Peter Schiff Warns: "Nothing Has Changed Under Trump... We're Headed For A Major Crisis"

Tyler Durden's picture

Authored by Mac Slavo via SHTFplan.com,

When Donald Trump was elected, there was so much optimism among libertarians and conservatives, it was almost palpable. However, it’s only been several months into his first term, and it’s becoming quite apparent that Trump is no savior. In retrospect, it was foolish to think any single person could snap his fingers, and reverse decades of financial mismanagement and political corruption. It was foolish to think that he could dismantle an entrenched bureaucracy that is more powerful than most people realize.

But not everyone was convinced that Trump was going to be able to turn this ship around. Peter Schiff knew that the damage done by the political establishment was irreversible, and that our financial system was living on borrowed time. In a recent interview with Future Money Trends, Schiff explains why Donald Trump can’t stop the inevitable, and how you can crash proof your assets ahead of the economic pain that is coming:

Donald Trump should already be disappointing a lot of people who thought we were going to get change, we were going to make America great again. We didn’t repeal Obamacare, that’s here to stay. Major tax reform is dead. We’re dropping bombs.

 

I mean it’s the same old same old right? Big government… bigger deficits… more cheap money… keep the air in the bubble. We’re headed for a major major crisis.

Watch the full interview with Peter Schiff:


(Watch At Youtube)

As for what that major crisis will be, it’s not what most people would expect. As Schiff points out, it’s not going to be triggered by one sector of the economy, as we saw in during the last financial crash. The crisis is going to emerge with the dollar itself, which Schiff says could cause precious metal prices to soar. Everyone is taking for granted the fact that the dollar is king, but it’s not going to be for long. Not when our government continues to rack up debt like a compulsive gambler; which at this point, doesn’t appear to be changing under Trump.

The dollar is living on borrowed time, literally. And so we just don’t know. It’s like a bomb with a fuse, but we just don’t really know how long the fuse is. The dollar, I think is in a major bubble. I think it is in the process of topping out. I think once it completes this top it’s going down. And I think it’s going to take out the lows from 2008…

 

…I think it’s going to go down for the count. Because the last time, what saved the dollar was the financial crisis, and that crisis resulted in everybody buying the dollar. But I think the next crisis is not going to be the same crisis that we had in 08. I think the dollar is going to be the crisis. I don’t think it’s going to be a bread and butter financial crisis.

 

This is going to be a currency crisis. So it’s going to be the US government. It’s not going to be the mortgage markets that’s blowing up. It’s going to be the treasury bond market that’s blowing up. It’s going to be the Federal Reserve that’s blowing up. And this is going to be a major major negative for the dollar, not a positive.

We really don’t know how long that fuse is, but there’s no doubt that it’s been lit. There is a frustrating truism in economics. You can easily predict if something bad is going to happen, but you can never predict when it’s going to happen.

That’s because the economy is built on numbers that are easy to calculate, but it’s impossible to predict how people will react to those numbers. In our case, people don’t want to believe that this economy is built on a house of cards and that their standard of living is in jeopardy. That willful ignorance, that confidence, can keep the show going long after the curtain should have been drawn. However, no amount of confidence can keep an unsustainable system running forever. Eventually, reality becomes impossible to ignore.

Trump doesn’t want to preside over a major decline in our standard of living, but ultimately that has to happen. Because this is the consequence of all this excess consumption that went on before he was president. You know, we sacrificed our future to indulge our past. The future is now the present. We’re here, and it’s time to pay the piper.

There’s only one thing you can do, according to Peter Schiff. Prepare yourself and your family with real assets like gold and silver that will keep your finances afloat during the next currency crisis.

 

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lester1's picture

It's only been 84 fucking days and Peter is already running around acting like a liberal saying Trump's getting nothing done. Peter is destroying his credibility. Let's see what Peter says after 2800 days of President Trump !!

winged's picture

Peter's right. Paying the piper is karma for the greatest injustice of the 20th century.

http://biblicisminstitute.wordpress.com/2014/07/15/the-greatest-injustic...

sincerely_yours's picture

Trump, the narcissist, has the same hubris as W Bush.

He wants to be a war president.

That will be his downfall and that of the US.

Manthong's picture

“it’s only been several months into his first term”

If Trump does not stay the F away from Syria and make nice with the Russians it will be “it’s only been several months into his only term” for sure.

TheMeatTrapper's picture

That's fine, I'm sure President Hillary Clinton will be much better.

lickspitler's picture

I thought Schiff lost his voice after yelling the sky is falling for 9 straight years.

new game's picture

moar like trump but a knife in the dollar and bled the fuker out, as the military lost the petro dollar battle in the mideast.

suadia arabia is under the control by russia/iran as the new oil regime dictating world reserve curency stands backed by oil/gold ratios..

