He should be slashing interest rates. You know. Now, of course, when Warsh, when he started to talk, right, he immediately talks about how he loves the Fed, you know, it's this great institution and you know, he really, you know, he's really excited and he's a public servant and of course, you know, the guy's super rich. And not only is he rich, his wife is even richer. He married, he married into a lot of money. So he's a very wealthy guy. Again, not that I'm against wealthy guys or wealthy women for that matter, but he could afford public service, right? Because he obviously doesn't need any money. It's the Estee Lauder family, right? That's his wife from that fashion icon dynasty, whatever. But anyway, but he's talking about how much he loves this great institution. And so that's where he lost me right away. Cuz it's a lousy institution, it's got a horrible track record. You know, I want a guy that hates the institution and wants to try to rein it in, not a guy that thinks it's the greatest thing going and he's like so excited. At least Alan Greenspan, he was very critical of the Fed before he got appointed and that was a good thing. Hey, a guy that doesn't like the Fed, maybe that's good to have a Fed basher running the Fed, right? But if the guy's talking about how much it's how great this institution is and how he loves everybody associated with it, I mean, he loses my support right there because I mean, as far as I'm concerned, it's one of the worst things we got. He talks about the dual mandate, which of course is bullshit, but he talked about price stability and he said that he has his own definition of price stability. Because the way the Fed defines it, or most people on the Fed, they define price stability as prices that go up by about 2% a year. And of course, for the last five years, they've been going up a lot more than that. Right. But their definition of stable prices is prices that go up every year by about 2%, if not more. So Warsh's definition of price stability is prices that go up, but they don't go up by enough to get anybody to talk about it.

[Podcast Advertiser 1]

So it's not a problem.

[Peter Schiff]

It's like, we can live with it. So his definition of price stability is prices that don't rise by so much that it becomes a big problem. But what's lost in all this redefining of the word price stability is the root stable. Right? Price stability has to do with stable prices. Stable is the word.

[Peter Schiff (Co-host or secondary voice)]

What does stable mean? Like steady?

[Peter Schiff]

Unchanged. Right. Remains the same. That's stable. If something goes up every year, you don't have stability. Prices are not stable. If they always go up, you just have rising prices. So if the goal of the Fed was stable prices, it meant that prices stayed the same over time. They reinvented stability to mean prices go up every single year. But that's not the mandate. The mandate is not for rising prices, just rising slowly. The mandate is for prices to be stable. They redefined it now, of course. Stable prices are not the holy grail of economics. What if prices are supposed to go down, let them go down. Falling prices are better than stable prices. Everybody wants lower prices. I can buy more stuff if prices are lower. Businesses, they strive to lower their prices so they can sell more stuff. That's why they have sales. When you have a sale, they don't raise the price.

[Podcast Advertiser 1]

Hey, hurry up and buy.

[Peter Schiff]

I just jacked up the price. No, the way you get people to hurry up and buy, hey, I cut the price. Oh, great, let me buy some. Right? So everybody benefits from falling prices. So again, I mean, I've talked about this a lot, so I'm not going to keep talking about it now, but it's all bullshit. But again, he still buys into the idea that price stability means that prices aren't stable at all. It means that they just keep going up. So there's that.

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[Peter Schiff]

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[Peter Schiff]

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[Peter Schiff]

