THEY SAID IRAN CAUSED THE INFLATION.

THEY LIED.

Dear Reader,

TRUMP SAID “I LOVE THE INFLATION.”

Not kidding. Not paraphrasing. On June 10, staring at a 4.2% CPI reading, the worst in three years, the President of the United States said: “No, I love it, the numbers were great.”

He blamed Iran. Said the energy prices drove it all. Said once the Strait of Hormuz opened, everything would calm down.

The Strait of Hormuz DOES open on Friday. Oil has already crashed from $126 a barrel to $76. We are about to find out if he was right.

In Today's Issue:

• Why CPI was already rising before the first U.S. missile hit Iran

• What the “Inflation Comes From Washington” thesis means for every dollar you hold

• The one asset that does not care what Washington blames this time

• Brownstone Research: The Oil Skimming strategy that collects whether crude spikes or crashes

Here is the data they are not showing you on CNBC this morning.

January 2026: CPI was 2.4%.

February: still 2.4%.

March: jumped to 3.3%.

April: 3.8%.

May: 4.2%. Three-year high.

Operation Epic Fury launched February 28. The inflation was already moving before that. The war poured gasoline on a fire Washington had been lighting for years.

When oil drops back to $70 and gas prices fall this summer, the energy component of CPI will ease. But groceries are up 4%. Rent does not care about Hormuz. The $3,100 extra that American families spent on basics since January does not get refunded when the peace deal is signed in Switzerland.

Peter Schiff spent an entire podcast last week on one point. The title was the whole argument:

“Inflation Comes From Washington.”

Iran was the delivery mechanism. Washington printed the money.

I have seen this movie before. Every empire that debases its currency blames an external enemy. Rome blamed the barbarians for the economic collapse of the third century. They did not blame the 50% reduction in the silver content of their own coins. Different cast. Same script. Same ending.

Watch what happens Friday when Hormuz reopens. Gas prices fall. Oil slides. The Fed takes a bow. CNBC declares the inflation crisis solved.

But there is one number that does not care about Iran, does not drop when Trump signs a deal, and has been moving in one direction for 50 straight years. Let me show you what it is.

That number is the national debt. $36 trillion. It does not negotiate peace deals.

The Federal Reserve cannot raise rates enough to kill 4.2% inflation without blowing up the federal budget. The 10-year Treasury sits at 4.38%. Interest on the debt is already the single largest line item in the federal budget. They cannot afford to fight the inflation they caused.

So they let it run. They call it transitory. They call it Iran. They call it energy prices. They call it anything except what it actually is: financial repression. A slow, legal tax on every person who saves in dollars.

I have been saying for 40 years: savers are losers. Not as an insult. As a mathematical fact. When your currency loses 4.2% per year and your 10-year Treasury earns 4.38% before income taxes, you are not building wealth. You are treading water. Barely.

Gold hit an all-time high before the first U.S. missile landed in Iran. Gold is not tracking the war. Gold is tracking the dollar. It has tracked every currency debasement since Rome shaved silver off their coins 2,000 years ago. That pattern has never failed.

GET OUT OF PAPER. Get into real assets. Not because of Iran. Not because of Trump. Not because the war started or ended. Because the math does not change when the peace deal gets signed.

The Hormuz reopens Friday. The dollar does not fix itself on Friday.

To your freedom, Robert Kiyosaki

P.S. The $36 trillion debt does not disappear when Hormuz reopens. The Patriot Income Plan targets 9.4% annual income, backed by real assets, paid monthly, with zero dependence on Washington's behavior. Click here to see how it works.