But the gold investor welcomed the president’s barbs, even inviting Trump “or his designee” to a debate on the state of the economy.
Schiff Is a ‘Loser’ and a ‘Jerk’: Trump’s Blunt Assessment
Few people genuinely enjoy playing the antagonist like economist and gold investor Peter Schiff. The 62-year-old stockbroker gained infamy after describing bitcoin as “a modern-day Tulipmania” during a 2013 CNBC interview. He has since touted himself as one of the cryptocurrency’s staunchest skeptics. But on Saturday, Schiff picked a new enemy: Donald Trump.
“Life is going to get a lot more unaffordable under Trump than it was under Biden,” Schiff said during a Fox interview. “The biggest problem is the runaway government spending continuing under this administration.”
Read more: Layoffs Are Approaching 1.2 Million, the Worst Since the 2009 ‘Great Recession’
Trump is probably bitcoin’s most famous proponent, and Schiff knows this. So when the infamous gold bug blasted the president on live television, it may have had less to do with Trump’s management of the economy than his public support for the cryptocurrency. By invoking former president Joe Biden, who Trump has called “the worst president in history” numerous times, Schiff wanted to hit Trump where it hurts, and it worked.
“Biden caused the AFFORDABILITY CRISIS, I’M FIXING IT, along with everything else!” the president fired back on Truth Social. “Why would Fox and Friends Weekend (of all things?) put on a ‘Stockbroker’ named Peter Schiff, a Trump hating loser who has already proven to be wrong.”
The president then touted his record on curbing illegal immigration and lowering gas prices before dismissing Schiff as “a jerk.” But the financial commentator relished the moment, even inviting Trump, or anyone from his administration, to a debate on the economy.
“Since Pres. Trump called me a jerk and a loser for claiming that prices are still rising when he insists they’re coming way down, I challenge him, or his designee, to a debate on the U.S. economy and the efficacy of his policies,” Schiff wrote, less than two hours after the president’s comments. “If I’m as wrong as he says I am, let him prove it.” Trump had not yet responded at the time of reporting.
FAQ ⚡
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Why is Peter Schiff feuding with President Trump?
Schiff criticized Trump’s economic record on Fox News, prompting Trump to fire back and label him a “loser” and a “jerk.” -
Why did Schiff target Trump now?
Many observers think Schiff’s criticism was aimed at Trump’s strong support for bitcoin, which Schiff has opposed for over a decade. -
How did President Trump respond to Schiff’s remarks?
Trump blasted Schiff on Truth Social, defended his affordability agenda, and accused Schiff of being consistently wrong. -
What did Schiff do after Trump attacked him?
Schiff publicly challenged Trump, or any administration representative, to a debate on the economy to prove who is right.