Peter Schiff: In The Impending Collapse "Everything That Can Go Wrong, Will"

Authored by Mac Slavo via,

The impending economic collapse is hidden from most. People only see a rising stock market, not the negative underlying factors that will cause the whole system to crash.

The weakening of the U.S. dollar is just getting started, warned veteran market forecaster Peter Schiff, CEO of Euro Pacific Capital. “We have just begun a major, long-term bear market in the dollar,” he said, which should cause a spike in oil prices. He thinks oil will reach $80-$100 a barrel in 2018. The commodity currently trades at roughly $63 a barrel. Shiff focuses on oil as just one example of the inflation that will help collapse the dollar.

When the price of oil rises, it reverberates through the economy. Peter called it a gigantic tax hike for consumers. But the Fed is still worried prices aren’t going up fast enough and that they won’t hit the mystical 2% goal.

“They’re going to hit that out of the park. They’re going to be looking at 2% in the rearview mirror – in the distant rearview mirror. That is going to be the big story. They’re going to way overshoot and they’re not going to be able to do anything about it.” –Peter Schiff

Schiff also warns that the dollar’s decline is just getting starting.  He also says “everything that can go wrong, will.” We are not experiencing economic growth.  We are experiencing inflation.

High inflation is not good for the dollar. By definition, high inflation means the dollar is losing purchasing power. If the dollar is losing purchasing power, that is bad for the dollar,” Shiff explains.

“If they [the public and investors] don’t think there’s going to be inflation, they’re wrong. Those expectations are totally wrong. People are ignoring what is going on in the currency market, what’s going on in the commodities markets, what’s going on in the bond markets. All of this stuff is flashing inflation – at least the way you measure it – consumer prices.” –Peter Schiff


Shiff continues with even more dire news. “We are very close to a major breakdown in the bond market. Now, I know the bond market has dodged a lot of bullets…so you could say ‘cryin’ wolf. Look how long the bond market has held in there. But you know what? It’s gonna hold up until it doesn’t. And when it breaks…this bond market is gonna unravel. The whole thing could unravel very, very quickly. This is what is so dangerous here. You have the bond market potentially about to break down, a major 30-year bull market about to unravel, you have the dollar getting ready to go over the edge of a cliff. “

Shiff also warns to not put your trust in the government or their bonds.

“Everybody belives the fed is going to shrink it’s balance sheet. Now, I don’t believe that but the markets believe it. Now, I checked the balance sheet on Thursday again. So far, it hasn’t shrunk at all. So there’s been no tapering.

The risk of a big drop in the bond market has never been this high. And what happens if the bond market tanks? That’s it. The stock market is gonna crash…there’s a massive crash coming. And if the fed is gonna panic, they’re gonna try to stop it.

[ZH: NOTE that since The Fed began "normalization" of the balance sheet, it has dropped a pitiful 0.22% in almost 4 months]

The feds will try to fix a stock market crash by not raising rates, which will lead to the imploding of the dollar.  Everything that can go wrong, will.

“I don’t know if this is going to unravel very quickly.  But it is close,” Shiff warns.


Caloot ironmace Wed, 01/17/2018 - 20:55 Permalink

All you folks calling this a new normal are blind as dead.   So what, the scumbags at the fed have created a weather balloon for all you money changers to get oh so rich.   All at the same time as millennial snowflakes are running around calling themselves 'them' because they believe they share their head with a fking 'dragon kin'.  A head mate. Lmfao.  Get fcking real, your as rich as that dumass that bought his 3rd home on a 2 and 1 arm in 06, with the equity from his 2nd condo as collateral.  Yea, cause that was the 'new' normal too.  Dum broken clockers are the fking real broken clocks.

In reply to by ironmace

tahoebumsmith BrokeMiner Wed, 01/17/2018 - 20:17 Permalink

Peter Schiff has been 100% correct on his predictions other then the timing and it's totally not his fault because nobody could have ever predicted in their wildest dreams that the Central Banks would print 30 TRILLION in Fiat to cover the Ponzi!
Peter is as dumbfounded by the irresponsible monetary policies as everybody else that understands the dire consequences and he knows probably better then most that this mother of all bubbles is going to send the entire Globe into complete turmoil when she blows.
There is nothing they can do now but print and inflate the equity markets because this is all they got left seeing how much the Central Banks will have to lose if the dominos start falling. They are at the breaking point they can't raise interest rates because they won't be able to service the debt. It's a total self inflicted global meltdown waiting to happen and when it does there will be some serious consequences to pay for purely utter financial nonsense. So you better get your gold now while you can and be prepared because 95% of the Global populations will be walking Zombies when this shit show comes unglued.

In reply to by BrokeMiner

10044 Wed, 01/17/2018 - 17:21 Permalink

Peter Shill: I have been wrong for 9 years, but don't let that annoy you. Buy my next book and I will show you how you can prosper (spoiler alert: buy gold)

dark fiber 10044 Wed, 01/17/2018 - 17:49 Permalink

Yeah he has been wrong for the past nine years, but central bank policy has also been getting more and more out of whack every single year.  Maybe there is connection between the two?  He is right on one thing the more this goes on the more there will be to pay when it crashes.  And we already have hell to pay.

In reply to by 10044

Clock Crasher Dr. Engali Wed, 01/17/2018 - 18:02 Permalink

Of the 3,000 mortgage bankers speech 300 showed up at his investment table.  Of those 300 only 1 individual enrolled with Schiff's hedge fund to short sub prime.  That investor realized 1000% gains inside of a year.  

No one made money with Schiff in subprime because no one could figure out what was going on despite being the very cogs and gears in the dooms day machine.  

Same thing going on today.  

In reply to by Dr. Engali

CNONC Clock Crasher Wed, 01/17/2018 - 20:43 Permalink

No debt.  No mortgage or rent.  Supply of food and consumables.  Tradable skill.  Cash on hand to pick up assets cheap during the fall.  PMs for the recovery.  The end will not be the zombie apocalypse or the "Mad Max" world.  It will be a repricing of debt and financial assets event which will last a few months on the way down, a couple years to get to the new equilibrium.  All you have to do is survive that. 

Large scale warfare changes the equation, but it is actually not that likely.  I believe our systemic extinction event will look a hell of a lot like the fall of the Soviet system.  When the gains from fleecing the citizens become less than the cost of keeping them quiescent, those doing the fleecing will quickly shift to picking apart the carcass of the failed economy.  It is then that a chance for a restoration of civilization is possible. 

The fact that you live part time in two countries makes your challenge a whole lot harder.  I don't envy your position.

(intended for Lost in Translation)

In reply to by Clock Crasher

Consuelo Wed, 01/17/2018 - 17:22 Permalink



If anyone has been listening to his podcasts of late (yes, I must confess...), the man is full-up giddy lately at the smell of a downturn.   

Funny how greed catches them all - every last one.

Sabibaby Wed, 01/17/2018 - 17:28 Permalink

Schiff needs to look up the definition on a market because he believes they go down too but in reality they only go one direction and that is up!