Peter Schiff Warns US Faces a ‘Massive Financial Crisis,' Economist Expects Much Larger Problems Than 2008 ‘When the Defaults Start’

in Steem Links2 months ago (edited)


The economist and gold bug Peter Schiff usually has a lot to say, and this past week Schiff explained during an interview that he believes the U.S. will face a financial crisis worse than 2008’s ‘Great Recession.’ Schiff explains that the U.S. has a lot more debt than it did back then, and insists America’s economic downturn “is going to be a much bigger crisis when the defaults start.”

Chief Market Strategist at Euro Pacific Asset Management Says the Decline in US Inflation ‘Is Only Temporary’

While Peter Schiff detailed that he would liquidate his Euro Pacific Bank, the economist sat down to discuss the American economy with the anchor and producer at Kitco News, David Lin.

The day before he spoke with Lin, Schiff explained that even though inflation is seemingly cooling, he believes the trend will not last. “Paradoxically investors are selling dollars and buying gold on a lower than expected rise in July CPI, as they think the Fed will adopt a less aggressive policy,” Schiff said on Twitter. “They’re right to sell dollars and buy gold, but for the wrong reasons. The decline in inflation is only temporary.”

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