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Peter Schiff: “Default or Not, U.S. Dollar Is Going to Collapse Either Way” (Video)

Tuesday, November 22, 2016 8:52
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(Before It's News)

Most people who use social media have figured out that Facebook and Google are in cahoots with the government, for those who are well aware of the issues it’s high time you switched over to Seen.life. It is a website that is similar to Facebook but without all the censorship.

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This post picks right up where a previous post earlier left off titled, Dr. Jim Willie: We Are Facing the Worst Bond Crisis in 15 years, and the world is quickly losing confidence in the U.S. In the interview below, this time it’s Peter Schiff who talks about just how dire states of the U.S. economy is right now, as President-Elect Trump is about to take office.  

Here are the facts, and they are very painful facts for anyone who hasn’t come to terms with them yet: It all starts with the fact that the U.S. is bankrupt, regardless of the nonsense politicians say. Being bankrupt is bad, but being bankrupt with rising interest rates is going to be brutal. Many of our creditors have already started dumping U.S. Treasuries already, figuring they should probably get what they can while they’re still worth something, which was explained in the post referenced above.  

No thanks to the Fed, which printed over $6 TRILLION Dollars out of thin air during Obama’s presidency, our currency has now lost 98% of its value since coming off the Gold Standard in 1971, which was the last time the U.S. defaulted on its debts. Once again we’ve lived beyond our means, but this time there are no more life lines. 

When asked if the Dollar will collapse if the U.S. defaults on its financial obligations, Peter responds by saying, “The U.S. Dollar is going to collapse anyway,” but we might as well default now, because even though our creditors will get less than 100 cents on the Dollar of what we owe, they’ll get a lot more than if we keep printing more money and a Zimbabwe hyperinflationary atmosphere takes over.

It’s time our politicians stop treating any talk about the U.S. “credit rating” as a political football, and do what’s right by the people and default. It’s mathematically impossible to ever square what we owe, and with interest rates rising, soon we won’t even be able to make the interest payments on what we owe. It’s not that all is lost forever, but anyone under the misguided notion that a Trump Presidency is going to be all sunshine and rainbows better wake up while there is still time.

Peter does an excellent job of explaining that there is going to be a great deal of pain and suffering before anything gets better. To help put that in perspective, when you consider he Top 11 Things Obama is Leaving Trump listed below, it should make it crystal clear just how rough things are going to be. The time to prepare is now. The United States imports 50% of our food. What do you think happens when we can no longer afford our interest payments, much less anything else? 

Furthermore, we’re assuming the far-left crazies eventually settle down, and get back in their cribs. Let’s not forget Black Lives Matter is planning the largest political march on Washington D.C. in U.S. history on Inauguration Day. Recall that Black Lives Matter is funded by George Soros, and recently a new view of Soros surfaced about a weeks ago. 

DO NOT MISS THE GEORGE SOROS VIDEO BELOW:

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For those of you who are finally starting to realize there is major trouble on the horizon, largely as a result of the corruption within our own government and the 2016 election, the failure of the U.S. Dollar and Western banks, deteriorating conditions here domestically, or perhaps even because of nuclear tensions reaching all new heights, then I suggest you get your FREE GUIDE for how to survive Martial Law here, because if/when things begin to go south, by then it will be too late to do anything about it. The writing is on the wall everywhere… 

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Michael Snyder writes:

It would be a grave mistake to understate the amount of damage that has been done to the U.S. economy over the past eight years.  In this article, I am going to share some economic numbers with you that are extremely sobering.  Anyone that takes a cold, hard, honest look at the numbers should be able to see that our economy is in terrible shape.  Unfortunately, the way that we see things is often clouded by our political views.  Up until the election, Democrats were far more likely then Republicans to believe that the economy was improving, but now that is in the process of completely reversing.  According to Gallup, only 16 percent of Republicans believed that the economy was getting better before the election, but that number has suddenly jumped to 49 percent after Trump’s election victory.  And the percentage of Democrats that believe that the economy is getting better fell from 61 percent to 46 percent after the election.  Here are some additional details from Gallup

After Trump won last week’s election, Republicans and Republican-leaning independents now have a much more optimistic view of the U.S. economy’s outlook than they did before the election. Just 16% of Republicans said the economy was getting better in the week before the election, while 81% said it was getting worse. Since the election, 49% say it is getting better and 44% worse.

Conversely, Democrats and Democratic-leaning independents’ confidence in the economy plummeted after the election. Before the election, 61% of Democrats said the economy was getting better and 35% worse. Now, Democrats are evenly divided, with 46% saying it is getting better and 47% saying it is getting worse.

