Contact us
CALL US NOW 1-888-GOLD-160
(1-888-465-3160)

Peter Schiff: The Dollar Is Not Just Going Down; It’s Going to Crash

  by    0   3

As gold was closing in on its all-time record price last week, Peter Schiff appeared on the Claman Countdown and warned about the looming dollar crisis.

Claman set up the interview pointing out that Peter predicted this big move up in gold months ago and asked, “What’s your new prediction about the dollar?”

Peter said it’s not really a new prediction, but perhaps it’s more timely.

The dollar’s not just going down. It is going to crash.”

Prior to the interview, Claman mentioned that the Dow was up, but Peter said there is another way to look at it.

Priced in real money, gold and silver, the Dow is actually down. And what gold is telling you, and silver, is that the dollar is losing value. It’s losing purchasing power.”

The dollar had been drifting lower against other fiat currencies over the past several weeks. At the time of the interview, the dollar index was just a few ticks off its March low.

But I think the dollar is going to keep drifting down until it collapses,” Peter said.  “And this is going to usher in a real economic crisis in America, unlike something we’ve ever seen. Because it’s going to force the Fed to choose between saving the dollar, and dumping all the bonds its been buying, letting interest rates rise sharply, forcing the US government to slash spending right now and abandon all these stimulus plans, or just let inflation ravage the entire economy and wipe out a generation of Americans.”

Claman asked Peter what is the trade given what’s coming down the pike. Peter said his advice is “to get out of Dodge.”

Get out of dollars. Number one, yeah, own gold and silver. The gold and silver mining stocks are killing it, but they’re just getting started. I mean, these stocks, I think, can go up 10, 20 times in dollar terms.”

Peter also recommended foreign stocks that derive their revenues outside the US and earn them in foreign currencies, not US dollars. They can return those appreciated foreign currencies to you in dividends that avoid the inflation tax.

Forget about the payroll tax. The real tax that’s going to clobber every American is inflation because that’s how the government is now funding its spending is through inflation. And inflation is a tax on anybody who owns US dollars.”

Get Peter Schiff’s key gold headlines in your inbox every week – click here – for a free subscription to his exclusive weekly email updates.
Interested in learning how to buy gold and buy silver?
Call 1-888-GOLD-160 and speak with a Precious Metals Specialist today!

Related Posts

Jim Grant: Confidently Bullish on Gold and Silver

Jim Grant has long been skeptical of the mechanization of the Federal Reserve. He was warning about the distortions created in the markets and broader economy caused by the central bank’s monetary policy long before the monetary Hail Mary it threw up in response to the coronavirus pandemic. Last month, Grant wrote an op-ed for […]

READ MORE →

Peter Schiff and Johnny Bravo: The End of the Dollar Standard

Peter Schiff recently did an interview with Johnny Bravo. They talked about the gold standard, inflation, the looming dollar crisis, presidential politics, and the foolishness of Modern monetary theory. Johnny opened up the show declaring that governments will never allow a gold standard. They hate gold. He asked Peter, why?

READ MORE →

Peter Schiff on the Joe Rogan Experience

Peter Schiff appeared on the Joe Rogan Experience this week. The wide-ranging, three-hour interview covered a number of topics, including a critique of socialism, the 2020 presidential election, the recent social unrest and how to fix troubled communities, how the minimum wage hurts workers, and the economic impacts of the coronavirus.

READ MORE →

Peter Schiff: How to Avoid Getting Wiped Out by the Inflation Tax

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 […]

READ MORE →

Peter Schiff: Silver Is Poised to Set Records

Last week, Peter Schiff appeared on RT Boom Bust to talk about precious metals and the state of the economy. He said not only are the economic dynamics bullish for gold, but silver is also poised to break records.

READ MORE →

Comments are closed.

Call Now