Peter Schiff: This Crisis Won't Be Like 2008, It Will Be a U.S. Sovereign Debt Crisis

Peter Schiff warns that a "great repricing" is underway and the Federal Reserve is about to make its "biggest error yet" in the face of a U.S. sovereign debt crisis. In this exclusive interview with Kitco News Anchor Jeremy Szafron, Schiff explains why this crisis won't be like 2008 and what it means for the U.S. dollar, gold, and your savings.

Schiff argues that the entire gold and silver rally, which has seen both metals hit multi-year highs, has been driven by central banks, not retail investors. He reveals that sales volume from "stackers" is nowhere near previous peaks and explains what will happen when the public finally rushes in. He also directly refutes claims made by the U.S. Treasury Secretary about the performance of U.S. bonds, explaining why foreign investors are facing significant losses and are now selling their U.S. debt.

Finally, Schiff gives his forecast for a potential financial panic, including the government's likely response of capital controls, and discusses the risk of nationalization for gold miners and confiscation for physical gold owners.

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This interview was recorded on September 16, 2025.