The Debt, the AI Bubble, and Strategy's Liquidity Crisis… It's All Connected

The Peter Schiff Show Podcast

Peter Schiff

Business, Politics, News, Business News, Investing

4.6 • 5.9K Ratings

🗓️ 28 May 2026

⏱️ 64 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

The US needs to borrow $20 trillion this year. Saylor just blew 60% of his cash paying off 0% debt early. The dominoes are falling.

This episode is sponsored by Rockwell Automation. Download their 11th Annual State of Smart Manufacturing Report at https://rok.auto/sosm

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.

Donald Trump spent Memorial Day weekend claiming an Iran deal was 90% done — oil dropped $10 to below $90, but bond yields barely moved, with the 10-year still at 4.5% and the 30-year above 5%. Peter Schiff argues the bond market is telling the real story: with $13 trillion in debt maturing this year plus $3 trillion in new borrowing, the US needs to convince creditors to roll over nearly $20 trillion — an amount without historical precedent.

The AI CapEx bubble is now consuming a trillion dollars a year, funded by layoffs and foregone investment in actual manufacturing. Schiff compares it to dot-com: the technology is real but the stocks are wildly overvalued and most will go to zero when rising interest rates prick the bubble. Meanwhile, Michael Saylor burned over 60% of Strategy's cash reserves paying off zero-interest convertible notes three years early — a move Schiff says was forced by behind-the-scenes pressure, not financial genius. Elizabeth Warren accidentally made the best case against payroll taxes by pointing out that companies are incentivized to replace workers with AI because hiring people is taxed while buying computers isn't — though her solution is more taxes, not fewer.

Chapters:

00:00 - Intro

00:53 - Iran War & Market Reaction

06:47 - Bond Market & The Debt Crisis

14:25 - Ad Break: Ethos

15:47 - The AI CapEx Bubble

26:23 - Gold, Silver & Mining Stocks

29:11 - IRS Lawsuit & Bank Documentary

32:12 - Ad Break: Rockwell Automation

33:35 - Elizabeth Warren's AI Tax Proposal

47:28 - Strategy, Bitcoin & The Coming Bust

57:25 - Tokenized Gold vs Bitcoin

58:42 - Summer Sign-Off & 250th Anniversary

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Transcript

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0:00.0	One minute, you're up half a million in soybeans and the next boom. Your kids don't go to college and they've repossessed your vent. Are you with me? The revolution starts now. Starts now. We have to pass the bill so that you can find out what is in it. Turn those machines back on. You are about to enter the Peter Schiff's show. Show me the money! If we lose freedom here, there's no place to escape to.
0:23.6	This is the last stand on Earth.
0:25.0	The Peter Schiff Show is on.
0:26.5	I don't know when they decided that they wanted to make a virtue out of selfishness.
0:30.7	Your money, your stories, your freedom.
0:34.1	The Peter Schips Show.
0:53.9	All right. I hope everybody had a great Memorial Day holiday weekend.
0:58.3	You know, our president, Donald Trump, spent part of his Memorial Day weekend on
1:04.3	truth social, I guess lying about this imminent deal to end the Iran war, this great deal.
1:13.3	I think he said it was 90% done or done.
1:16.2	And I think he was talking about a press conference.
1:19.1	Maybe he even had it.
1:20.2	I wasn't even sure to announce the deal.
1:24.3	The straight was supposed to open up immediately.
1:27.5	Everything was going to be great.
1:29.7	And, you know, here we are Wednesday evening.
1:33.0	And I really haven't heard anything about a deal, just more talk about a deal.
1:38.5	You know, he's turning into the president who, you know, cried deal when it comes to Iran.
1:44.0	The markets, of course, you know, they don when it comes to Iran. The markets, of course,
1:46.0	you know, they don't seem to care. They come running. And every time he says he has a deal,
1:50.9	oil prices dropped about $10 over the past couple of days. We got back below $90 a barrel
1:57.3	on West Texas. Although as I am starting this podcast, oil is up this evening,
	...

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