Stretch hit $71 intraday. Strategy down 85% from peak. The first lawsuit just landed. And CNBC has gone completely silent.

- This episode is sponsored by Pebl. Go to https://hipebl.ai to get a free estimate.

The Strategy death spiral accelerated dramatically this week. Stretch preferred stock plunged 18% to close at $79 after hitting an intraday low of $71 — a 29% loss from par that wiped out more than two years of dividend income in weeks. Strategy common stock crashed 30% in a single week and is now down 85% from its peak, trading at a massive discount to its Bitcoin NAV. The first class action lawsuit was filed against Strategy, and Schiff expects tens of billions in total legal liability from both Stretch and common equity holders.

Saylor continued selling common stock to buy Bitcoin despite each purchase destroying shareholder value — diluting Bitcoin per share at the current discount. Schiff argues this is done solely to maintain the illusion that Strategy is still a buyer, propping up Bitcoin's price at shareholders' expense. Bitcoin fell 8.3% to below $60,000 but is only the beginning — with Strategy sidelined as a buyer and ETF holders sitting on losses, there is no marginal buyer left. Gold traded below $4,000 and silver dropped to $56 intraday before recovering, but Schiff sees this as the likely bottom of the correction and the buying opportunity of the cycle. Alan Greenspan died at 100, and Schiff eulogized him as the architect of modern monetary inflation who proved that even a gold bug will choose inflation when given the power of the printing press.

Chapters:

00:00 Death Spiral Warning

01:50 Stretch Ponzi Explained

09:36 Why It Must Collapse

18:41 This Week’s Crash Data

28:57 Lawsuits and Market Fallout

33:14 Gold and Silver Bottoming

34:43 Fed Hype and Inflation Reality

39:11 Greenspan Legacy and Gold Signal

43:21 Dump Crypto Buy Metals

52:43 Ford Wage Myth and Wrap Up

Follow @peterschiff

X: https://twitter.com/peterschiff

Instagram: https://instagram.com/peterschiff

TikTok: https://tiktok.com/@peterschiffofficial

Facebook: https://facebook.com/peterschiff

#PeterSchiffShow #StrategyDeathSpiral #BitcoinCrash

Iran's regime survived, got $300B, and we reopened what we closed. Adam Schiff wants to steal Musk's trillion. Japan is about to blow.

This episode is sponsored by Zapier. Get started for free at https://zapier.com/gold

The Iran MOU is being celebrated as a great victory, but Peter Schiff argues it achieved nothing more than returning to pre-war conditions: no fighting and the Strait of Hormuz open — both of which were true before the war started. Iran's regime survived, got immediate sanctions relief, access to a $300 billion investment fund, and frozen assets returned. The only concession is a promise not to develop nuclear weapons — the same promise they were making before the war that Trump said wasn't good enough.

Schiff dismantles Adam Schiff's viral video calling for confiscation of Elon Musk's trillion-dollar wealth, showing that dumping that much stock would crash the price to a fraction of its value, destroy two companies, eliminate the incentive for future entrepreneurs, and give each household a one-time $7,500 check they'd spend in a week — the communist promise that has failed every time it's been tried. California's billionaire wealth tax made the ballot, threatening a 5% annual levy that would trigger a mass exodus. Meanwhile, Japan's debt crisis is accelerating with the yen breaking down past 160, 10-year JGBs at 2.65%, and a debt-to-GDP ratio of 250% — at 4% interest rates, two-thirds of Japanese tax revenue would go to interest alone. Schiff calls it a preview of America's future.

Chapters:

00:00 Crisis Without a Plan

00:48 Father’s Day Intro

02:21 Iran MOU Reality Check

09:40 Who Really Wins the Deal

17:10 Wealth Inequality and Billionaire Taxes

31:16 Why Capital Matters

32:29 Panama Wealth Conference

33:47 Schiff vs Billionaires

35:00 Confiscation Fallout

42:43 Japan Yen Crisis

50:58 Gold Fed Reality Check

54:23 Accountability and Wrap Up

Follow @peterschiff

X: https://twitter.com/peterschiff

Instagram: https://instagram.com/peterschiff

TikTok: https://tiktok.com/@peterschiffofficial

Facebook: https://facebook.com/peterschiff

Warsh set up 5 task forces to study inflation. You only study a problem when you don't want to solve it. Same game, new players.

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 Ethos. Protect your family with life insurance from Ethos. Get up to $3 million in coverage in as little as 10 minutes at https://ethos.com/gold. Application times may vary. Rates may vary.

Kevin Warsh's first FOMC meeting delivered a hawkish surprise — rates held at 3.5-3.75% unanimously, forward guidance was eliminated, and dot plots now project two rate hikes by year-end. But Peter Schiff argues it's all theater. Instead of actually fighting inflation, Warsh announced five new task forces to "study" the Fed's balance sheet, communications, data sources, jobs, and inflation itself — the classic government move of establishing committees to avoid solving problems.

Warsh acknowledged inflation is a choice, and Schiff agrees — the Fed has chosen inflation over the alternative of crashing markets and forcing fiscal responsibility since the Greenspan era. The question is whether Warsh will break that tradition when push comes to shove. Schiff says no: Trump won't tolerate a bear market, the Treasury Secretary is having weekly breakfasts with the Fed Chair, and the political pressure to print will overwhelm any hawkish posturing. Meanwhile, Strategy's death spiral accelerated with Stretch falling to $89 — wiping out the entire annual yield in one month — while Saylor continues diluting common shareholders to fund dividends he can't sustain. SpaceX soared past $3 trillion on a 4% float, sucking speculative capital away from crypto and accelerating Bitcoin's decline to $64,000.

Chapters:

00:00 Warsh Shocks Markets

00:45 Rates Hold Steady

01:26 Trump Versus Powell

03:42 Shortest Fed Statement

06:01 Ample Reserves Contradiction

07:13 Five Task Forces Announced

32:18 Term Insurance Not Investing

33:40 Fed Task Forces Skepticism

39:56 Inflation Tax And Politics

44:37 SpaceX IPO Mania

47:23 Bitcoin Strategy Death Spiral

55:37 Gold Silver Buy The Dip

56:29 Same Fed Same Game Wrap Up

58:29 Closing And Follow Me

Follow @peterschiff

X: https://twitter.com/peterschiff

Instagram: https://instagram.com/peterschiff

TikTok: https://tiktok.com/@peterschiffofficial

Facebook: https://facebook.com/peterschiff

#PeterSchiffShow #FederalReserve #FOMC