Now they kept, the Democrats kept trying to get Walsh to prove that he was independent of Trump by getting him to criticize something and he refused. They said to him, did Trump lose the 2020 election? He wouldn't answer the question. He was like, well you certified it. He wouldn't answer the question. Cuz obviously he doesn't want to say yes and piss off Donald Trump. So again that's evidence that he's not gonna be independent. He can't even admit that Trump lost at the 2020 election. And if he believes he lost it, then why not say it? Cuz he doesn't wanna say that. They talked about how we have a great booming economy, the greatest economy ever, and he was asked, is that true? Do you believe that? Again, he just sidestepped it. Wouldn't answer that question. Cuz he doesn't wanna say, well obviously no, that's not true because first of all Trump is saying we have the greatest economy ever. It's booming. We have inflation that's way above 2%. If we have a great economy and high inflation, we should be hiking rates, not cutting them. Like nobody asked him to explain that dichotomy. What do you think about Trump claiming we have the greatest and strongest economy in the history of the world, yet wanting 1% interest rates at the same time? So he wouldn't do that. Somebody asked him a question, name one Trump policy that you disagree with or that you think. And again he refused to say so he doesn't wanna, you know, obviously he must have thought about Trump's economic policies. Maybe there's a policy he doesn't like. He's afraid to say it. Now again, maybe that's smart, right? He doesn't wanna fall into the trap. But again it makes it look like he's afraid to criticize Trump cuz he can't support everything that Trump is doing.

[Peter Schiff (Co-host or secondary voice)]

Right?

[Peter Schiff]

There must be something that he disagreed. Oh, then he thought of something. He said, oh, he said that I, I look like I came out of central casting. And he says I don't think I, I mean like, you know, come on. Right, like that you.

[Peter Schiff (Co-host or secondary voice)]

That's nothing.

[Peter Schiff]

Right. He picks something that can't be controversial. What else did they ask him?

[Peter Schiff (Co-host or secondary voice)]

I just remembered

[Peter Schiff]

what it was and now it was price stability. No, no, no. Anyway, I'll think of It. Oh yeah. So somebody asked him, Donald Trump wants interest rates to go to 1%. If we did that, if we followed Trump's advice, what impact do you think that would have on consumer prices? He refused to answer the question. It's obvious the impact. He already stated it. How would the Federal Reserve go about bringing interest rates down to 1%? There's only one way to do it, right? They would have to buy up a lot of short term debt and move the yield curve. They would have to do quantitative easing. They would have to expand the balance sheet. They would have to print a lot of money. That'd be the only way they could do it. Well, by his own definition, that's inflation that's gonna cause prices to go up. Yet he refused to answer the question. He can't even, he's like, well, I don't know, I mean, you can't ask me a hypothetical. Yeah, of course, of course. So again, he doesn't want to criticize anything that Donald Trump says. Even if he says something is dumb as we should have interest rates at 1% right now. And you're asking the guy who's gonna chair the Federal Reserve if that's a good idea. And he won't say no. He just like, he won't even talk about it. They asked him again about oil prices going up or about insurance costs going up or a number of things that were going up. And he's, you know, are these things inflationary? And he didn't acknowledge it, but I mean, they're not really inflationary. He didn't do a good job of explaining that some prices can go up and other prices can go down. And we're talking about the general level of prices, not the specific level of any individual price.

[Podcast Advertiser 1]

Cuz in there, he's right.

[Peter Schiff]

When they're saying, you know, when they're talking about food inflation or they're talking about, you know, one senator talked about how homeowners insurance is up a lot and that's inflationary.

[Podcast Advertiser 1]

It's not.

[Peter Schiff]

I mean, it is a consequence of inflation perhaps. But all else being equal, if I'm spending more on my insurance, I have to spend less on something else. But he was not able to articulate that. I mean, maybe he knows that and maybe he didn't even want to try. They did talk about inflation as a tax and he agreed that inflation was a tax. And they talked about it to the extent that it related to Biden and the Biden inflation tax.

[Podcast Advertiser 1]

Well, what about the Trump inflation tax?

[Peter Schiff]

The reason inflation is a Tax is because it's how deficit spending is financed. Well, how is Trump financing his deficit spending? With the same tax. In fact, when Trump's Secretary of the treasury was asked, how are you gonna

[Podcast Advertiser 1]

pay for this war?

[Peter Schiff]

Are you gonna raise taxes? The guy laughed and said it was a stupid question.

[Podcast Advertiser 1]

Why?

