Peter Schiff: The Next Meltdown Has Quietly Started

Peter Schiff argues the equity and crypto complex has quietly entered the late-stage bubble phase, with extreme valuations, a frothy SpaceX IPO, and Bitcoin already down roughly 50% from its peak at 126,000 to around 64,000. He frames crypto as the clearest leading indicator of a broader “meltdown,” saying speculative excess has already started to unwind even if mainstream equities have not yet cracked. For gold and silver, the interview references a pullback since the end of February and notes that the last time he appeared, it was just before both metals peaked. The transcript does not include specific price targets, but Schiff’s broader macro thesis is that when the bubble unwinds, hard assets should regain relative appeal versus overvalued financial assets and zero-earnings speculation. Near term, the tradeable implication is a risk-off backdrop if the market starts to de-rate growth and speculative assets more aggressively, which would be supportive for precious metals. However, the segment is more a macro warning than a fresh metals call, with limited direct flow or market data on XAU/XAG.