Economist Peter Schiff Warns of ‘Massive Crisis’ and a Rush to Exit US Dollar
Economist Peter Schiff has warned of “a rush” to get out of the U.S. dollar. “There’s going to be a massive crisis,” he predicted, adding that “it’s going to send the economy into a tailspin and people are going to feel the economic pain.” Peter Schiff’s US Dollar Warning Economist and gold bug Peter Schiff reiterated his warning about the impending collapse of the U.S. dollar in an interview with David Rodriguez last week. Replying to a question about whether everyone is escaping the U.S. dollar, Schiff said: “They will be. Right now, it’s just kind of like a trickle.” However, he stressed: It’s gonna be a deluge before too long where it’s a rush to get out of the dollar. Schiff explained that a mass exodus of the U.S. dollar will happen “because we have these deficits — $2 trillion-plus annual budget deficits — not only as far as the eye can see, but the eye can see them getting much bigger than $2 trillion, $3 trillion, $4 trillion.” He exclaimed: “It’s completely unsustaina