Schiff Claims Fed Lost Inflation Battle, Debates Bitcoin vs Gold

Peter Schiff stated that the bond market's break occurred in 2020, not recently, with the subsequent period representing a slow unwinding.

In a discussion with Grace Remington and Sean Hagan, Schiff linked rising Treasury yields, the Fed's upcoming rate decision, the declining purchasing power of the dollar, and the central bank's gold purchasing.

He contended that a stock market decline caused by higher interest rates would be very negative for Bitcoin and cryptocurrency markets, and that political support in Washington has already shifted against them.

The conversation concluded with Schiff and the hosts debating whether Bitcoin has any underlying backing.

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