The truth, of course, is that the result of the election did not somehow magically alter the outlook for the U.S. economy.

 

We still have a giant mess on our hands, and the following are 11 very depressing economic realities that Donald Trump will inherit from Barack Obama…

#1 Nearly 7 out of every 10 Americans have less than $1,000 in savings.  That means that about two-thirds of the country is essentially living paycheck to paycheck at this moment.

#2 Reuters is reporting that U.S. mall investors are poised to lose “billions” of dollars as the “retail apocalypse” in this nation deepens.

#3 Credit card delinquencies have hit the highest level that we have seen since 2012.

#4 Approximately 35 percent of all Americans have a debt that is at least 180 days past due.

#5 The rate of homeownership has fallen for eight years in a row and is now hovering near a 50 year low.

#6 The total number of government employees now outnumbers the total number of manufacturing employees in this country by almost 10 million.

#7 The number of homeless people in New York City (where Donald Trump is from) has hit a brand new record high.

#8 About 20 percent of all young adults are currently living with their parents.

#9 Total household debt in the United States has now reached a grand total of 12.3 trillion dollars.

#10 The total amount of corporate debt in the U.S. has nearly doubled since the end of 2007.

#11 When Barack Obama entered the White House, the U.S. government was 10.6 trillion dollars in debt.  Today, the U.S. national debt is currently sitting at a staggering total of $19,842,173,949,869.58.

In the following video, you can get a real good idea who George Soros is. Pay careful attention to what he’s doing with his money these days. He’s giving away his billions, which is why he can afford to fund far-left groups with virtually bottomless pockets.

While watching the video, note the name of his company, the Quantum Fund, which Soros co-founded with Jim Rogers, who retired at age 37. Like Peter Schiff, Soros’ former partner Jim Rogers has been out warning the entire world about the looming financial collapse. Peter Schiff, Jim Rogers, and other legendary investors like Jim Richards, Bill Holter, or Dr. Jim Willie have also been warning… The point is, these guys are the best there is… 

ALSO CONSIDER THE FOLLOWING:

Soros Executes Major Brexit Gold Buy, European Union Teeters on Collapse

Why Did Billionaire George Soros Sell 37% of His Stock to Buy Gold?

George Soros Bet $1.3 Billion The U.S. Stock Market Will Fall

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When asked if the current situation is really as bad as it appears, and if conditions are going to get worse, former George Soros partner and Quantum Fund co-founder, Jim Rogers, responds very candidly when he says: 

“Of course it’s going to get worse. You SHOULD be worried … Get KNOWLEDGEABLE, get WORRIED, and get PREPARED! It’s going to be MUCH worse, and worldwide!”

Referring to what people should expect from the next crash, which is really going to be the collapse of the Dollar, he goes on to say: 

“If this is happening now, with the stock market soaring and unemployment a bit lower than it was during the depths of the last recession, what is going to happen when things start getting really bad in this country?

Desperate people do desperate things, and if people are willing to hurl rocks and set horses on fire because they are upset at a political candidate, what are they going to do when there is no food for their families?”

At the end of the post will be links to several posts by each of the men mentioned…

Despite nearly doubling the national debt during his eight years in the White House, Barack Obama is going to be the only president in United States history to never have a single year when U.S. GDP grew by at least three percent.

So will Donald Trump waltz in and suddenly turn everything around?

Just like when George W. Bush was elected, there is a lot of optimism about the future right now among Republicans.

And in 2017, Republicans are going to have control of the Senate and the House in addition to being in control of the White House.

But does that mean that they will actually get anything done?

For a moment, let’s review what didn’t happen the last time the Republicans were in this position.  The following is an extended excerpt from an article by author Devvy Kidd

BE SURE TO CHECK THELASTGREATSTAND.COM FOR SURVIVAL GEAR!

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FREE DETAILED GUIDE TO SURVIVING ECONOMIC COLLAPSE OR MARTIAL LAW HERE

The Republicans had control of both houses of Congress part of the time during Bush, Jr.’s two terms. Did they lock down our borders? NO.

Did they pass legislation to stop ALL funding for illegals which would self-deport millions of liars, cheats and thieves? NO. (READ, please: How to Self-Deport Millions of Illegals)

Did they stop trillions in unconstitutional spending? NO.

Did they get rid of any of Clinton’s unconstitutional Executive Orders? One or two but otherwise let Comrade Bill Clinton crap in our faces.

Did they get rid of one unconstitutional cabinet like HHS, Department of Education and EPA? NO.

Did they stop the unconstitutional foreign aid? NO.

