Peter Schiff Warns America Is on the Verge of Economic Collapse in 2016
Peter Schiff is back with more of his bloodcurdling revelations. This time, he made an appearance on Ron Paul’s Internet broadcast, the Ron Paul Liberty Report, where he was interviewed about his views on gold, the U.S. economy, and the Federal Reserve.
Schiff’s stance did anything but shift from where it has long stood: a dollar collapse is coming and gold prices, as a consequence, will skyrocket. This time, however, he went a step further to lay out his investment advice to viewers as to how they can survive the crisis:
Schiff reiterated his take on gold that investors need to show more faith in gold over the U.S. currency as a safety reserve:
Historically, we’ve witnessed gold and the dollar moving inversely in value. During the post-Lehman Brothers crisis of 2008, the dollar lost value while gold rallied. A similar trend is building up this year.
Chart courtesy of www.StockCharts.com
Schiff believes that the Fed has artificially inflated stock prices, which is why we’re seeing intermittent market rallies that will soon settle. In the long run, the dollar’s weakening strength will send markets crashing. How accurate is Schiff’s prediction? You can either stand on the sidelines to watch the event unfold or take his advice and prepare for it.