The tweet was deleted by the author.
But we saved everything 🙂.
Peter Schiff, CEO and chief global strategist of Euro Pacific Capital, points out that despite a 30% drop in oil prices in June, year-over-year import prices rose 7.1% and export prices climbed 10.2%.
Schiff argues that these figures provide a more accurate reflection of the price increases facing U.S. consumers than the reported 3.5% year-over-year gain in the June Consumer Price Index (CPI), suggesting inflation remains a significant concern.
Schiff has recently highlighted pressure in other markets. He noted that Strategy shares are now trading below $85.50, at a steep discount to the company’s Bitcoin per share value. In a separate warning, he said that the bond market is breaking down and expects stocks, housing, and crypto to be impacted next. These remarks expand on Schiff’s ongoing focus on asset prices and inflation.