UK 17:37 Friday, 23 October 2026
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Peter Schiff is a libertarian hero of mine. He called the 2008 crash brilliantly - its causes and what would happen. Now he calls the great crash of 2016. This interview with Schiff is frightening and compelling and what he says about the US also applies to Britain. Schiff thinks we are sleepwalking to insolvency. Show me how he is wrong!
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Comments
Jimbo
… and whilst I have a lot of sympathy with Peter Schiff’s views, he’s been calling for global catastrophe since 2008 and been wrong every year. However, I would say the Force is with him for 2016. I don’t know if this is going to be “the Big One” – I doubt it due to anticipating the re-emergence of Fed support – but I think a credit crunch caused by the collapse of US Junk Bonds is going to be on the cards. Either way, I suspect we’ll see QE4/NIRP announced and further interest rate rises abandoned by the end of 2016 (assuming the Fed does actually hike on the 16th, which is by no means a given). I think next year will be the year Gold ends its bear market. That’s my prediction for 2016 anyway…
The next full-blown crisis will not come until Central Banks have lost all credibility in the eyes of the Market. I am amazed this hasn’t already happened, but I suppose there are plenty of Malcolm Stacey’s in the World who keep on believing… ;)
turbograndad
The market has a vested interest in keeping the manipulated buoyancy going, that’s how it makes its money, and all the gamer’s in it. The central banks and politicians also, but from a credibility and relevance issue, that they are some how doing some thing, albeit questionable, anyway its the only show in town.
rob
I can’t ‘show you how he is wrong’ (yet) on this particular ‘guess’, but I can point to other failed ‘guesses’ he has made since, unfortunately you only chose the one that sided with your story and therefore lack balance. This is from Wikipedia:
“However, since 2009, Schiff has predicted skyrocketing gold prices, sharp increases in real consumer prices, hyperinflation, poor returns for the US stock market, a collapsing bond bubble, and ultimately a collapse in the value of the US dollar”
So show me how he is right on those ‘guesses’
wildrides
Thing is ……… he is American ………….. they can only see things from one perspective ……… and it aint ours . We have a country full of fine upstanding “Malcolms” who all passed their exams, thanks in the main to having a Mum “on the team” and a supply of Sinex .
God bless Mums and Sinex