The sun might be shining as late summer provides a small dose of light relief, but the bad news never seems too far away these days. With a rather bleak looking winter on the horizon, people are understandably concerned about the ramifications of the ever increasing inflation we’re seeing, which is why I’ve fast tracked today’s guest back into the London Real hotseat.
Peter Schiff is an economist, author, financial commentator, and host of The Peter Schiff Show podcast. His accurate forecasts have made him one of the most sought-after commentators when it comes to matters of the economy.
The last time Peter joined me on the show we discussed the potentially catastrophic consequences of the coronavirus pandemic and how it would cause an unparalleled economic downturn that will result in hyperinflation and a world where the cost of food increases faster than the price of stocks!
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Alas, here we are.
As government spending continues to drive the narrative we are seeing unprecedented inflation and a cost of living crisis that is driving many to despair. Peter has spent recent months telling all who listen, that in actual fact, we are already deep into a recession and a financial crisis far worse than the one he correctly predicted in 2008, is very much on the cards.
Peter argues the Federal Reserve has flooded the economy with money. Money printing, or quantitative easing as it’s subtly referred to, has increased demand while decreasing supply. For Peter, that is why you’re seeing this huge increase in consumer prices right now.
“Printing money is merely taxation in another form. Rather than robbing citizens of their money, a government robs their money of its purchasing power.”
Peter’s career began at Shearson Lehman Brothers in the early 90s, before he co-founded Euro Pacific Capital where he continues to serve as CEO and Chief Global Strategist. Euro Pacific Capital’s investment strategy focuses on long-term wealth savings in the face of a declining US dollar with an emphasis on emerging market and commodity-focused investments.
Alongside this, Peter started SchiffGold in 2010 and serves as Honorary Chairman, having long reasoned that investors should allocate 10-20% of their portfolios to precious physical metals, as the safest hedge amid a collapsing world economy. In fact, Peter has become one of the loudest voices in the buy gold brigade, and it’ll perhaps be little surprise to many that in conjunction with this investment philosophy he is one of cryptocurrency’s most outspoken critics.
It was back in 2006 however, that Peter really made the headlines after being one of the very few economic forecasters on the mainstream networks to correctly predict the 2008 financial crisis. His expertise and sound understanding of money, economic theory, and international investing make him the go-to analyst on media outlets around the world from The Wall Street Journal and The New York Times, to CNBC, CNN, and Fox News.
He has spent time in the political arena, first serving as an economic advisor for Ron Paul’s 2008 presidential campaign and later running for the United States Senate in Connecticut in 2010, as a Republican, where his libertarian leanings made a case for change.
As an author, Peter has penned five bestselling books including the searing wake-up call Crash Proof: How to Profit From the Coming Economic Collapse, while his podcast The Peter Schiff Show gives daily updates on everything money related, from investments to government policy.
This interview might be one of the most important I’ve recorded for a while, as the warnings it contains will help all of you to better understand exactly why a world that relies so heavily on the US dollar, is on the brink of economic chaos.
Peter is a fantastic guy, who despite some often divisive opinions is right far more than he’s wrong. He looks at the wider picture and is passionate about his work. For him, we are sleepwalking our way to another disaster, one that probably can’t be reversed anytime soon, however, there are ways to hedge against such outcomes and we’ll certainly explore those in today’s episode.
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A number of clips from this exclusive interview are now available to download, share and repost. Spread the word: grab these clips today!
- Inflation was deliberately created
- The government is clueless about economics
- I don’t want anyone paying the income tax
- We’re already dealing with double digit inflation
- How did the Ukrainian war influence the US Dollar?
- Are we really facing a big financial recession?
- Criticizing Bitcoin and Michael Saylor
- Crypto is just a Ponzi scheme
- Why a Fedcoin can do even more harm to the economy
- The only way for me to get into the White House is by not being honest
- China will be the #1 economy in the world
- My father was not a criminal
- The government is not our saviour
- Inflation is here to stay and it will get even worse