The Crisis Is Imminent: “When The Real Crash Comes It Will Be Worse Than the Great Depression”
April 30th, 2013
“The United States is like the Titanic, and I’m here with the lifeboat trying to get people to leave the ship… I see a real financial crisis coming for the United States.”
n 2006, when he faced off with many well known Titans of investing and warned of an impending financial disaster and economic collapse, Peter Schiff was laughed at by his colleagues. He urged Americans to exit financial markets and take steps to protect themselves before the wealth held in their savings accounts, retirement investments and real estate was wiped out.
We know what happened next.
Now, those same financial experts who publicly vilified Schiff for his predictions six years ago are at it again. Many, including our politicians, central bankers and leading economists, have unequivocally stated that the worst is behind us, and that a global recovery is on the horizon.
Once again, Peter Schiff disagrees:
“I think we are heading for a worse economic crisis than we had in 2007,” Schiff said. “You’re going to have a collapse in the dollar…a huge spike in interest rates… and our whole economy, which is built on the foundation of cheap money, is going to topple when you pull the rug out from under it.”