[Peter Schiff]

Because we're gonna finance it by creating inflation. We're gonna use the inflation tax. That's how we're gonna pay for this war. So I hate it. They acknowledge inflation is the tax, and somehow only Biden is the one that levied it when Trump has been levying the same tax. Now, they did talk about the dollar, right? He got a question about the dollar and he did say, look, though, once I'm Fed Chair, if you ask me about the dollar, I'm not gonna talk about it. I'm gonna defer to the Secretary of the Treasury. I'm just gonna talk about interest rates. Which again, is bullshit because he's in charge of monetary policy. And the last I check, the dollar is our money. I mean, think about how ridiculous it is that the guy who's in charge of our monetary policy can't talk.

[Peter Schiff (Co-host or secondary voice)]

The idea.

[Peter Schiff]

If he believes in price stability, what is price stability? It has to do with the purchasing power of our money that he says he can't talk about.

[Peter Schiff (Co-host or secondary voice)]

So again, the idea that a Fed

[Peter Schiff]

chairman can't talk about our money. By the way, our money is not really the dollar. It is the Federal Reserve note. If you take our Money, take a $1 bill or $100 bill and look at it, what does it say? Federal Reserve Note. That's what's written on the dollar. In fact, it's not actually a dollar. It's a Federal Reserve note. We write the word dollar on the

[Peter Schiff (Co-host or secondary voice)]

note, but the bill itself doesn't say this dollar.

[Peter Schiff]

It says this Federal Reserve note.

[Peter Schiff (Co-host or secondary voice)]

That's what it is.

[Peter Schiff]

So imagine you're the Chairman of the Federal Reserve and somebody asks you a question about Federal Reserve notes and you say, I'm not allowed to talk about Federal Reserve notes. Well, they're your notes, they're your liabilities. How could you not talk about your own notes?

[Peter Schiff (Co-host or secondary voice)]

Nobody other than me bothers, Bothers to question the idiocy of that statement.

[Peter Schiff]

The Federal Reserve. The Chairman of the Federal Reserve can't

[Peter Schiff (Co-host or secondary voice)]

talk about Federal Reserve notes. He can't talk about the value of Federal Reserve notes.

[Peter Schiff]

He can't talk about the purchasing power of Federal Reserve notes.

[Peter Schiff (Co-host or secondary voice)]

Somehow he's handcuffed.

[Peter Schiff]

And the only one that can talk about it is the Secretary of Treasury? Where the hell is that written?

[Peter Schiff (Co-host or secondary voice)]

You think it says in the Federal Reserve act that if you ask the

[Peter Schiff]

chairman of the Federal Reserve about Federal Reserve notes, he can't talk about them.

[Peter Schiff (Co-host or secondary voice)]

He has to keep his mouth shut

[Peter Schiff]

and say, no, no, no, we can't discuss our notes. Nope, nope. Go talk to the Secretary of the

[Peter Schiff (Co-host or secondary voice)]

treasury, ask him about our notes.

[Peter Schiff]

Don't ask me. It is complete ridiculous.

[Peter Schiff (Co-host or secondary voice)]

But this is what happened.

[Peter Schiff]

Because they don't want him to talk about it, because they want the Secretary

[Peter Schiff (Co-host or secondary voice)]

of Treasury, who can't do anything right, to just say, we believe in a

[Peter Schiff]

strong dollar, we have a strong dollar policy.

[Peter Schiff (Co-host or secondary voice)]

Well, without the Fed, you have no strong dollar only. It's just so ridiculous. But he did say that a strong dollar was good for the Fed. It's good for the country because it

[Peter Schiff]

helps us achieve our mandate.

[Peter Schiff (Co-host or secondary voice)]

Yeah.

[Peter Schiff]

You know, if the dollar is being destroyed, if the dollar is being debased, it makes it impossible for them to achieve their mandate.