Did they stop unconstitutional spending for Planned Parenthood? NO. Congress just continues to use borrowed money to spend more debt.

Did they stop unconstitutional spending for the gigantic hoax called global warming or climate change? NO. Trump: The Left Just Lost The War On Climate Change

Did Bush, Jr., get us out of all the destructive trade treaties killing American jobs? NO.

Did they crack down on visas bringing in tens of thousands of foreign workers when American workers who want to work are left in the unemployment line? NO.

Did they stop more and more federal regulations strangling America’s businesses? NO.

Did they impeach one single activist judge destroying our freedom and liberty? NO.

A Republican controlled Congress with a Republican in the White House and they did virtually NOTHING to restore America to a constitutional republic and constitutional spending.

So will things be any different under a Trump administration?

We shall see.

There will be tremendous pressure to maintain the status quo in many instances, because the process of fixing things would undoubtedly make conditions worse in the short-term.

A great example of this is the national debt.  As I discussed yesterday, the only reason why we are able to enjoy such a massively inflated standard of living in this country is because we have been able to borrow trillions upon trillions of dollars from the rest of the world at ultra-low interest rates.

If the federal government started spending only the money that it brought in through taxes, our ridiculous debt-fueled standard of living would begin collapsing immediately.

We consume far more wealth than we produce, and the only way that we are able to do this is by borrowing insane amounts of money.

Either Donald Trump will continue to borrow money recklessly, or we will go into a major league economic downturn.

It really is that simple.

But when our politicians borrow money, they are literally destroying the future of this country.  So the choice is pain in the short-term or greater pain in the long-term.

There is a way out, and that would involve shutting down the Federal Reserve and going to a completely debt-free form of money, but that is a topic for another article.

And unfortunately that is not something that is even on Donald Trump’s radar at this point.

No matter who won the election, the next president was going to be faced with some very harsh economic realities.

There are many out there that have faith that Donald Trump can pull off an unprecedented economic miracle, but there are others that are deeply skeptical.

Let us hope for the best, but let us also keep preparing for the worst.

Most people who use social media have figured out that Facebook and Google are in cahoots with the government, for those who are well aware of the issues it’s high time you switched over to Seen.life. It is a website that is similar to Facebook but without all the censorship.

BE SURE TO CHECK THELASTGREATSTAND.COM FOR SURVIVAL GEAR!

Survival-2-2

FREE DETAILED GUIDE TO SURVIVING ECONOMIC COLLAPSE OR MARTIAL LAW HERE

IF YOU READ NOTHING ELSE, THE FOLLOWING POSTS ARE ESSENTIAL:

Bill Holter: Between Now and Election Will Be Extremely Dangerous (Video)

Dr. Jim Willie: We Are on the Brink of World War; Americans Totally Clueless - Pt. 1

Dr. Jim Willie: We Are on the Brink of World War; Americans Totally Clueless - Pt. 2

Dr. Jim Willie Reveals 2nd Death Threat From U.S. Government (Video)

Bill Holter: Newly Solidified Chinese Superpower Will Replace Dead U.S. Dollar (Interview)

Peter Schiff: Don’t Believe the Hype! The Real Economic Fallout From Brexit (Video)

How Will the U.S. Conduct Trade With Worthless U.S. Dollars and No Gold? (Video)

Why Did Illuminated George Soros Liquidate 37% of His Stock to Buy Gold? (Video)

What Exactly Does Global Economic Collapse Coming May 2016 Mean? 

POSTS FROM SOME OF THE OTHER EXPERTS MENTIONED:

Jim Rogers: It’s Time to Prepare; Economic and Financial Collapse Imminent (Video)

Jim Rogers Expounds on Severity of the Global Economic Destruction if Deutsche Bank Falls

Jim Rogers: Deutsche Bank Collapse Will Crash Entire World Financial System (Video)

Bill Holter: Global Economic Collapse Looming and Criminal Banking Cartels (Video)

Bill Holter: Between Now and Election Will Be Extremely Dangerous (Video)

Bill Holter: Newly Solidified Chinese Superpower Will Replace Dead U.S. Dollar (Interview)

Dr. Jim Willie: The Dollar Collapse Has Begun; U.S. Bank Failures to Follow (Video)

Dr. Jim Willie: U.S. Will Lose Global Reserve Status, Expect 80-90% Devaluation of the U.S. Dollar 

Dr. Jim Willie: Unprecedented Bond Dumping Means U.S. Dollar Collapse Ahead (Video)

FOR MORE GREAT MATERIAL FROM PETER SCHIFF:

Peter Schiff: Making America Great Again Will Be Much Harder Than Voters Think (Video)

