Trump calls Peter Schiff a ‘loser’ and ‘idiot’

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Donald Trump has called Peter Schiff a “loser” and an “idiot” after the Bitcoin critic said US prices would continue to rise.

Trump’s flank followed the economist’s lead. note In a Fox News interview he said: The biggest problem currently facing the U.S. government is ‘excessive’ spending.

He added that he expects President Trump to eliminate the national deficit by lowering interest rates and returning to overall quantitative easing.

“And what that means is that life is going to become a lot more unmanageable under Trump than it was under Biden,” he said.

He predicted that “inflation rates will accelerate as President Trump’s term progresses” and said his policies “continue to have an impact on prices.”

“Most other prices are higher,” he added. “Yes, it’s not going up 9% a year yet, but it’s going up.”

Trump: “I will correct Biden’s mistakes”

Trump, angered by Schiff’s comments, launched a fierce attack on his Truth Social platform.

President Trump said, “Why would Fox and Friends Weekend hire a ‘stockbroker’ named Peter Schiff, a Trump-hating loser?”

“He thinks prices are going up, but they’re actually going down significantly,” Trump said, adding that gas prices recently hit $1.99 per gallon. “Almost all other prices have fallen,” he added.

Trump said former President Joe Biden created the current affordability crisis and is trying to fix it.

Although it is true that gasoline prices have fallen, inflation is still on the rise, with the U.S. Consumer Price Index (CPI) rising 3% in September compared to the previous year.

Schiff strikes back

In a follow-up post to X, Schiff acknowledged that some prices, including gasoline, may now be lower, but said he was not sure how long that would last.

He also said Biden “did a lot to help create the ‘economic affordability crisis’ during his first term, including under Trump.”

“He’s not fixing it,” he said. “He’s making it worse.”

Representative. Trump called me a loser, an idiot and a Trump hater for telling the Fox audience the truth about the rising cost of living. During his first term, Biden had a lot of help creating the ‘economic affordability crisis’, including Trump, and is making the situation worse rather than fixing it. pic.twitter.com/IK7POAN2ye

— Peter Schiff (@PeterSchiff) December 6, 2025

“Because President Trump has called me a fool and a loser for claiming prices will fall but are still rising, I challenge him or his designee to a debate about the U.S. economy and the effectiveness of his policies,” he said. “If I’m as wrong as he says, let him prove it.”

He added, “Considering how much President Trump hates the truth, I think the social media platform should be renamed Lie Social.”

affordability of housing

Schiff also criticized housing policies, criticizing them. The unaffordability situation is “a direct result of the government’s efforts across multiple administrations to make housing more affordable.”

“But like everything the government does, it backfired,” he said. “The only solution to the house affordability problem is for the government to get out of the way and force house prices down, and they will do that.”

But he warned that doing so would lead to another financial crisis as many homeowners would default on their mortgage payments.

Turbulent week for Schiff after CZ squabbles at Binance Blockchain Week

It’s been a turbulent week for Schiff, an economist with 1.2 million followers on X who likes to stir the pot among Bitcoin maxis.

In discussion with Binance co-founder Changpeng Zhao (aka CZ) attended Binance Blockchain Week. Schiff advocated tokenized gold over Bitcoin as a long-term store of value and inflation hedge. He argued that tokenizing gold takes full advantage of what the commodity has to offer and stores it on the blockchain.

CZ hands Schiff a piece of gold.

The controversy made headlines after CZ showed a piece of gold on stage and asked Schiff to determine if it was gold.

“If I give you a bitcoin right now, you can check in a number of ways to see if you received it,” CZ said. “It settles on-chain immediately and transparently.”

CZ handed Schiff a gold bar.

“It says Kyrgyzstan, 1,000 grams, pure gold, 999.9, serial number,” CZ said, then asked Schiff if it was real gold.

“I don’t know.” Schiff answered.

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