Economist Peter Schiff Slams Saylor as a ‘Con Man’ and Tariffs as a ‘Consumer Tax’

• Schiff argues that tariffs on imported goods don’t disadvantage foreign exporters relative to each other, as they all effectively face the same tariff barrier
• He accused the CNBC hosts of giving Saylor an easy platform without enough pushback, labeling Michael Saylor a con man
• Schiff has a longstanding record of attacking Bitcoin advocates and specifically Saylor’s market influence

In his latest X posts, stockbroker, financial commentator, and economist Peter Schiff sparked an online debate about the tariffs imposed by the US government. He argues that tariffs on imported goods don’t disadvantage foreign exporters relative to each other, as they all effectively face the same tariff barrier.

Therefore, US consumers end up paying these tariffs unless they buy domestic alternatives. According to Schiff, such US-made substitutes rarely exist at price points competitive with imported goods.

Schiff’s Argument on Tariffs and Saylor

Schiff regularly frames tariffs as a de facto tax on American consumers, especially when importers can’t fully pass the tariff costs onto suppliers.

Shortly afterwards, he also commented on Michael Saylor’s interview on CNBC. Schiff accused the hosts of giving Saylor an easy platform without enough pushback, labeling Saylor a con man and criticising both Saylor’s claims and the network’s journalistic balance.

Naturally, this ignited a dispute between X users, with some pointing out Saylor’s successful track record. Schiff rebutted that con men can achieve great success, particularly when they have a compelling scheme and a large number of naive and greedy targets.

A Bitcoin contrarian

Schiff has always been a vocal gold bull and Bitcoin skeptic for over a decade, so him calling Saylor (who is arguably the most prominent corporate Bitcoin bull) a con man might not be that much of a surprise, particularly considering their long-standing feud.

He has a longstanding record of attacking Bitcoin advocates and specifically Saylor’s market influence. For instance, some time ago, he called Saylor’s $13 million Bitcoin price prediction a bunch of nonsense.

Interestingly, while Schiff explicitly attacks Bitcoin and its advocates, his core economic philosophy (distrust in fiat, opposition to inflationary policies, concern over debt, and trade skepticism) unintentionally fuels the same distrust that pushes people toward crypto.

It’s not far off to say that every time Schiff attacks Bitcoin, it often galvanizes the crypto community, strengthening the ‘us versus them’ identity among Bitcoin holders and reinforcing BTC as an anti-establishment asset.

Even though Schiff champions gold, younger generations often find Bitcoin more accessible, borderless, and transparent, meaning Schiff’s fears may help fuel crypto adoption despite his intentions.