Peter Schiff: U.S. Headed For ‘Major Economic Crisis’ Centered On Dollar

Euro Pacific Capital CEO/Chief Global Strategist Peter Schiff appeared on CNBC World Monday. Schiff, who correctly-called the housing bubble/crash and financial crisis late last decade, warned viewers:

What people have to understand, is because of the Fed and their prior policy mistakes of keeping interest rates at zero, of all this quantitative easing, they have screwed up this economy so badly, that if the Fed were to raise interest rates at any point, they would precipitate a worse financial crisis than the one they caused in 2008. And so we’re not going to get a rate hike, no matter what they say. We’re going to get QE 4, and the next crisis is going to be a dollar crisis…

I think without another dose of QE the bubble is going to pop and we’ll be back in recession. And so to prevent that from happening, and to postpone the day of reckoning, we will get QE 4…

And if you look at the enormity of the debt on the federal balance sheet, on corporate balance sheets, look at real estate prices, the banking sector. You know, all those banks that we’re too big to fail in 2008 are much bigger now than they ever were and they’re very susceptible to even a slight increase in interest rates, which is why the Fed won’t raise them. But you’re right- it’s not going to go on for another six years. We’re going to have a major economic crisis center around the U.S. dollar long before that six-year time period can expire.


“FOMC Rate Hike Hints are a Bluff”
YouTube Video

Christopher E. Hill
Survival And Prosperity (www.survivalandprosperity.com)

(Editor’s notes: Info added to “Crash Prophets” page; I am not responsible for any personal liability, loss, or risk incurred as a consequence of the use and application, either directly or indirectly, of any information presented herein.)

Share

Tags: , , , , , , ,

No comments yet.

Leave a comment

Survival And Prosperity
Est. 2010, Chicagoland, USA
Christopher E. Hill, Editor

Successor to Boom2Bust.com
"The Most Hated Blog On Wall Street"
(Memorial Day Weekend 2007-2010)

Happy New Year

PLEASE RATE this blog HERE,
and PLEASE VOTE for the blog below:



Thank you very, very much!
Advertising Disclosure here.
ANY CHARACTER HERE
Emergency Foods Local vendor (Forest Park, IL). Review coming soon.
ANY CHARACTER HERE
Legacy Food Storage Review coming soon
ANY CHARACTER HERE
MyPatriotSupply.com reviewed HERE
ANY CHARACTER HERE
Buy Gold And Silver Coins BGASC reviewed HERE
ANY CHARACTER HERE
BulletSafe reviewed HERE
ANY CHARACTER HERE
BullionVault BullionVault.com reviewed HERE
ANY CHARACTER HERE
This project dedicated to St. Jude
Patron Saint of Desperate Situations

Categories

 

Archives