Glenn Diesen - Greater Eurasia Podcast Peter Schiff: Dollar Breaking Point - Debt & Energy Crisis
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May 7, 2026 
Peter Schiff, CEO of Euro Pacific Asset Management and outspoken economist, warns the dollar faces a breaking point. He discusses debt and rising bond yields, energy and agriculture disruptions from geopolitical shocks, and why government rescues and tariffs cannot fix fiscal imbalances. He also covers China shifting into gold and where capital may flow ahead of a dollar crisis.
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Muted Safe Haven Rally Signals Dollar Fragility
- Schiff says the dollar's wartime safe-haven rally was muted and the currency quickly lost those gains.
- He blames soaring deficits, higher military and interest spending, and investors moving from treasuries into gold.
Slow Decline Then Sudden Dollar Collapse
- Schiff expects a long gradual decline of the dollar that will suddenly accelerate into a rapid collapse.
- He compares the process to going broke slowly at first, then all at once, warning timing is uncertain but speed will be high when it flips.
Avoid Political Rescues That Make Problems Worse
- Avoid government bailouts and antitrust interference that create worse outcomes, according to Schiff.
- He uses Spirit Airlines as an example where blocking a JetBlue buyout left shareholders worse off and reduced competition.