The US economy is a house of cards, at least if you take Peter Schiff’s word for it. A student of the economy, Austrian Economics and the CEO of Euro Pacific Bank, Peter is a renowned money manager and investor with a long and successful track record of predicting busts in the stock market and economy. Schiff’s bank manages more than $3 billion in client assets; and he’s long been a supporter of the gold standard and allocating at least 5% of one’s portfolio to the precious metal.
In this interview with Alexander Smith, a colleague of mine from my other site Pinnacle Digest, Peter sits down at his home in Connecticut to talk about the 2016 presidential election, Rand Paul, gold-backed debit cards (yes, they exist) and the ‘imminent collapse’ of the US dollar. During this interview, Peter boldly states in respect to the US dollar and economy, “This bubble is already so big that even the smallest pin would prick it… the air is already coming out of the bubble… This is not a real recovery, this is a gigantic bubble…”
He continued, “The bottom is going to drop out of the dollar.”
