Bitcoin Was a Trump Trade... Now the Democrats Are Coming for Crypto
Bitcoin Was a Trump Trade... Now the Democrats Are Coming for Crypto  
Podcast: The Peter Schiff Show Podcast
Published On: Sat Nov 07 2026
Description: Democrats took Texas and the Senate... Peter Schiff explains why 2028 is lost for the GOP, why deficits explode, and why gold is the only winner.📢 Please Support Our Sponsors:- Proton Pass. Go to https://proton.me/peter to get 50% off, backed by a 30-day money-back guarantee.The Democrats just took the Senate and flipped Texas... and Peter says the markets still have no idea what comes next.Peter Schiff called the sweep a day before the vote, and the result was bigger than even he expected: nine Senate seats flipped, 56 Democratic senators, 44 to 45 House seats, and Texas electing its first Democratic governor in 36 years. No Republican has won the White House without Texas since 1968. Peter explains why that sets up a Democratic socialist president in 2028 with a filibuster-proof Senate, and why Trump, punished by voters for lying about the economy, will taco out of his veto pen and hand the Democrats every dollar of spending they want. Deficits explode, the debt ceiling goes, and $5,000 stimmy checks are back on the table.Then the market read: a 1,400-point rally that reversed into a 2,000-point drop as the AI trade cracked, Nasdaq down 4% on the week, while gold held $4,070, silver 51.82, and the miners jumped 9.6%. Bitcoin is sitting on Strategy's cost basis after six years, and Peter says the Trump trade that propped it up is finished. Plus the jobs report, consumer credit exploding because people are broke, and why Fox News still can't admit there is no Trump boom.Chapters:00:00 Deficits Inflation Warning01:01 Midterm Prediction Recap02:33 Why Trump Won 201606:33 Promises vs Reality08:57 Ballroom and War Backlash12:24 Historic Democratic Wave18:27 Texas Florida Shift24:25 2028 Landslide Forecast29:12 Veto Myth Spending Surge32:23 Spending Surge Ahead33:48 California Wealth Tax Reality36:00 Wall Street Whiplash37:10 AI Bubble Deflates39:30 Gold Silver Breakout41:37 Bitcoin Warning Signs45:23 Trump Trades Unwind51:01 Debt Ceiling and Price Caps52:34 Oil War and GOP Fallout55:34 Jobs Data and Credit Stress01:00:55 Protect Yourself Plan01:02:28 Final Sign OffFollow @peterschiffX: https://twitter.com/peterschiffInstagram: https://instagram.com/peterschiffTikTok: https://tiktok.com/@peterschiffofficialFacebook: https://facebook.com/peterschiffFree Reports & Market Updates: https://www.europac.comBook Store: https://schiffradio.com/booksSign up for Peter's most valuable insights at https://schiffsovereign.comSchiff Gold News: https://www.schiffgold.com/newsOur Sponsors:* Check out Plaud AI and use my code GOLD for a great deal: https://www.plaud.aiPrivacy & Opt-Out: https://redcircle.com/privacy