Donald Trump labeled Peter Schiff a “loser” and a “jerk” after the Bitcoin critic said US prices will continue to rise.
Trump’s broadside followed that of the economist comments in a Fox News interview, when he presented the The biggest problem facing the US government now is “excessive” spending.
He added that he expects Trump to address the country’s deficit through interest rate cuts and a general “return to quantitative easing.”
“And that just means that life under Trump is going to be a lot more unaffordable than under Biden,” he said.
He predicted that the inflation rate “will accelerate as Trump’s term progresses” and said his policies “continue to impact prices.”
“Most other prices are higher,” he added. “Yes, they may not be increasing at 9% per year yet, but they will continue to increase.”
Trump says he’s fixing Biden’s mistakes
Outraged by Schiff’s comments, Trump launched a blistering attack on his Truth Social platform.
“Why would Fox and Friends Weekend (of all people?) set up a ‘stock broker’ named Peter Schiff, a Trump-hating loser who has already been proven wrong,” Trump said. said.
“He thinks prices are going up, when in fact they’re going down substantially,” Trump added, pointing to the price of gasoline recently hitting $1.99 a gallon. “Other prices have almost all fallen,” he added.
Trump said former President Joe Biden created the current affordability crisis and he is trying to solve it.
While it is true that gasoline prices have fallen, inflation remains on an upward trajectory, with the US Consumer Price Index (CPI) rising 3% in September from a year earlier.
Schiff fires back
Schiff acknowledged in a follow-up post to
He also said Biden “had a lot of help in causing the ‘affordability crisis,’ including from Trump during his first term.”
“He’s not fixing it,” he said. “He makes it worse.”
Busy. Trump called me a loser, a jerk and a Trump hater for telling the Fox audience the truth about the rising cost of living. Biden had a lot of help in causing the “affordability crisis,” including from Trump during his first term, and he is not solving it, he is making it worse. pic.twitter.com/IK7POAN2ye
— Peter Schiff (@PeterSchiff) December 6, 2025
“Since President Trump called me a jerk and a loser for claiming that prices are still rising while he insists they are falling significantly, I challenge him, or his designee, to a debate on the American economy and the effectiveness of his policies,” he said. “If I’m as wrong as he says, let him prove it.”
He then added that “given how much Trump hates the truth, I think he should change the name of his social media platform to Lie Social.”
Housing affordability
Schiff also criticized housing policies, saying housing unaffordability is “a direct result of government efforts to make housing more affordable.”
“But it has had a counterproductive effect, like everything the government does,” he said. “The only solution to the housing affordability problem is for the government to get out of the way and let house prices fall, which they will do.”
But he warned this would result in a new financial crisis as it would leave many homeowners unable to pay their mortgages.
Turbulent week for Schiff after CZ feuded during Binance Blockchain Week
It’s been a turbulent week for Schiff, an economist with 1.2 million followers on
During a debate with Bco-founder of finance Changpeng Zhao, also known as CZ, at the Binance Blockchain Week, Schiff defended tokenized gold over Bitcoin as a long-term store of value and inflation hedge. He argued that tokenizing gold puts the best of what the commodity has to offer on the blockchain.
The debate made headlines after CZ produced a piece of gold on stage and asked Schiff to verify if it was gold.
“If I give you Bitcoin now, we can verify that you received it in several ways,” CZ said. “It is handled directly and transparently in the chain.”
CZ then presented Schiff with a gold bar.
“It says Kyrgyzstan, 1,000 grams, fine gold, 999.9, and a serial number,” CZ said, then asked Schiff if it was real gold.
“I don’t know,” Schiff replied.
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