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

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

Trump’s broadside followed that of the economist Remarks in an interview with Fox News, when he stated that The biggest problem facing the US government now is “excessive” spending.

He added that he expects Trump to address the nation’s deficit through interest rate cuts and a “global return to quantitative easing.”

“And all this means is that life is going to become much more unaffordable under Trump than it was under Biden,” he said.

He predicted that the inflation rate would “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 9% per year yet, but they are still increasing.”

Trump says he’s correcting Biden’s mistakes

Outraged by Schiff’s remarks, Trump launched a scathing attack on his Truth Social platform.

“Why would Fox and Friends Weekend (of all things?) feature a ‘stockbroker’ named Peter Schiff, a Trump-hating loser who has already been proven wrong,” Trump said.

“He thinks prices are going up when in fact they’re going down significantly,” Trump added, noting that the price of gasoline recently hit $1.99 a gallon. “The other prices are almost all down,” he added.

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

While it is true that gasoline prices have fallen, inflation remains on an upward trajectory, with the U.S. Consumer Price Index (CPI) up 3% in September from a year earlier.

Schiff hits back

Schiff acknowledged in a follow-up article on X that some prices, including gasoline, might be lower now, but said he wasn’t sure for how much longer.

He also said Biden had “a lot of help in causing the ‘affordability crisis,’ including from Trump during his first term.”

“It doesn’t fix it,” he said. “It just makes things worse.”

Close. Trump called me a loser, a fool, and a hater for telling the Fox audience the truth about the rising cost of living. Biden got a lot of help in causing the “affordability crisis,” including from Trump in his first term, and he’s not fixing it, he’s making it worse. pic.twitter.com/IK7POAN2ye

-Peter Schiff (@PeterSchiff) December 6, 2025

“Since President Trump called me a fool and a loser for claiming that prices continue to rise while he insists they are falling dramatically, I challenge him or his representative to participate in 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 has also criticized housing policies, saying housing unaffordability is “a direct consequence of the efforts made by the government with several administrations to try to make housing more affordable”.

“But it backfired, like everything the government does,” he said. “The only solution to the housing affordability problem is for the government to stand down and let house prices fall, which they will do. »

But he warned it would lead to another financial crisis as it would lead to many homeowners defaulting on their mortgages.

Turbulent week for Schiff after CZ row at Binance Blockchain Week

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

During a debate with BInance co-founder Changpeng Zhao, aka CZ, at Binance Blockchain Week, Schiff has championed tokenized gold over Bitcoin as a long-term store of value and inflation hedge. He argued that gold tokenization takes the best of what the product has to offer and puts it on the blockchain.

The debate made headlines after CZ produced a gold coin on stage and asked Schiff to verify if it was indeed gold.

“If I give you Bitcoin now, there are several ways we can verify that you received it,” CZ said. “It installs instantly and seamlessly on the channel.”

CZ then presented Schiff with a gold bar.

“It says Kyrgyzstan, 1,000 grams, fine gold, 999.9 and a serial number,” CZ said, before asking Schiff if it was real gold.

“I don’t know,” Schiff replied.

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