Inside America's Debt Crisis: How Politicians Are Sacrificing Your Future Peter Schiff Pt. 2 -

Tom Bilyeu's Impact Theory

Impact Theory

Education, News, News Commentary, Philosophy, Technology, Society & Culture, Business, Self-improvement

4.7 • 5.1K Ratings

🗓️ 29 October 2025

⏱️ 73 minutes

🔗️ Recording | iTunes | RSS

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Summary

In Part 2 of this gripping discussion, Tom Bilyeu and Peter Schiff turn their attention to the impending consequences of America’s unsustainable economic trajectory. Schiff predicts the collapse of the dollar’s reserve status, explains how a global shift toward gold is already underway, and lays out the likely social, political, and financial fallout—both for the U.S. and the world. The conversation ventures into practical advice on how individuals can protect their wealth in the face of inflation and waning trust in traditional financial assets. Tom challenges Peter on bitcoin’s role as “digital gold,” spurring a spirited debate on the future of money, generational attitudes about value, and the risks of speculative assets. Schiff also addresses the dangers of expanding government, the illusion of democracy, the social risks embedded in economic collapse, and the myths and realities of corporate greed. Rounding out the episode are controversial takes on minimum wage laws, socialism’s rise, China’s ascent, and what Americans can do to weather the coming economic storm. What's up, everybody? It's Tom Bilyeu here: If you want my help... STARTING a business: join me here at ZERO TO FOUNDER: https://tombilyeu.com/zero-to-founder?utm_campaign=Podcast%20Offer&utm_source=podca[%E2%80%A6]d%20end%20of%20show&utm_content=podcast%20ad%20end%20of%20show SCALING a business: see if you qualify here.: https://tombilyeu.com/call Get my battle-tested strategies and insights delivered weekly to your inbox: sign up here.: https://tombilyeu.com/ ********************************************************************** If you're serious about leveling up your life, I urge you to check out my new podcast, Tom Bilyeu’s Mindset Playbook —a goldmine of my most impactful episodes on mindset, business, and health. Trust me, your future self will thank you. ********************************************************************** FOLLOW TOM: Instagram: https://www.instagram.com/tombilyeu/ Tik Tok: https://www.tiktok.com/@tombilyeu?lang=en Twitter: https://twitter.com/tombilyeu YouTube: https://www.youtube.com/@TomBilyeu Bevel Health: 1st month FREE at https://bevel.health/impact with code IMPACT Linkedin: Post your job free at https://linkedin.com/impacttheory Shopify: Sign up for your one-dollar-per-month trial period at https://shopify.com/impact True Classic: Upgrade your wardrobe at https://trueclassic.com/impact Cape: 33% off with code IMPACT33 at https://cape.co/impact Surfshark: Go to https://surfshark.com/bilyeu or use code BILYEU to get 4 extra months of Surfshark VPN! AirDoctor: Up to $300 off with code IMPACT at https://airdoctorpro.com Raycon: Go to https://buyraycon.com/impact to get up to 30% off sitewide. Found Banking: Try Found for FREE at https://found.com/impact Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	I'm Tom Billu and this is Impact Theory. Let's jump right back into part two of my conversation with Peter Schiff.
0:08.0	Yeah, the exact thing that I've been trying to get people to hear is that every country, with the exception of Japan, that has crossed 130% debt to GDP, tears itself apart from the inside.
0:19.0	You end up with civil war or revolution. People
0:22.1	always think that I'm being hyperbolic or I'm just being paranoid. But the reality is when
0:26.7	you start describing the mechanisms that would have to be in place for these kind of drawdowns
0:33.8	to happen is, I mean, you're not able to fund a bunch of programs. So you literally have to go
0:41.3	into the government and say, well, these things just aren't going to get paid. Check start bouncing.
0:46.0	You just run into the realities of what happens when you can't do funny money, essentially.
0:51.9	Yeah. And that, yeah, that is going to get bad. And then you're going to
0:55.6	take the populism that we have now and you're going to exacerbate it a thousandfold. And that's
0:59.2	when suddenly the left and the right go from hating each other to actually killing each other.
1:03.1	Yeah. And, and, you know, this responsible thing is for the government to admit that it's broke
1:08.6	and that it can't afford the promises that it's made and to cut
1:12.5	government spending, including entitlements. To be honest with the voters and say, you know, we can't
1:18.7	pay you the Social Security benefits that we promised. And so we're not going to. We're going to either,
1:25.0	maybe we're going to make the retirement age 85 instead of 65, right?
1:29.7	You got to keep working.
1:31.1	Unfortunately, you know, we told you you could retire at 65, but we don't have the money.
1:35.6	You know, there's a lot of things that America should do, but we're not going to do that.
1:39.8	So instead, we're going to create massive inflation so that the social security payments are worthless.
1:45.2	So, you know, I mean, my my solution is means testing it so that at least the poorest people
1:52.1	who really need social security could get something. And wealthy people, like, like, I don't need any
	...

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