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

Peter Schiff: Hyperinflation Is the Most Probable Scenario

  by    0   5

March 23 was Peter Schiff’s birthday. It was also the day the Federal Reserve announced QE Infinity. So, Peter spent over three hours hosting a live videocast talking about the latest Fed moves, the potential impact on the economy and answering questions from viewers.

Peter said he was hoping to combat the rampant economic ignorance that is pretty much everywhere.

There’s probably one thing that is spreading right now throughout the country faster than the coronavirus and that is economic ignorance and misinformation. It’s all over the place. It’s gone completely viral … The best thing anybody can do to combat the virus of ignorance is to turn off their television sets or their computers and don’t listen to anything that is being said in conventional media, whether it’s a news-related channel or a financial channel, I can virtually assure you that every single thing that you’re hearing is wrong.”

Peter hammered on a number of central themes you won’t hear discussed in the mainstream. For one thing, the Federal Reserve and the US government are repeating the mistakes of 2008.

Peter reminds us that as the crisis unfolded in ’08, he warned that the policies of bailouts and monetary stimulus were a mistake and that they would lead to a bigger crisis in the future.

Well, welcome to the future.”

He also emphasized that this isn’t about the coronavirus. The virus pricked a bubble that was inflated long ago. The economic chaos we’re seeing today started long before the virus reared its ugly head.

Everybody wants us to go back to normal, the way things were before anybody heard the word coronavirus of COVID-19. But you know what? We weren’t normal back then. The economy was sick before the virus infected us. It was a bubble. There was nothing normal about that bubble. And the problem with bubbles is once they pop, they’re not going to reflate. You need a new bubble. You need a bigger bubble. That’s what the Fed did. They inflated the NASDAQ bubble. That popped. They inflated a bigger bubble in housing. That popped. And then they inflated a bubble in everything. Well, everything has already been in a bubble. There’s nothing left to bubble up. It’s over.”

Peter also warned about what’s coming down the pike with all of this money being injected into the economy.

They are going to unleash a tsunami of inflation.”

And people losing their money in this crisis is going to be the least of the problems.

What we’re going to suffer as an economy is far worse than losing your money. Because you know what’s worse than losing your money? Having your money but your money losing it’s purchasing power. That is the worst thing that can happen and that is what’s going to happen. Hyperinflation has gone from the worst-case scenario to the most probable scenario. And that means people have to act quickly to protect themselves.”

Peter spent a lot of time taking questions from viewers. This is a great opportunity to get some economic analysis you’re not going to see on CNBC or Fox Business.

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

Peter Schiff: Give the Government an Inch; It Takes a Million Miles

The Joe Biden administration got underway last week. The newly inaugurated issued a flurry of executive orders, many of them relating to the economy. In his podcast, Peter Schiff talked about the potential impact of these EOs. He said it looks like Americans voted for Joe Biden, but they ended up with Bernie Sanders.

READ MORE →

Peter Schiff: Biden Takes the Helm of a Sinking Ship

Joe Biden was inaugurated on Jan. 20, becoming the 46th president of the United States. And as Peter Schiff put it in his podcast, he took the helm of a sinking ship.

READ MORE →

Peter Schiff: Economic “Rescue” Plan Like Throwing a Drowning Man an Anchor

President-elect Joe Biden unveiled his massive stimulus plan last week touted as the “American Rescue Plan.” In his podcast, Peter Schiff said it was more like throwing a drowning man an anchor.

READ MORE →

Peter Schiff: Commodity Boom Isn’t About Economic Growth; It’s About Inflation

Commodities are booming. A lot of people seem to think this is a sign of pending economic growth. But in his podcast, Peter Schiff said it’s really a sign of inflation. Most of the investment world continues to focus on the stock market and they’re not really paying attention to what going on in the […]

READ MORE →

Peter Schiff: Congress Is the Real Threat, Not Protests

Somewhat lost in the chaos of the DC protests was the fact that Democrats won both Georgia Senate runoff races. That effectively gives the Democrats control of both houses of Congress. In his podcast, Peter Schiff made the case that Congress is the real threat to America, not the protesters who broke into the Capitol […]

READ MORE →

Comments are closed.

Call Now