Donald Trump's picture
Donald Trump (not verified) new game Apr 14, 2017 7:38 AM

Major crisis? We can manage it.

But how about WWIII? Are YOU really prepared? Trump looks like he doesn't care. He thinks Mar-a-Lago is off the grid.

Where Will You Go When North Korean Agents Release Biological Weapons in Major U.S. Cities?

http://dailywesterner.com/news/2017-04-14/where-will-you-go-when-north-k...


FBaggins's picture

If biological weapons are released everthing we have learned over the past 20 years tells us it will be another US false flag. 

DavidC's picture

He's clever than you or me when it comes to finance and NOBODY thought that QE1, 2 etc would exist or go on for so long. QE4 for heaven's sake!? 60 BILLION Euros every month STILL by the ECB?!

DavidC

panther man's picture
panther man (not verified) DavidC Apr 14, 2017 8:13 AM

I'm making over $7k a month working part time. I kept hearing other people tell me how much money they can make online so I decided to look into it. Well, it was all true and has totally changed my life. This is what I do... http://bit.ly/2jdTzrM

ejmoosa's picture

Other than krugman and friends, who would have even thought that the Fed could inflate the money supply like they did without massive consequences for so long?

 

 

gougeonit's picture

But he's still relevent, you have to remember that the tptb, changed the rules, there has never been a time when interest rates have been so low for so long. Or the amount of debt that has been added to keep this turd floating in the bowl! When these Bubbles pops  or turd gets flushed,  Only people with hard assets are going to prosper.

Misplacedcowboy's picture

OH YES!  By all means, let's get that Criminal Bitch in office as soon as possible.

Pickleton's picture

"That's fine, I'm sure President Hillary Clinton will be much better."

 

LOl, yeah, lets put an evil bitch that doesn't care about anything but herself and we know was selling access to the State into the Presidency.  

swmnguy's picture

More to the point, let's bring up a false dichotomy every time anyone disagrees with us.  When my wife suggests the stew I made could use a little salt, I should say, "Oh, sure, you probably support Hitler, too!"

It's long past time any jackass with the brains to make sense of this site learned it's actually possible to oppose both factions of the Corporate War Party.

earleflorida's picture

'Deep State v. the`Master's?' so Pepe Escobar says...

https://www.sott.net/article/348097-Pepe-Escobar-New-narmal-of-Trumps-foreign-policy

listen up-- Pepe is never far from the mark!

J S Bach's picture

"We're here, and it's time to pay the piper."

No... you mean it's time to pay the usurers.  Granted, the sheeple were goaded into "having it all" at their grandchildren's expense, but were it not for our debt-based money system, this kind of hedonistic spending would not be possible without massive and immediate taxation upon the present population.

adanata's picture

 

Seriously, it's ALL a joke... FAKE "money" and equally FAKE "debt" making the world go round. We can repudiate the "debt"; stop paying it. No one loaned us $20T. Unless or until you hear a person of "authority" talking about the BIS and the Barons, it's all lies anyway. That goes for Ron, Rand, the Donald and every other fu**ing politician, pundit, advisor out there. It's so predictable now it's boring. 

The only hopeful sign is many more of the Sheeple seem to be getting the picture.... finally.

earleflorida's picture

you forgot the source-code-- Fake News

scaleindependent's picture

Fake money, sure,

but when it is our time to pay those fake loans, then it becomes real sweat, real blood and real tears.

Look at Greece. 

Rjh's picture

Peter is just like almost everyone on this site - a doom and gloom liberal, oh wait, I mean libertarian, I think. I actually can't tell them apart any longer with all their whining drowning out anything comprehensible. 

greenskeeper carl's picture

So you think something has changed? So far he has done nothing he promised, and attacked another country that he castigated Obama for even contemplating. So ya, we are a little pissed off about all this. You think Trump can overcome the laws of mathematics, too?

TheMeatTrapper's picture

It is sad that now you have to read through pages of comments to find one with substance. The common practice of filling a comment full of the usual buzzwords while adding nothing of substance is dragging a once great site into the mud.

#ziocon #bankster #pizzagate #drumpf #orangecheeto #ciaqueda #presidentkushner #falseflag #khazar #americaistheworstever. 

I threw those in to make sure I get upvoted. Lol.

OverTheHedge's picture

A while ago you had to wade through pages of "Gold, Bitchez"  then we went through the mad stacker phase, with all their bullets, beans and bullion, and now we are sinking under the weight of spam, bots and trolls. It is still more useful than MSM, but the utility is decreasing. Tyler is still at the cutting edge of doom porn, so I'm happy for that, if nothing else.

