Trump Targets Thomas Massey, Oil Explodes, Iran War Costs Revealed
The Peter Schiff Show Podcast
Peter Schiff
4.6 • 5.9K Ratings
🗓️ 12 March 2026
⏱️ 67 minutes
🧾️ Download transcript
Summary
Oil prices are exploding past $93 a barrel as Trump's unconditional surrender demand sends shockwaves through markets—but here's the real inflation culprit nobody's talking about, and why the Fed's rate cuts are about to make everything worse.
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Peter Schiff analyzes the massive oil price surge following Trump's Iran war, with crude jumping from $90 to over $119 per barrel before pulling back slightly as countries coordinate strategic petroleum reserve releases. Schiff argues that while rising oil prices don't directly cause inflation, the government's monetary and fiscal response to fund the war and rebuild Iran will trigger massive money printing and borrowing, creating real inflation across all goods. He criticizes Trump's economic lies, including false claims about $18 trillion in foreign investment and job creation numbers that show only 181,000 jobs created in 2025 versus 2.2 million under Biden's final year.
Schiff expresses outrage over Trump's campaign against Congressman Thomas Massey in Kentucky, calling Massey "the best congressman we have" and the only Republican who truly stands for constitutional principles, limited government, and fiscal responsibility. He explains that Massey voted against Trump's "big beautiful" tax bill because it increased spending without corresponding cuts, making it a disguised tax hike rather than genuine tax relief. Schiff sees Trump's attack on Massey as proof that Trump opposes real conservative principles, preferring rubber-stamp politicians over principled representatives who honor their constitutional oath.
Chapters:
00:00:00 Show Cold Open
00:00:55 War and Oil Shock
00:09:45 Inflation and Fed Blame
00:16:20 Unconditional Surrender Walkback
00:21:57 Dollar Power and Gold Outlook
00:29:31 Mining Stocks Selloff
00:31:14 Oil Spike and Profits
00:32:24 How to Buy Exposure
00:33:41 CPI and Inflation Reality
00:37:27 Massey Trump and Media
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Transcript
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| 0:00.0 | I make no friends in the pits and you take no prisoners. |
| 0:05.2 | One minute, you're up half a million and soybeans and the next boom. |
| 0:07.6 | Your kids don't go to college and they've repossessed your bentley. |
| 0:09.6 | Are you with me? |
| 0:10.2 | The revolution starts now. |
| 0:12.6 | Starts now. |
| 0:14.0 | We have to pass the bill so that you can find out what is in it. |
| 0:18.2 | Turn those machines back on. |
| 0:20.5 | You are about to enter the Peter Schiff's show. |
| 0:24.0 | Go be the money! |
| 0:25.9 | If we lose freedom here, there's no place to escape to. |
| 0:28.5 | This is the last stand on Earth. |
| 0:29.9 | The Peter Schiff Show is on. |
| 0:31.8 | I don't know when they decided that they wanted to make a virtue out of selfishness. |
| 0:35.7 | Your money. |
| 0:36.8 | Your stories. Your freedom. The freedom of Peter Schiff's show. |
| 1:04.1 | Welcome everybody to another live Peter Schiff Show podcast and all of the action, or at least most of the action in the financial markets. Obviously, there's a lot of action, unfortunately, on a battlefield in Iran. |
| 1:10.6 | But in the financial markets, |
| 1:12.7 | the major reaction thus far has been in the oil market. |
| 1:19.0 | Now, since my last podcast, |
| 1:22.5 | which I did, I think, Tuesday or Wednesday last week, |
| 1:26.1 | by the way, hopefully everybody watched the Friday shift gold market wrap |
... |
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