Peter Schiff on Impending Economic Collapse

'Crisis Only Just Beginning': Right About the Crash, Peter Schiff Sees More Pain Ahead

There's a popular YouTube clip called "Peter Schiff Was Right" that shows the president of Euro Pacific Capital engaged in on-air debates with financial luminaries such as Art Laffer and Ben Stein, circa 2006-07.

The clips show the wisdom of Schiff's dire forecasts — and, judging from the dismissive reactions, just how far he was outside the mainstream.

Ben Stein publicly apologized to Schiff in a New York Times column, but Laffer refuses to admit defeat, recently telling Bill Maher his economic forecasts have a statute of limitations of just nine months.

To his credit, Schiff isn't declaring victory, noting "100% of my forecast hasn't panned out," most notably "a major collapse in the dollar" that leads to a spike commodity prices.

As discussed in the accompanying video, Schiff believes the recent dollar rally and commodity price weakness will prove temporary.

Category:

News & Politics

Tags:

• Peter
• Schiff
• Was
• Right
• Economic
• Collapse
• Crisis
• Inflation

[golbyaka]

Why didn't Peter Schiff win the Nobel Peace Prize for Economics and Paul Krugmann did?

[hellbornelfchild]

he was so right. look at us now...

[zombiezombie1977]

Arther Laffer went to school with Summers and Bernanke:))) And Alan Greenspan was a maintenance guy with the keys to every room:))) thats how they got all this cerfiticates:)))

[ENDAMERICASOON]

Important point he made in the last few seconds of the interview 5:15 . he said that the Chinese, the Japanese and the Saudi are going to lend us money and that would delay the crash. look what happened a few days ago when the markets started to fall big money flowed into gold $1800 and us government bonds. its already stared the propping up of the us dollar by these countries. like peter said at some point we will have to pay the piper.

[1lastrun]

@hgrgic totally correct. You should watch the secret of oz. A very good documentary proving exactly what you just said.

[hgrgic]

They understand all of this very well, but the banks have the interests and political influence.

We`ll (and by "we" I mean The world) have to get rid of the existing banking system which is 80 or more percent (depending on the resevre ratio) selling of PURE AIR and making profit out of it by selling interest on the money that just doesnt exist yet. This should be totally illegal business.

[Blueslide]

Wasn't he saying that interest rates would skyrocket in 2005? When does that happen? I would have been impressed if he linked the bubble to the deregulation of the late 90's. that's when the ramp up began, 2005 was the end.

[xtop23]

very very smart man

[mkmason2002]

Peter Schiff = handsome genius! Mmmmwwwaaa! Love ya Peter!

[RonnieLeeDuck]

@golbyaka Because Krugman was more or less saying the same thing in a more mainstream outlet.