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Gold price will explode & dollar get wiped out warns investor Peter Schiff

Submitted by: Odio @ 07:59 AM | Thursday, December 7, 2017 | (url: https://www.rt.co...)

Peter Schiff was among the few economists who correctly predicted the financial crisis in 2008. Ten years later, he sees another crisis emerging: a crisis that can crash the stock market and wipe out the US dollar.

I predicted a lot more than just the stock market going down back then. I predicted the financial crisis, but more importantly, I predicted what the government would do as a result of the financial crisis and what the consequences of that would be because thats where were headed. The real crash I wrote about in my most recent book is still coming, Schiff said in an article posted by Greg Hunter's USAWatchdog.com and quoted by ZeroHedge.

According to Schiff, the US Fed has inflated a gigantic bubble, which is impossible to pop, but when it bursts, the consequences would be very painful for the economy and much bigger than the 2008 meltdown.

I think this bubble is too big to pop. I think its the mother of all bubbles, and when it bursts, there is not a bigger one that the Fed is going to be able to inflate to mask these problems, meaning we cant kick the can down the road anymore. This time, the crisis is going to hit everyone in the wallet, he said.

He compared the $20 trillion US debt to a camel loaded with straws.

How many straws can you put on a camels back? You dont know until you put that final straw thats one too many and you break his back. So, can we go to $25 trillion in debt? Maybe. At some point, we are going to break the back of the camel with all this debt. Then we are going to find out how much debt we can pile on, and its not going to be pretty, Schiff said.

Everybody is going to lose. Everybody is going to get wiped out who has been partying in the stock market, the bond market and the real estate market. The dollar is going to tank, and purchasing power is going to get wiped out.

Schiff says the current financial system would also fail to artificially curb the prices of precious metals.

Category: Entertainment | 19 Comments
Tags: gold jews

12-07-17 - 08:17 AM
Warns man who is heavily invested in gold

Breaking news
12-07-17 - 08:18 AM
"suppressing" gold's value?
12-07-17 - 08:24 AM
Let me guess, this guy owns a company that just happens to sell gold to people.
12-07-17 - 08:26 AM
I wonder how much interest he has in gold commodities? I think I will head on down to Gunther's Guns to get something to protect my family.
12-07-17 - 08:30 AM
Everyone knows guns are the real commodity.

You can arm a militia and take what you want with guns, what's a soft yellow metal vrs the real power of a firearm?
12-07-17 - 08:38 AM
I have a bag of silver waiting for dollar prices to fall.
12-07-17 - 08:51 AM
Originally posted by Denver  
I have a bag of silver waiting for dollar prices to fall.

Well, isn't that interesting.
12-07-17 - 08:53 AM
LOL this loser again
12-07-17 - 08:55 AM
Stock up on water filters too. Need clean drinking water.
12-07-17 - 08:55 AM
Schiff is no dummy. He got some media attention back during the financial crisis and he's been using it since 2 help himself and his Investments
12-07-17 - 09:02 AM
will this happen before or after AMD hits 20 dollars on Dec 31 2017?
12-07-17 - 09:06 AM
Bears predict the market will go down and gold will jump every week.

Then when it happens, they say they predicted it. Easy game.
12-07-17 - 09:32 AM
Twink Versitiles predict it both ways.
12-07-17 - 10:45 AM
i looked into unloading the silver coins i have

my great g-ma was a bank teller back in the day and kept rare coins she found

found a bag full of wheat pennies and thought nothing of it until i looked closer and found several 55 double die and a 1943 non-magnetic error coins

unfortunately they were circulated and not mint but they are still being appraised

if u have silver coins u should probably go look thru each individual one and look for rare mints or die errors

walking liberties and jfks in particular
12-07-17 - 10:53 AM
Originally posted by Skipperlipicus  
will this happen before or after AMD hits 20 dollars on Dec 31 2017?

Just before Trump is impeached.
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