Federal Reserve is doctoring statistics; financial expert predicts US economic bubble to collapse soon

Thursday, January 8, 2015
By Paul Martin

by: Daniel Barker
NaturalNews.com
Thursday, January 08, 2015

Best-selling author and financial expert Peter Schiff is someone worth listening to when he makes a forecast regarding the economy.

Schiff, who is also CEO and chief global strategist at Euro Pacific Capital Inc., was one of the few who accurately predicted the crash of 2008. But, as he is fond of pointing out, that crisis was merely an initial tremor compared to the financial earthquake that he predicts will be coming in the near future — perhaps as early as 2015.

In recent interviews, Schiff has been warning that estimates of economic growth are overblown, and that the U.S. economy is in far worse shape than the GDP growth figures suggest.

In fact, he predicts that, unless we take our lumps now in a controlled manner (in other words, admitting that the U.S. is essentially bankrupt and allowing a correction to take place without more artificial propping up of the economy by the Federal Reserve), we will face a far more serious crash in the very near future resulting in the complete collapse of the dollar — a financial Armageddon that Schiff refers to as the “Day of Reckoning.”

Despite the rosy estimates of 5 percent GDP growth in the last quarter of 2014 (does anyone really believe that, anyway?), Schiff believes that, without another round of quantitative easing and the Fed keeping interest rates near zero, the U.S. economy would probably slip into recession in 2015.

And even though that would result in a “bloodbath,” with people defaulting on debts which they can’t even pay the interest on, and with banks failing, Schiff says that’s exactly what needs to happen.

The Rest…HERE

Leave a Reply

Join the revolution in 2018. Revolution Radio is 100% volunteer ran. Any contributions are greatly appreciated. God bless!

Follow us on Twitter