Peter Schiff Warns of Historic Economic Collapse
- Peter Schiff warns of a US economic collapse.
- He predicts a dollar crash leading to inflationary depression.
- Gold and silver surge as safe havens amid dollar weakness.
Economist Peter Schiff warns of an impending US economic collapse due to a dollar crash in a recent interview, predicting hyperinflation and a collapse worse than 2008.
His warning highlights concerns over US debt levels and fiscal policy, with surging gold and silver prices indicating market anxiety. No immediate impacts on cryptocurrencies reported.
Peter Schiff, CEO of Euro Pacific Asset Management, has issued a warning about a potential US economic collapse, focusing on a crash in the dollar rather than stock markets. He describes the situation as an “inflationary depression.”
Schiff’s prediction arises from a $1.74 trillion budget deficit and over $37 trillion national debt. He highlights central banks shifting from US Treasuries to gold, contributing to a significant dollar decline.
Schiff’s warning impacts investor sentiment and could influence financial markets towards safe havens like gold, currently rising in value. This scenario might induce changes in economic strategies globally.
Potential consequences include heightened fiscal pressure on governments, possible inflation surges, and a pivot towards more stable assets. Gold’s price surge underscores ongoing economic concerns.
The political landscape could face pressure as policymakers address economic forecasts. Schiff mentions de-dollarization trends post-2022, attributing it to US asset freezes on Russia, potentially ending the dollar‘s reserve status. “I see a prolonged weak growth, high deficits, and reliance on imports over production—exacerbated by post-2022 de-dollarization after US asset freezes on Russia.” – Peter Schiff, source
While Schiff’s warning does not directly cite cryptocurrencies like BTC or ETH, it highlights significant market shifts away from the US dollar, possibly affecting the broader crypto ecosystem indirectly.