Peter Schiff: America Is so Broke We Cannot Even Afford Peace (Video)

Peter Schiff: Expect An Economic Crisis Infinitely Worse Than 2008 (Videos)

Dr. Jim Willie and Peter Schiff: The Morgue Is Next Stop for U.S. Economy

Peter Schiff: Don’t Believe the Hype! The Real Economic Fallout From Brexit (Video)

Peter Schiff and Jim Rogers on the U.S. Economy: Be Afraid… Be Very Afraid (Videos)

Peter Schiff: Are People Going to Wake Up? The Economy Is Out of Road! (Video)

Peter Schiff: “Trump’s Very Massive Recession May Have Already Begun”

Peter Schiff: Americans Fear Future With ‘Dead-End Economy, Crap Jobs, and Awful Wages’

Peter Schiff: “Can Donald Trump Really Make America Great Again?”

Peter Schiff: Dollar Collapse Will Be the Single Biggest Event In Human History

Peter Schiff: Obama “Peddling Fiction” As Unemployed Tops 100 Million People

Peter Schiff: Here Comes the Great, Great, Great, Great Recession!

Peter Schiff: “Whatever Obama Was Calling Recovery… is OVER!”

Peter Schiff: Death of the US Dollar Is Imminent; Fed Out of Options

FOR MORE LINKS ON MARTIAL LAW:

Reports of Active U.S. Military Drilling for “Authoritarian Rule of Law” (Martial Law)

U.N. Soldier Says They Will Soon Occupy America: “Going Door-to-Door Taking Guns…” 

1,500 Pages of New Documents That Reveal U.S. Government’s Martial Law Agenda (Video) 

Mainstream Media Blasts Alternative News Personality on FEMA Camps (Videos)

Ron Paul: Undeniable Proof Martial Law Is Coming Because of the Economy (Video)

Virginia Police and Homeland Security Doing Exercises for Marital Law Conditions (Video)

Latest News on Government’s Preparing For Civil War or Martial Law (Videos)

Martial Law Convoys Sent to Baton Rouge, Dallas, and St. Paul Before Shootings (Videos)

Pentagon Approves U.N. Use Of Force Against American Civilians (Video)

What Is the U.S. Government Endlessly Preparing For (Videos)

Patriot Films Shocking New Video of a FEMA Camp Recently Discovered in Texas

Major Update to Military Movement and Actual Documentation of Their Plans (Video)

United Nations Troops on U.S. Soil Prepared to Assist With Martial Law? (Videos)

Obama Has Prepared FEMA for All Four Storms… Are You Prepared?

13 States Obama Is Using for His Nefarious Secret Agenda (Video)

Obama: Be Ready For EMP Attacks, Engineered Pandemics, Earthquakes, and Martial Law

How Likely is Martial Law in the US, and What Happens Under Martial Law 

Law Enforcement Preparing For Rioting on National Scale (Videos)

All Armed Americans To Be Detained In FEMA Camps Starting In 2017? (Video)

Beware of Martial Law: Obama Will Confiscate Firearms Of All 50 States in 2016

Army Not Prepping for Battle; Training For Riot Control and Martial Law

Pentagon Says Preparing For Huge Civil Unrest in U.S. (Videos)

Political Dissidents Homes Being Marked By FEMA Prior to Martial Law?

Government “Threat List:” 8 Million People To Be Detained Immediately

 

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  • i was watching the last video and it seam that talking fast equal urgency i know they have many pharma commercials to run but give us a break,heres how we solve this,just say no,no to china and anyone else that holds debt,no,you own our ports nope not any more,you own our tv networks nope its ours,your trying to buy up the Hollywood studios ,go ahead and after regulate that no foreign entity can own American infrastructure take there money then push them off like a dog scrathcing flees

  • mitch51

    I have been hearing about this happening since 1958. Is there some kind of time limit regarding this happening?

  • Smart guy, but I have stopped listening due to the lack of anything he says coming true, in any reasonable time frame. How many years can someone tell us that Gold is going to the moon, and the economy is collapsing, before one realizes it’s just nonsense and no one knows when and how much these things will move?

    Sure, change will happen and likely in our lifetime, but if one did the exact Opposite of what he says, you would have made much more money and been better off.

  • Hearing about the dollar collapse is like hearing about the 2nd coming of Christ.

  • AlmostThere

    The main problem is debt amount, even like that the US managed to buy a new submarine for just 3Billion dollars, from where is coming all that money? Are they printing it blindly? Is someone wrong about the collapse or just spending the last few billions left like there is no tomorrow?
    Questions, so many questions, and no answers.

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