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Peter Schiff | CEO & Chief global strategist of Euro Pacific Cap Inc | web3 talks | Sep 29th 2022
Join Peter Schiff, CEO of Euro Pacific Capital, as he shares his expert insights on the impending economic crisis, warning of a bubble, soaring interest rates, and a sovereign debt crisis if the US doesn't change its monetary policy.
- The dollar is losing its status as a reserve currency.
- The Federal Reserve is inflating the economy, causing a bubble and setting the stage for a crash.
- The inflation problem will get much worse and interest rates will skyrocket.
- The United States should have a free-market economy and let the money supply contract.
- The government should reduce spending dramatically to reduce the national debt.
- Gold is a better store of value than other commodities and should be used as a medium of exchange.
- Negative interest rates will not stimulate the economy, they will only delay the inevitable.
- Quantitative easing (QE) was a mistake and should not be used again.
- The United States will experience a sovereign debt and currency crisis if it does not change its monetary policy.
- The crisis will be much worse than the 2008 financial crisis.
- The government is incentivizing people to take on debt, leading to a credit bubble.
- Inflation is the expansion of the money supply and will lead to a decline in the purchasing power of currency.
- The government should allow the money supply to contract, not inflate it.
- The national debt is unsustainable and will cause a crisis.
- The United States should have a budget surplus, not a deficit.
- The Federal Reserve is financing the government’s spending, which is unsustainable.
- The government should reduce its spending and reduce its reliance on central banks.
- Gold is a better store of value than fiat currency and should be used as a medium of exchange.
- The crisis will be much worse than most people expect.
- The United States should have a free-market economy and let the market dictate the price of goods and services.
- The government should reduce its involvement in the economy and let the free market work.