The Peter Schiff Show Podcast CPI Hits 3.3%, Consumer Sentiment Hits Record Low — Stagflation Is Here
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Apr 11, 2026 Markets react to a surprise ceasefire and its ripple effects. A sharp CPI jump and hidden Fed balance-sheet growth raise inflation alarms. Consumer sentiment falls to record lows amid weak GDP revisions. A stagflation narrative emerges alongside a bullish case for gold and silver.
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Ceasefire Sparked Risk-On Rally Not Safe-Haven Buying
- Markets rallied on a midweek ceasefire despite expectations that war would boost safe havens.
- Peter Schiff attributes the stock surge to risk-on sentiment and traders expecting Fed rate cuts, not reduced geopolitical risk.
Real Rates Falling Drive Precious Metals Higher
- Gold and silver will rise regardless of Fed rate moves because real rates are falling as inflation outpaces nominal rates.
- Schiff argues even rate hikes won't close the gap between rising inflation and the Fed funds rate, lowering real yields.
Fed Money Printing, Not Oil, Causes Broad Inflation
- Higher oil prices themselves don't cause sustained inflation; they tend to depress discretionary demand and can cause recession.
- Inflation emerges when the Fed prints money in response to energy-driven weakness, which pushes up all prices.