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Peter Schiff: Government Tries to Replace the Economy With a Printing Press
AUGUST 25, 2020 BY SCHIFFGOLD
Peter Schiff recently spoke at the “virtual” Los Vegas Money Show and explained why we are near the endgame for the dollar.
Peter opened up his talk speculating that the Money Show could be close to the end of its run.
I think the money that most people have, or at least what they think is money isn’t going to be money much longer.”
What in the world is he talking about?
The looming dollar crisis.
The dollar is going to fall through the floor and inflation is going to ravish the United States. What’s about to happen is that the world is going to go off the dollar standard and go back to the gold standard. That is where we are headed.”
Peter warned that we’re about to see a loss of wealth on an unprecedented scale.
He reiterated that this isn’t about COVID-19. We were already on the cusp of a crisis. The coronavirus simply made it worse.
It’s one of many problems, but it’s not why we’re about to go through this massive economic collapse. But it is the monetary and fiscal policy response to COVID-19. The government’s cure is what’s going to kill the economy.”
In fact, the problems started long before the pandemic. As Peter reminds us, interest rate cuts and QE were already ongoing before the government shutdowns started last March. In fact, it goes back much further than that.
Click here for reuse options!Everything the US government did in the aftermath of the 2008 financial crisis was a mistake. All the monetary policy was wrong. All the fiscal policy was wrong. As a consequence, we never actually recovered from that crisis. We simply made all of the problems that caused that crisis worse. And of course, the crisis was caused by the Fed, by the government, using the same policies that they used to respond to the crisis — only the mistakes they made after 2008 were far bigger than the mistakes they made before 2008. And therefore, the bubble that they blew up was far bigger and the collapse now that that bubble has popped is going to be catastrophic.”…..more here
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