Peter Schiff Says the Fed Can’t Put Off a Stock Market Crash Forever

Economic_collapsePeter Schiff Says the Fed Will Never Raise Interest Rates

Peter Schiff had some harsh words for investors this Tuesday, warning of a possible U.S. stock market crash.

Schiff, a well-known analyst and media personality, is no stranger to criticizing the U.S. Federal Reserve, appearing on CNBC’s Futures Now segment on Tuesday. (Source: CNBC, last accessed September 25, 2015.) Speaking about the decision by Fed chairman Janet Yellen to leave interest rates as they are, Schiff claimed that we are unlikely to see any rate hike.

In fact, stresses Schiff, we may very well be on the road to economic collapse.

The CEO of Euro Pacific Capital went on to liken the Fed’s current pattern of delaying interest rate hikes to a “con,” saying that it’s only a matter of time before the rest of the global economy catches on.

Placing trust in the Fed is a dangerous move, according to Schiff, who sees more quantitative easing policies on the horizon instead. In his view, the Fed has put itself into an awkward position because it can’t raise the rate.

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Ongoing market volatility and the dangers of a Chinese stock market crash are just part of a larger problem, says Schiff. The U.S. economy is slowing down quickly, and the Fed has fooled everyone into believing that it’s a lot healthier than it really is.

But what, then, can we expect?

Janet Yellen will continue to pretend that we can raise rates whenever we wish, but just choose not to. Schiff goes on to explain that these delaying tactics are leading down a very dangerous road.

The longtime opponent to the Federal Reserve claims that foreign exchange markets will eventually figure out what U.S. policymakers are doing, and then we will be facing a currency crisis which could lead to a U.S. and global stock market crash.

The first signs of this impending doom are already showing themselves, says Schiff. The U.S. dollar has begun to cool down. And once the greenback bubble bursts, it will take bonds markets with it.

Peter Schiff is a long-time vendor of economic collapse predictions, and maintains that he has proven his critics wrong more often than not.

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