[Peter Schiff (Co-host or secondary voice)]

But there was one guy that asked

[Peter Schiff]

him, you know, if he's concerned about that. Senator Loomis, of course, who's shilling for the crypto industry. The one group that he was willing to pander to was crypto. Because where he did give a straight answer was when he said that under no circumstances under my watch will we ever have a central bank digital currency. Which is exactly what the crypto industry wants. Because they don't want to compete with a national crypto. They want to have their own crypto and they want to keep the government out of it. And so Walsh was willing to commit on that. Right. It's like one of the only policies he would commit to. So I guess they still have some influence to crypto people, even though, you know, the air is coming out of their bubble. You know, I was thinking about talking on today's podcast about what's going on with Stretch and Microstrategy. You know, Michael Saylor just bought two and a half billion more in Bitcoin last week. He's single handedly propping up the entire market by running this Ponzi scheme called Stretch, which is, you know, it's a Ponzi within a Ponzi or within a pyramid. I mean, this, it's amazing that the SEC is letting this guy get away with this Ponzi. But I'm looking at this podcast and it's, you know, I'm 50 minutes into it, so I don't really have enough time to get into this Ponzi. I'll save it for another episode. But this is absolutely ridiculous. The fact that you don't have more people, It's a complete Ponzi financial structure. Because strategy doesn't make any money yet. It's paying 11 and a half percent coupon on this preferred. Where does it get the money to pay the coupon?

[Podcast Advertiser 1]

By selling more.

[Peter Schiff]

It doesn't earn the money to pay the yield. It has to sucker in new investors to pay the yield to old investors. The only source of money that Saylor has to pay the old investors is, is if he cons new investors to give it to him by buying more shares. Now, of course, there is another source. They could start liquidating the Bitcoin, but that would blow the whole thing up. But this thing is one giant Ponzi.

[Podcast Advertiser 1]

It is a complete fraud.

[Peter Schiff]

How you know, the administration sits back and allows this security fraud. But I tell you what, when they eventually do pull the plug, because legally Saylor can stop paying the preferred whenever he wants. I mean, that's in the fine print, right? They focus on, oh, this is just like a bank account, only better. This is 11 and a half percent risk free yield. But okay, but the risk is you can lose it all. But at some point, when they run out of suckers and the Ponzi scheme collapses, most Ponzi schemes, that's when you're in a lot of trouble, right? When you run out of suckers like, you know, like Bernie Madoff did, right, when it gets exposed. Or Mashinsky. But this Ponzi scheme, when MicroStrategy runs out of new suckers, all it does is tell the old investors, that said, we're not paying you anymore because strategy doesn't have to pay you anything. It's just gonna keep up the payments to keep up the Ponzi scheme. But once the new money stops coming in, all he has to do is tell the old money, well, you're sol, you're the bag holders, and the whole thing goes to zero. The problem is we got a lot of lawyers in America. And I guarantee you everybody who's left holding the bag on strategy is going to sue and they're going to win. So of all the liabilities that strategy has, when this thing blows up and they have all this paper coming due, the convertibles and the cash, they're also gonna have to deal with all the lawsuits from the people who bought in at the end of the Ponzi and lost all their money when the dividends got canceled. But anyway, maybe I did talk a little bit about it.

[Peter Schiff (Co-host or secondary voice)]

I love the debate.

[Peter Schiff]

Anybody wants to Debate me. That stretches a Ponzi. I'm ready to go if anybody from the crypto industry, I mean, I know Saylor himself will never do it. So anyway, couple more things I want to mention from the hearing. So Walsh was also asked if he agreed with Trump or disagreed about what's happening with Powell and the lawsuit over the cost of the, you know, the Fed, you know, the building. No comment. Doesn't want to comment, says he's not a lawyer. Hey, I didn't take a course in law. I mean, come on. I mean, he said the same thing he said about fed independence, about Lisa Cook. He was asked to comment about Lisa Cook. And do you think it's, does the President have the authority to fire her? And if he can, what will that do about fed independence? Because he mentioned the fact that he thinks fed independence is really, really important and it's, you know, one of the things he really believes in. So he's asked, well, if the President could just fire, you know, an FOMC member, do you think that is a problem for fed independence? He goes, well, you know, I really can't say.

