Peter Schiff: ‘The Day Of Reckoning Is Getting Closer And Closer’

Economist, financial broker/dealer, and author Peter Schiff appeared on the Alex Jones Show last Friday. Schiff, who correctly-called last decade’s housing crash and recent global economic crisis, warned viewers of rising inflation, a U.S. dollar collapse, and civil unrest. The CEO of Euro Pacific Capital said:

Most people know there’s inflation. They don’t believe the government numbers or they don’t even know about the government numbers. All they know is that the cost of living is going up. Food is more expensive. Their utility bills are higher. Rent is going up. Health insurance premiums are going up. But Alex, we ain’t seen nothing yet. When it comes to inflation- this is just the beginning. The price increases that Americans have been enduring are only going to get much, much worse… But nobody is going to welcome a higher cost of living, and your best defense against that, as I said, is to protect yourself. To get out of your dollars. To diversify internationally

More and more people- mainstreaming people- I’m hearing people talk who now realize that this is the 9th inning of this thing, this whole experiment with Keynesianism and fiat money. It is very, very late in the game. Time is running out, right? The clock has been ticking and ticking. It is going to stop, and you can see that. The day of reckoning is getting closer and closer

The real drop is not just going to be in the pound, but in all the world’s fiat currencies. In particular, the U.S. dollar, which is at the center of this whole Frankenstein’s monster when it comes to a monetary system. And it is going to implode. And this dollar crisis is going to make the financial crisis of 2008 look like a Sunday school picnic, especially in the way it impacts people’s standards of living…

There is going to be, I think, rioting and looting. Especially when we have a currency collapse. Because I think then you’re going to have shortages. I think the government is going to impose price controls. And I think there is going to be a problem for people to get goods and services that are in short supply…

(Editor’s note: Bold added for emphasis)


“Bubble Ready to Implode. Massive QE Coming!”
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(Editor’s notes: Info added to “Crash Prophets” page. A qualified professional should be consulted prior to making a financial decision based on material found in this weblog. If this recommended course of action is not pursued, then it must be understood that the decision is the reader’s and the reader’s alone. The creator/Editor of this blog is 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 contained herein.)

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

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