Economist Peter Schiff Signals Impending Historic Crash for U.S. Dollar
Economist Peter Schiff is sounding the alarm, predicting a “historic crash” for the U.S. dollar, dismissing any hopes for a soft landing and anticipating a scenario of “crash & burn” for the U.S. economy.
Schiff highlights the risks of increased inflation, surging interest rates, and elevated unemployment, emphasizing that the economy is weaker than the Federal Reserve perceives. He asserts that the dollar’s decline is inevitable and foresees a global shift to gold as a more reliable alternative. Schiff, known for his consistent warnings, contends that government spending isn’t reflective of genuine economic growth and will contribute to higher inflation.
Bond investors, he cautions, should be wary as the economy weakens, leading to larger budget deficits and heightened inflation. Schiff’s longstanding concerns encompass a potential severe recession, an inflationary depression, and an “unprecedented” financial crisis, warning of a rush to exit the U.S. dollar amid a looming “massive crisis.”
Clever Robot News Desk 1st December 2023