 

Ms No's picture

Your right.  The biggest bomb short of a nuke was dropped today on a random target, excused by lies.  We are preparing to possibly launch an invasion on a soverign nation in aggression today.  We are fucking with China's vassal North Korea and our nation is long past insolvent with rivals that matter.  No problems here.  Are you the guys that explain on MSM why gold went up nothing today while the banks the shorted it out the ass?  Just curious.

Bay of Pigs's picture

You've been here a little over a year and you're making blanket judgements?

I call bullshit.

MsCreant's picture

I am not starting shit, I really want to know. Do you still support Trump? If so why? 

I did not vote for him, but I did hold out hope that he was enough of an attention whore that he might keep his promises to those who got him in. I am disappointed and feel a little silly for ever hoping.

ejmoosa's picture

It took lesss than 80 days for the swamp dwellers to convert Trump to being one of them.

History will show that Ron Paul, in 2008, was the last chance we had to save this nation from self destruction.

Trump was just a last ditch effort, as the public voted for the outsider who quickly became an insider...faster than anyone could have imagined.

 

Rjh's picture

Hahahahahahah, Ron Paul, hahahahahahahaha. After all these years, you still haven't realized that Ron Paul was an enormous nutjob who would have destroyed America.

Bay of Pigs's picture

And speaking of the wave of new trolls at ZH.

Thanks for weighing in shit for brains.

Rabbi Chaim Cohen's picture

It wouldn't have mattered even if that pipe dream had come to pass. He would have had to play or you pay. RP would have been saddled with a RINO, globalist, shill as VP (if he'd been able to carry the GOP nomination) and then he would have had, shall we say... an "accident" as soon as he dug in his heels on any thing that actually mattered like the Fed or intelligence/surveillance. People of principle are given no quarter in the dank, quagmire of DC. Now more than ever, any POTUS that actually threatens the status quo and cannot be persuaded to "play ball" will find themselves ushered into the cemetary with full State's honors.

consider me gone's picture

I never hoped though I voted for him.  Bush taught me the futility of political/economic hope. I do have much hope in Christ though. As. crazy as it seems, the NT makes the most sense of anything I've learned on this doomed rock.

Pickleton's picture

"The common practice of filling a comment full of the usual buzzwords while adding nothing of substance"

 

Sorta like yours.

Raging Debate's picture

Trapper - Trolls that are paid or unpaid reveal narrative. 

JackT's picture

The fuse may have been lit but it's so knotted I don't know if it can actually cause ignition

SilverRoofer's picture

https://youtu.be/HwCaFyglAgQ

Pick your poison watch Peter school the CNBC flunkies

And his thoughts on yellen

gn28's picture

this "collapse" bullschiff is getting old... all that so called digital debt (all those money were sent digitally) can be repaid the same way the loan was made... digitally... so, all it takes is the equavalent of a text message / email to repay it all and wipe it out... this kind of propaganda that they're shoving up your throat is just fear mongering keeping you scared... WAKE UP!

Scuba Steve's picture

you realize its a zero sum game, right?

Nobody goes to jail right now ... When the Power Brokers look at each others debt in the derivatives who in the fuck do you think is going to say "Ok, I'll take the loss?"

Tell you who it is buddy, YOU ... right up the ass along with your family and every other family that works every day !

Ms No's picture

Two weeks.  Congrats for upvoting the idiot shill.

AtATrESICI's picture

is right 2 times in 20 years. maybe???

AtATrESICI's picture

P.S. Fuck you Trump...The owners must have the golden shower pizza pizza videos after all or you are the worst kind of shekeled.

Bobbyrib's picture

Yeah, but when Peter is right..

Back in 2007 Congress nearly shit themselves and rushed to get TARP passed. We already had Bernanke in charge of the Federal Reserve monetizing the debt and then he started up QE to get us we are today.

The reason for the pathetic labor participation rate is not just Obamacare, it's structural. Wall St has most of the money and the power. The financialization of our economy is nearing an end. The Federal Reserve is starting to raise rates and stated they will begin to shrink their balance sheet. The Federal Reserve is admitting their policies have failed the country.

The idea that the economy could overheat if they don't raise rates is laughable. What would overheating be 3% GDP growth? Gimme a fucking break. Hopefully the sheeple will see that the Federal Reserve's charter needs to be revoked, but I am not very optimistic. The sheeple constantly let us down and will continue to do so. As long as everything is "fine," the sheeple do not care.

ljag's picture

Trump does name 5-6 new folks to the Fed within a year. We'll see if the roadroroota is paved or not.

gumby1129's picture

He'll just appoint more Goldman jackasses to those positions....