Peter Schiff and Greg Mannarino Tuesday 10-25-2022
Peter Schiff: When The Sucker's Rally Ends, The Dollar Will Crash
By Tyler Durdan” 10-25-2022
The world loves dollars. Whenever there is a problem, people flock to the dollar as a safe haven. But the US has problems of its own. In a podcast, Peter Schiff said America’s problems will eventually catch up to the dollar and at that point, the greenback will crash.
Peter said there are two possible ways the US can default — the honest way or the dishonest way.
But either is a disaster if you own US Treasuries. The honest way is just to admit that we can’t pay and we default. We restructure the debt and we tell our creditors, ‘You are not going to get your money.’
But I don’t think politicians have the integrity to do that. They’re going to take the coward’s way out. They’re going to print. They’re going to inflate the debt away.
That’s the only way out of this problem — monetize that debt and repudiate it through inflation, which is why it’s crazy for anyone to believe that the Fed is going succeed in reducing inflation back down to 2%. It can’t succeed.”
This is why Peter calls this a sucker’s rally. And when it ends, the dollar will crash.
https://www.zerohedge.com/markets/peter-schiff-when-suckers-rally-ends-dollar-will-crash
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Greg Mannarino: 10-25-2022