Beautiful Virgin Islands

Saturday, Oct 04, 2025

Endgame for America: Dollar literally a BOMB that could go off any day, warns Peter Schiff

Endgame for America: Dollar literally a BOMB that could go off any day, warns Peter Schiff

The scale of money printing in the United States is unprecedented, says veteran stockbroker Peter Schiff. The deficits are “through the roof and the government is spending more money than ever before.”

Schiff, who is CEO of Euro Pacific Capital, told the MoneyShow that more than 60 cents out of every dollar the government is spending is being printed. So, the Federal Reserve is printing more money for the government to spend than the US government is collecting in taxes.

“The myth is that the US economy was strong before Covid. It wasn’t strong at all; it was the weakest it has ever been. It was the biggest bubble that has ever existed. That’s why the economy imploded so quickly as a result of Covid-19 lockdowns. The air started coming out in the fourth quarter of 2018… And the dollar is being wiped out.”

Schiff points out that “everything that the US government did in the aftermath of the 2008 financial crisis was a mistake.” All of its monetary policy was wrong, all of its fiscal policy was wrong. “As a consequence, we never actually recovered from the crisis, which was caused by the Fed and the government. We simply made all the problems that caused that crisis worse.”

America is about to experience inflation on an unprecedented scale, he says. The cost of living is going to skyrocket and it’s going to happen very quickly. “It’s going to hit people like a ton of bricks. And they are not going to see this coming.”

More people will be blindsided by the dollar crisis than by the financial crisis, and the dollar crisis is much worse, Schiff warns. “Because when we had a financial crisis, the Fed was able to print dollars to bail everybody out. When you have a dollar crisis that doesn’t matter anymore. You can’t print dollars because nobody wants them.”

He explains that will be a sovereign debt crisis, which means US Treasuries are going to go bad, as well as all debts denominated in US dollars.

The dollar “is going to fall through the floor and inflation is going to ravish the United States,” Schiff predicts, adding: “What’s about to happen is that the world is going to go off the dollar standard and go back to the gold standard. That is where we are headed.”

The current system doesn’t work, you can’t back your currency with an unbacked currency, he says. “The entire American economy is built on the foundation of the dollar being the world’s reserve currency. That is the secret source that makes this economy work. Once the dollar is just another currency, then it’s all over, it’s the end of the game for America.”

According to the economist, “The dollar could collapse any day, it is like literally a bomb. The key is to get money out of US dollars because it’s the dollar that is going to be collapsing.”

He says it’s reasonable to buy gold to ease the financial pain because “Gold and silver stocks are a bargain.”






Newsletter

Related Articles

Beautiful Virgin Islands
0:00
0:00
Close
Trump Administration Launches “TrumpRx” Plan to Enable Direct Drug Sales at Deep Discounts
Trump Announces Intention to Impose 100 Percent Tariff on Foreign-Made Films
Altman Says GPT-5 Already Outpaces Him, Warns AI Could Automate 40% of Work
Singapore and Hong Kong Vie to Dominate Asia’s Rising Gold Trade
Trump Organization Teams with Saudi Developer on $1 Billion Trump Plaza in Jeddah
Manhattan Sees Surge in Office-to-Housing Conversions, Highest Since 2008
Switzerland and U.S. Issue Joint Assurance Against Currency Manipulation
Electronic Arts to Be Taken Private in Historic $55 Billion Buyout
Thomas Jacob Sanford Named as Suspect in Deadly Michigan Church Shooting and Arson
Russian Research Vessel 'Yantar' Tracked Mapping Europe’s Subsea Cables, Raising Security Alarms
New York Man Arrested After On-Air Confession to 2017 Parents’ Murders
U.S. Defense Chief Orders Sudden Summit of Hundreds of Generals and Admirals
Global Cruise Industry Posts Dramatic Comeback with 34.6 Million Passengers in 2024
Trump Claims FBI Planted 274 Agents at Capitol Riot, Citing Unverified Reports
India: Internet Suspended in Bareilly Amid Communal Clashes Between Muslims and Hindus
Supreme Court Extends Freeze on Nearly $5 Billion in U.S. Foreign Aid at Trump’s Request
Archaeologists Recover Statues and Temples from 2,000-Year-Old Sunken City off Alexandria
China Deploys 2,000 Workers to Spain to Build Major EV Battery Factory, Raising European Dependence
Speed Takes Over: How Drive-Through Coffee Chains Are Rewriting U.S. Coffee Culture
U.S. Demands Brussels Scrutinize Digital Rules to Prevent Bias Against American Tech
Ringo Starr Champions Enduring Beatles Legacy While Debuting Las Vegas Art Show
Private Equity’s Fundraising Surge Triggers Concern of European Market Shake-Out
Colombian President Petro Vows to Mobilize Volunteers for Gaza and Joins List of Fighters
FBI Removes Agents Who Kneeled at 2020 Protest, Citing Breach of Professional Conduct
Trump Alleges ‘Triple Sabotage’ at United Nations After Escalator and Teleprompter Failures
Shock in France: 5 Years in Prison for Former President Nicolas Sarkozy
Tokyo’s Jimbōchō Named World’s Coolest Neighbourhood for 2025
European Officials Fear Trump May Shift Blame for Ukraine War onto EU
BNP Paribas Abandons Ban on 'Controversial Weapons' Financing Amid Europe’s Defence Push
Typhoon Ragasa Leaves Trail of Destruction Across East Asia Before Making Landfall in China
The Personality Rights Challenge in India’s AI Era
Big Banks Rebuild in Hong Kong as Deal Volume Surges
Italy Considers Freezing Retirement Age at 67 to Avert Scheduled Hike
Italian City to Impose Tax on Visiting Dogs Starting in 2026
Arnault Denounces Proposed Wealth Tax as Threat to French Economy
Study Finds No Safe Level of Alcohol for Dementia Risk
Denmark Investigates Drone Incursion, Does Not Rule Out Russian Involvement
Lilly CEO Warns UK Is ‘Worst Country in Europe’ for Drug Prices, Pulls Back Investment
Nigel Farage Emerges as Central Force in British Politics with Reform UK Surge
Disney Reinstates ‘Jimmy Kimmel Live!’ after Six-Day Suspension over Charlie Kirk Comments
U.S. Prosecutors Move to Break Up Google’s Advertising Monopoly
Nvidia Pledges Up to $100 Billion Investment in OpenAI to Power Massive AI Data Center Build-Out
U.S. Signals ‘Large and Forceful’ Support for Argentina Amid Market Turmoil
Nvidia and Abu Dhabi’s TII Launch First AI-&-Robotics Lab in the Middle East
Vietnam Faces Up to $25 Billion Export Loss as U.S. Tariffs Bite
Europe Signals Stronger Support for Taiwan at Major Taipei Defence Show
Indonesia Court Upholds Military Law Amid Concerns Over Expanded Civilian Role
Larry Ellison, Michael Dell and Rupert Murdoch Join Trump-Backed Bid to Take Over TikTok
Trump and Musk Reunite Publicly for First Time Since Fallout at Kirk Memorial
Vietnam Closes 86 Million Untouched Bank Accounts Over Biometric ID Rules
×