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[Peter Schiff]

and it's like, well, what's your opinion? He goes, well, whatever the Supreme Court decides. I might have taken one class on the Constitution, but I didn't take enough classes to really understand it because it's written in Chinese, so who the hell knows what the Constitution means? So like, I can't even answer that question because I'm not a constitutional scholar. You know, I'll just defer to whatever the Supreme Court says. I mean, what bullshit. Yeah, but of course, yeah, I know he's probably instructed. Look, the guy's gonna get rubber stamped. He's gonna get approved because the Republicans control the Senate and the Republicans are scared shitless to do anything anti Trump. Because, you know, though Trump has lost a lot of his supporters. He hasn't lost them all. He still has a core group. In fact, I think he's retained more supporters than he's lost. He's lost a lot of independents, but the Republicans don't give his crap about them. I mean, they need them in the general election. But what most Republicans don't want is a primary. They don't want some other Republican to say you weren't MAGA enough. They don't wanna, you know, they don't wanna be the next Thomas Massie. And we'll see. Maybe Massie is gonna survive and that will embolden some. I hope Massie survives. He's the best congressman. In fact, he's the only congressman. I think. No, I donate. I think I donated. No, that was a guy that was running for. He's the only incumbent that I've donated personally. Personally, I've donated to Massie's campaign. I maxed out. I could probably. I might be able if there's another cycle, but I gave the individual max to him. But I would encourage my audience to donate to a Massey. In fact, any Republican that Trump wants to get rid of is a Republican that you want to keep. Cuz the irony of the reason he wants to get rid of Massey is because Massie's against deficit spending. He's against all the stuff that Trump pretended he was also against, but now he's for. He wants to get rid of Massie because he's one of the only Republicans that has the guts to say we don't have this money, we can't spend it, we need to cut government spending. Nobody else will say that. But you know, so cuz they're afraid. And so Warsh, to me, you know, I mean, is he the worst chair pick that he could have made?

[Podcast Advertiser 1]

No, I think there are worse people

[Peter Schiff]

than Kevin Warsh, who Trump could have nominated.

[Podcast Advertiser 1]

I mean, that's the most I can say about it.

[Peter Schiff]

I mean, at least the guy understands that economic growth doesn't cause inflation. And apparently when Elizabeth Warren was grilling the guy about not predicting the 2008 financial crisis, which she didn't predict either,

[Peter Schiff (Co-host or secondary voice)]

I of course did.

[Peter Schiff]

He at least claimed that he was warning about Fannie and Freddie. Maybe he did warn about them, which

[Peter Schiff (Co-host or secondary voice)]

would have been good.

[Peter Schiff]

I was warning. I said they were gonna go bankrupt. And so maybe he knew they were a problem. And so he probably is not even close to being the worst person that could have the job. He's probably not as bad as Yellen, he's probably not as bad as Bernanke, and maybe he's not as bad as Powell, but not as bad as really bad Fed chairman. Doesn't mean he's going to be a good Fed chairman. I wouldn't expect that at all. What I would expect from Kevin Walsh is more of the same. More of the same shit that we've been getting. More reckless money printing, quantitative easing, artificially low interest rates. That's it. That's what we're gonna get. And that's bearish for the dollar, that's bullish for gold, that's bullish for the Euro Pacific Asset management strategy. So what you should be doing now in response to these hearings is buy yourself some gold and silver. Gold is back below 4800, about 4750. It's up 35 bucks tonight, but it was down $125 during the day. So you got a nice dip. Go to Schiff Gold right now. In fact, we just launched. I should have said this earlier in the program. Maybe I'll do it next time.

[Peter Schiff (Co-host or secondary voice)]

The Shift Gold app is live at the App Store.

[Peter Schiff]

Go and download my app and then you can buy gold and silver right from the app, have it delivered right to your door.

[Peter Schiff (Co-host or secondary voice)]

The T Gold app is not ready

[Peter Schiff]

yet and it's not live on the Shift Gold app. You can still buy T Gold on your desktop. On my website you can buy T Gold.

[Podcast Advertiser 1]

Not on the app yet.

