Peter Schiff recently appeared on Mark Dice’s show to talk about the looming financial crisis. Peter explains why a dollar crash is on the horizon and what the average person can do to keep from getting wiped out by the inflation tax.
In the months leading up to the 2008 financial crisis, Peter warned it was looming. Today, he is warning about the far greater financial crisis that is going to finally result from the giant bubble that the Federal Reserve and government policy pumped up in the aftermath of ’08.
The printing presses are running at full speed as the Federal Reserve creates money out of thin air at an unprecedented rate. Peter Schiff recently appeared on Kitco News to talk about the impact of all money-printing, borrowing and government spending. Somebody has to pay for this and we all will. In fact, a lot of people will be wiped out by the inflation tax.
As if there weren’t enough headwinds for the economy already, the Washington Post reported the Trump administration was exploring the possibility of canceling some US debt obligations to China. President Trump denied it but floated the idea of tariffs on Chinese imports as punishments for that country’s handling of the coronavirus. Peter Schiff appeared on RT Boom Bust to talk about the economic saber-rattling and the possible impacts on the US stock market.
Earnings reports started coming in last week. It was a mixed bag, with some companies showing the negative impacts of the coronavirus-induced government shutdowns, but other companies coming in more upbeat. Peter Schiff appeared on RT Boom Bust to talk about it. He said the only thing the stock markets have going for them right now is the Federal Reserve. But one sector will truly benefit – gold.
Peter Schiff recently appeared on Newsmax The Income Generation with David Scranton to talk about the impacts of the coronavirus government shutdown on the economy. The segment turned into a somewhat contentious debate about inflation. Guest host Jeff Small insisted we aren’t going to see price inflation, despite the Federal Reserve creating trillions of dollars out of thin air. Peter said Small’s ideas are divorced from economic reality.
The federal government is borrowing and spending trillions to bail out everybody. The Federal Reserve is enabling this by printing trillions of dollars out of thin air. On a recent InfoWars interview, Peter Schiff asked the question nobody seems to be grappling with: who’s going to pay for all this? Peter reminds us that ultimately we pay – either through taxation or inflation.
Venture capitalist Chamath Palihapitiya made waves when he said during a CNBC interview that the government should not bail out companies impacted by the coronavirus shutdowns. “On Main Street today, people are getting wiped out. Right now, rich CEOs are not, boards that have horrible governance are not,” he said. “What we’ve done is disproportionately prop up poor-performing CEOs and boards, and you have to wash these people out.”
During an interview on RT, Peter Schiff said he’s been saying the same thing since day one.
There seems to be some optimism in the markets that the end of the coronavirus shutdown is getting closer. There is also this persistent myth that the economy will just fire back up at the snap of a finger. Peter Schiff recently appeared on RT Boom Bust along with Christy Ai to talk about the markets and the pandemic. He said people are still far too focused on the pin and not the bubble that it popped.
Oil prices crashed early this week as Russia and Saudi Arabia launched a full-blown price war. The big drop in the price of oil pulled stocks down yet again, with the Dow Jones losing over 2,000 points. But in an interview on RT, Peter Schiff said he thought the drop in oil would prove to be short-lived because ultimately the dollar is going to collapse.