--- title: "Peter Schiff warns 2026: The Federal Reserve's invisible QE restarts, silver skyrockets, releasing strong signals of a monetary crisis" type: "News" locale: "zh-CN" url: "https://longbridge.com/zh-CN/news/270757146.md" description: "Economist Peter Schiff warns that the Federal Reserve's invisible QE restart could lead to a surge in silver prices and a currency crisis. He points out that the Fed's bond-buying program marks a new phase of debt monetization, reflecting pressure on the financial system. Schiff believes the Fed's balance sheet could exceed $10 trillion by 2026 and warns of vulnerabilities in the banking sector. Trump rebuts Schiff's inflation warnings, calling them \"hatred of Trump.\"" datetime: "2025-12-25T00:10:32.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/270757146.md) - [en](https://longbridge.com/en/news/270757146.md) - [zh-HK](https://longbridge.com/zh-HK/news/270757146.md) --- > 支持的语言: [English](https://longbridge.com/en/news/270757146.md) | [繁體中文](https://longbridge.com/zh-HK/news/270757146.md) # Peter Schiff warns 2026: The Federal Reserve's invisible QE restarts, silver skyrockets, releasing strong signals of a monetary crisis As the market moves towards 2026, economist and precious metals trader Peter Schiff stated that **the Federal Reserve has quietly returned to policies that once stimulated past inflation crises**, even though political leaders are still publicly debating whether inflation remains a problem. This debate has recently evolved into a highly publicized exchange between Schiff and President Trump, **highlighting the widening gap between official information and market signals**. Peter Schiff, chief economist at Euro Pacific Capital, said in an interview with Kitco News that **the Federal Reserve's new plan to purchase $40 billion in U.S. Treasury bonds each month marks a new phase of debt monetization, which is reshaping inflation expectations, the precious metals market, and investor behavior.** "I don't care what they call it," Schiff said, "this is debt monetization, this is inflation." ## The Fed's Bond Purchase Plan Reveals Deeper Financial Pressures Schiff believes that **the return of balance sheet expansion reflects pressures beneath the surface of the financial system, particularly in the banking sector.** Although the current plan focuses on short-term Treasury bonds, he expects both its scale and duration to be extended. "At some point next year, possibly even in the first half, they will ultimately expand the scale to over $40 billion and extend the maturities of the bonds they purchase," he said. He argues that the Fed's reluctance to call this plan quantitative easing reflects its credibility issues, as acknowledging a return to quantitative easing would mean the economy has become dependent on permanent monetary creation. "It's like a habit we can never kick," Schiff added, noting that after peaking at nearly $8 trillion in the last cycle, **the Fed's balance sheet could exceed $10 trillion by 2026.** Schiff also warned that the vulnerabilities in the banking sector are greater than overall data suggests, pointing out that a significant amount of unrealized losses have yet to be accounted for, and that Treasury bond purchases may be acting as a backstop rather than a conventional liquidity operation. ## Trump Rebuts Schiff's Inflation Warnings Schiff's inflation warnings drew a direct response from Trump. After Schiff appeared on the "Fox and Friends Weekend" program earlier this month, Trump posted on Truth Social on December 6, criticizing him **as a "loser who hates Trump" and a "jerk,"** while rebutting claims of rising prices. Trump pointed out that gas prices in some states have dropped to $1.99 per gallon and stated that prices are "coming down significantly." Schiff countered this assertion, arguing that focusing on fuel prices ignores broader affordability pressures. "Inflation is rising," Schiff said, adding that **"it has almost no chance of going down, it will only go up."** He cited rising rents, insurance, and service costs as evidence that inflation remains rooted in the economy. In publicly responding to Trump's remarks, Schiff stated that inflation is driven by policy choices made by successive governments, rather than political rhetoric. "Biden has received a lot of 'help' in triggering the 'affordability crisis,' including contributions from Trump during his first term, and he has not solved the problem but rather exacerbated it," Schiff said He concluded that the broader issue lies not in rhetoric but in monetary policy, warning that regardless of contrary claims, **interest rate cuts and a renewed expansion of the balance sheet could push inflation higher in 2026**. ## Silver Breakthrough Signals Monetary Pressure Release Schiff stated that the sharp movement of silver prices breaking above $66 per ounce reflects the demand driven by monetary and supply factors finally giving way to prices that have been suppressed for years. He pointed out that breaking through $50 is a decisive technical event and claimed that **once silver reaches $50, "there will be no resistance."** Looking ahead to 2026, **Schiff referred to a $100 silver target as "a very realistic goal," adding that prices could be higher if monetary instability worsens. He also expects gold to reach at least $5,000**, noting that the growth of silver often signals deeper pressures within the financial system. He believes that the massive retail capital flowing into digital assets over the past decade has come at the expense of gold and silver. He stated that this dynamic is reversing as precious metals begin to outperform. He noted that the resurgence of gold and silver reflects a rotation of capital from speculative narratives more broadly into tangible assets. ## Mining Stocks Lag Behind Record Profits Despite strong performance in precious metal stocks in 2025, Schiff stated that mining stocks remain undervalued relative to current metal prices. He emphasized that profit margins are at historical highs, pointing out that many producers mine gold at costs close to $1,500 per ounce but sell it for over $4,300. "Even if metal prices pull back, the levels they retreat to are still far above the prices reflected by these stocks," Schiff said. He expects earnings growth in 2026 to force the entire industry to reprice. Schiff cited increased dividends, stock buybacks, and potential mergers and acquisitions as key catalysts, particularly among junior and mid-tier miners. He believes that large producers may find it more economical to acquire proven deposits than to fund new exploration and development, creating opportunities downstream in the mining supply chain. ## Dollar Risks and Potential Triggers in 2026 Looking ahead, **Schiff stated that the biggest risk in 2026 is a loss of confidence in the fiscal and monetary credibility of the United States.** He pointed out that the possibility of failed U.S. Treasury auctions is a potential catalyst that could force the Federal Reserve to intervene more aggressively as the last buyer. While specific triggers cannot be predicted, Schiff emphasized the importance of positioning oneself in advance. "You must have already fundamentally exited the dollar," Schiff said, so that "when the crisis occurs, you don't have to scramble." He also noted that if capital outflows accelerate, policymakers may attempt to implement controls, which he believes would further boost demand for physical gold and silver held outside the financial system. **Schiff stated that 2026 is gradually becoming a year characterized by inflation volatility, balance sheet expansion, and capital flowing out of crowded trades.** As political rhetoric collides with market signals, **he expects precious metals and mining stocks to play a central role as investors navigate the next cycle.** ### 相关股票 - [Pro Ultr Silver (AGQ.US)](https://longbridge.com/zh-CN/quote/AGQ.US.md) - [iShares Silver Tr (SLV.US)](https://longbridge.com/zh-CN/quote/SLV.US.md) ## 相关资讯与研究 - [What are the most profitable ways to sell your silver investments?](https://longbridge.com/zh-CN/news/281562543.md) - [The DeCarley Perspective...We weren’t kidding when we said, “They are game-stopping silver.”](https://longbridge.com/zh-CN/news/281551815.md) - [Trump: I think we'll make a deal with them pretty soon…](https://longbridge.com/zh-CN/news/280929294.md) - [Report reveals inflation will come roaring back under Trump](https://longbridge.com/zh-CN/news/281421192.md) - [Analysis: Trump's Iran speech ignores the risks of a return to the 1970s](https://longbridge.com/zh-CN/news/281429917.md)