[Peter Schiff]

I will let you know it's coming. We're still working it out, but I have a lot that's gonna go on later with T Gold.

[Peter Schiff (Co-host or secondary voice)]

But obviously having the app is a

[Peter Schiff]

key to using gold and silver as a medium of exchange where you can

[Peter Schiff (Co-host or secondary voice)]

send and receive payments right from the

[Peter Schiff]

app in gold and silver and ultimately withdraw your gold in a token. Right, all that stuff, that's all my big plans. But right now, go get the app, buy yourself some gold and silver. And if you want to fund your T Gold account, you got to do it on the website. For now, Silver's up a buck 20,

[Podcast Advertiser 1]

but it was down three bucks today.

[Peter Schiff]

But it's back below $80.

[Peter Schiff (Co-host or secondary voice)]

77, 76.

[Peter Schiff]

Buy some silver, go to Euro Pacific

[Peter Schiff (Co-host or secondary voice)]

Asset Management, Europact.com get into my managed accounts, buy my mutual funds.

[Peter Schiff]

All of these funds are designed to

[Peter Schiff (Co-host or secondary voice)]

benefit, to benefit from a weak dollar, from stagflation. All the things that are happening now and that are gonna happen worse in

[Peter Schiff]

the future, that's already factored into these funds.

[Peter Schiff (Co-host or secondary voice)]

And if I'm right, then these funds should deliver incredible returns.

[Peter Schiff]

So load up on them. And again, don't forget to subscribe to

[Peter Schiff (Co-host or secondary voice)]

my free newsletter at Shift Sovereign. And if you're a do it yourselfer, if you need some investment ideas, make sure and get a premium.

[Peter Schiff]

Get a subscription to

[Peter Schiff (Co-host or secondary voice)]

Global strategic assets.

[Peter Schiff]

And we're really going to be working

[Peter Schiff (Co-host or secondary voice)]

on our new product.

[Peter Schiff]

For your Plan B.

[Peter Schiff (Co-host or secondary voice)]

For your Plan B. My Plan B, that might be Panama. I kind of let that a little bit out of the bag, but we're

[Peter Schiff]

going to be talking a lot about

[Peter Schiff (Co-host or secondary voice)]

things that you could do just in case things are going to get bad. They could get really bad. And so it's important to have a Plan B. And so we're going to be covering

[Peter Schiff]

a lot of that at Shift Sovereign.

[Peter Schiff (Co-host or secondary voice)]

Anyway, that's it for today's podcast. Don't Forget, like the YouTube video. Subscribe, give me a thumbs up, tell your friends, and I'll be back with another podcast. Most likely it'll be the Friday Shift Gold Wrap. I haven't done a Shift Gold Friday Wrap in a couple of weeks, so most likely the next thing I'm going to be doing is the Friday Market Wrap. So if you're not currently a subscriber to the Shift Gold YouTube channel, go there right now and subscribe and be on the lookout for the Friday Market Wrap. Bye for now.

[Podcast Advertiser 2]

A Better Help Ad therapy isn't just for times of major challenge. It's a valuable tool for anyone wanting to improve their well being. It can help you develop healthy coping skills, set boundaries, and Support personal growth. BetterHelp makes it easy to get matched online with a fully licensed therapist right from your phone. No commuting, no waiting rooms, and you can switch therapists at any time. Sign [e-mail] and get 10% off your first month. That's betterhelp.com

[Ryan Reynolds]

Ryan Reynolds here from Mint Mobile with a message for everyone paying Big Wireless way too much. Please, for the love of everything good in this world, stop with Mint. You can get premium wireless for just $15 a month. Of course, if you enjoy overpaying. No judgments. But that's weird. Okay, one judgment anyway. Give it a [e-mail] Switch upfront payment

[Podcast Advertiser 2]

of $45 for three month plan equivalent to $15 per month required intro rate first three months only, then full price plan options available, taxes and fees extra.

[Peter Schiff (Co-host or secondary voice)]

See full [e-mail].