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Peter Schiff Warns of Crash: ‘Everybody Is Going to Get Wiped Out!’

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This coming crisis will hit everyone in the wallet.  Money manager Peter Schiff who accurately predicted the 2008 financial crisis can already see the writing on the wall, and everyone is going to get wiped out.

Schiff says that this time, gold will explode and the dollar will be wiped out. USA Watch Dog‘s Greg Hunter interviewed Schiff about the impending financial disaster we are facing. Almost ten years after the 2008 meltdown, Schiff had this to say:

“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 that’s where we’re headed.  The real crash I wrote about in my most recent book is still coming. . . . This is the third gigantic bubble that the Fed has inflated, and when this one pops, it’s not going to be ‘the third time is a charm.’  It’s going to be ‘three strikes and you’re out.’  I think this bubble is too big to pop.  I think it’s 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 can’t kick the can down the road anymore.” –Peter Schiff

Schiff thinks it could get even worse too.  It could go beyond just a financial crisis.

“I think the problem we are going to be confronted with is going to be much worse than a financial crisis.  It is going to be a dollar crisis, and it is going to be a sovereign debt crisis where the bonds people are worried about are not some sub-prime mortgages. . . . It’s going to be the U.S. government that people are worried about and the solvency of the U.S. government and the Treasury bonds.  If it’s a dollar crisis and people are worried about the dollar, the only thing worse than owning a dollar today is owning the promise of being paid in dollars in the future.  I don’t think we have the courage to default and admit to our creditors that we don’t have the money and we can’t repay.  I think we will create all the money that we need so we can pretend to repay, but what we end up doing is wiping out the debt with inflation.”

Inversely, Schiff says it is the same with the suppressed gold and silver markets.

“They can’t keep doing it, and it will end.  It’s just like how much debt can we take on.  It’s not an unlimited amount.  We will know when we get there.  How long can they keep the price of gold suppressed?  We will know when we get there.  At some point, the price is going to explode because there is real physical buying, and all that paper selling can’t camouflage that. . . . People don’t trust fiat currencies . . . . More and more people are looking for alternatives, and the real alternative is gold.  When they embrace it, it’s going to overwhelm central banks’ ability to suppress the price.  In the meantime, enjoy the gift that they are giving.”

Schiff also said no one knows when this is going to happen for sure, only that it will happen, and you are better off to be prepared in advance. “A crisis rarely stops with a triggering event. The aftermath can spiral, having the capacity to cripple our normal ways of life. Because of this, it’s important to have a well-rounded approach to our preparedness efforts,” says the description of the book, The Prepper’s Blueprint.

It may be the time we all take a step back and consider the impact the government has had on what Schiff says will be the ultimate destruction of the dollar and prepare as best we can.

This article has been contributed by SHTF Plan. Visit for alternative news, commentary and preparedness info.


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    Total 4 comments
    • Pink Slime

      LOL! :lol: :lol: :lol:

    • Pinto Beans

      I’ve heard this for the last 30 plus years.

      • Bob DD

        Pinto Bean, Do you really think this insane debt & bankrupting spending can continue? Well, I guess it could? However, there are evil forces, which have deeply infiltrated our government, they don’t want us to exist, and many say these Worldly big bozy are endeavoring to take over the World, and the USA stands in their way? Since We the People, of the Republic of America, or whatever is left of it, didn’t bankrupt us, the politicians of the U.S. of America CORPORATION did. Since you and I are not members of that Corporation, and supposedly own the Republic, we could tell them to take a hike and we are NOT paying for debt We the People did NOT incur. If we could get the military to live up to their oaths, we might be OK after rough times?

      • watchman48

        Thirty years are nothing to God, He has warned us of the return of Jesus for nearly 2000 now… God warned the Israelites that a third of the Israelites would be slain by the sword, a third would perish by famine and a third would be carried off to captivity; approx. 100 years later this all happened… For seven years after reading the Engineer’s Report of the bombing of the WTC #2 Tower in Aug, ’94 I spoke His warning that the terrorist were coming back to “Hit” the #2 Tower again and when they do they will “Take” it all the way to the ground…
        God is just as real today as He has ever been… This financial crash is nothing compared to what is coming for USA. God has been warning USA since 1980′s of a nuclear attack.




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