WTFinance · Sep 28, 2026 · 35m · 21m saved
With Peter Schiff, Founder of Euro Pacific Asset Management and SchiffGold
Peter Schiff said a 30-year mortgage is near 7.5% and will probably reach 8% within weeks, and that it will not stop until it reaches double digits.
Most investors read rising bond yields as a sign of a strong economy with plenty of demand for capital. Schiff said they are rising for disturbing reasons, and that 5.2% on the 10-year Treasury is not the top.
"This is not the top. We're going much higher."
Peter Schiff, Founder of Euro Pacific Asset Management and SchiffGold, on WTFinance, in an interview recorded on September 25. The show describes him as best known for forecasting the 2008 financial crisis. He runs five mutual funds and a gold dealer, and says he has more than 1.7 million followers on X.
The full interview is covered here so you can skip it. 35 minutes of audio, 14 minutes of reading.
Here are the 16 calls that matter.
Key Takeaways
Investors are ignoring rising bond yields, and he said the 10-year at 5.2% is not the top
Mortgage rates are headed for double digits, which he said will price most Americans out of buying
The Fed's quarter-point hike was symbolic, and far bigger hikes will be needed
Higher oil prices are not inflation on their own; money printing is
Treasury buybacks cannot hold down yields, and Fed buying would create a self-perpetuating spiral
The US is in worse shape than in the 1970s, with far more debt and trade deficits instead of surpluses
Debt to GDP was 30% then, against 120% now, he said
Yields will keep rising at least until the stock market breaks
Gold is already replacing the dollar, and silver has broken out
He is bullish on emerging-market stocks, which he said are being overlooked for US tech
1. Investors Ignore Yields
Asked what he sees in the economy and markets, Schiff opened with bonds.
"Well, you know, I think right now the big story is that investors are completely ignoring the rise in bond yields." — Peter Schiff
He said investors are not worried about what higher yields do to the economy, corporate earnings or stock valuations, and many rationalize the rise as a sign of strong investment opportunity. There may be some truth to more competition for capital, he said, but that is not the only reason.
He said the 10-year at 5.2% is only a waypoint
He said the direction of rates matters more than the level.
"It's not just that the you know the 10 years at 5.2 or the 5 years at 5.5." — Peter Schiff
"This is not the top. We're going much higher." — Peter Schiff
"And so even if you think 5.2% isn't harmful, what about 6.2? What about 7.2, 8.2?" — Peter Schiff
