$112 Oil, Crashing Wages, and the War Nobody Can Afford

Oil hits $112 as Trump vows to bomb Iran into the Stone Age — and the jobs data everyone's celebrating is hiding a collapsing labor market. • Today’s podcasts is sponsored by Pebl. Go to to get a free estimate. • Today’s podcast is also sponsored by West Red Lake Gold Mines. Ticker WRLGF Peter Schiff records from the British Virgin Islands, breaking down the latest economic data against the backdrop of the escalating Iran war. The March jobs report showed 178,000 jobs added — well above the 51,000 estimate — but Schiff argues the number is misleading, noting that 43% of new jobs were in healthcare, a sign of a sicker nation rather than a stronger economy. He highlights the weakest wage growth in five years at 3.5% year-over-year and the lowest labor force participation in five years at 61.9%. Oil prices surged to $112 per barrel amid Trump's pledge to "bomb Iran back to the Stone Age" over the next two to three weeks, with the service sector PMI falling into contraction at 49.8. Schiff warns that stagflation is now undeniable and that oil-driven inflation will force massive government spending and money printing, ultimately crushing the dollar and sending gold well above $5,000. He criticizes Trump's economic lies, the Supreme Court's ruling striking down Liberation Day tariffs as unconstitutional, Warren Buffett's Fed praise, and growing redemption freezes across investment funds as signs of a brewing financial crisis. Chapters: 00:00 Cold Open and Intro 00:54 Vacation Setup and Holiday Markets 01:52 March Jobs Report Breakdown 06:44 Stagflation Signals in PMI and JOLTS 08:53 Oil Spike and Fed Policy Link 17:02 Weekly Market Wrap Gold Silver Miners 21:33 Trump Speech War Escalation Fears 30:18 Aftermath Leaving Strait to Allies 32:27 NATO Exit Debate 33:39 Dollar Risks and Metals 34:11 Springsteen Boycott Rant 36:27 Liberation Day Reality Check 37:47 Tariffs Ruled Unconstitutional 40:52 Funds Freeze Redemptions 43:39 Buffett on Inflation Targets 47:05 Fed Enabled Covid Policy 51:31 Trump Polls and Midterms 57:55 Prepare and Buy Gold 01:00:30 Podcast Wrap and Travel Follow @peterschiff X: Instagram: TikTok: Facebook: Free Reports & Market Updates: Book Store: Sign up for Peter's most valuable insights at Schiff Gold News: Our Sponsors: * Check out Fast Growing Trees and use my code GOLD for a great deal: * Check out Plaud AI and use my code GOLD for a great deal: * Check out Quince and use my code quince.com/gold for a great deal: * Check out TruDiagnostic and use my code GOLD20 for a great deal: Privacy & Opt-Out:

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$112 Oil, Crashing Wages, and the War Nobody Can Afford is an episode from The Peter Schiff Show Podcast by Peter Schiff.

This episode is 58:28 long.

This episode was published on Apr 4, 2026.

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