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Peter Schiff: The U.S Dollar Will Collapse


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Just now, Killer Bunny said:

Come on then what currency will it be? ?

Gold will eventually take its place.  Central banks are buying it for  a reason and they will adopt it once again

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25 minutes ago, Killer Bunny said:

It’s going to be the Reserve currency at least until we die.

At the very least until Schiff the muppet dies, that's for sure.

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25 minutes ago, Warlord said:

Gold will eventually take its place.  Central banks are buying it for  a reason and they will adopt it once again

Ach I thought you were going to say something unusual. Of course Gold will be the last but US$ will always be No 1 paper.

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6 minutes ago, Killer Bunny said:

Ach I thought you were going to say something unusual. Of course Gold will be the last but US$ will always be No 1 paper.

Wrong again. 

It's going to be worthless in a few years. Just watch.  Schiff is right (again). When will you learn?

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I don't really understand how the US dollar may collapse. Will it collapse against other currencies, or assets denominated in USD will shoot up or what?

US imports stuff priced in USD so depreciation of USD against EUR or JPY just means that exporters in Germany or Japan will receive less for their export. At the same time US exporters will become more competitive abtoad. So it is positive for US and negative for other countries.

So probably USD collapse actually means asset bubbles and we are actually seeing it everywhere now, not only in US. How this will end up is very difficult to predict. However, gold is probably also one asset class experiencing a bubble and it will deflate similar to all other assets if/when the bubble is burst.

 

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10 minutes ago, AAA said:

I don't really understand how the US dollar may collapse. Will it collapse against other currencies, or assets denominated in USD will shoot up or what?

 

It'll end up in similar value to the Zimbabwe dollar or the peso. How do you value that ?

 

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There is too much demand for the dollar, unlike Zimbabwe.  I initially got sucked in by Schiff, as it was in tune with what I wanted to believe.  Selling that story is how he makes his money and he makes a LOT (net worth $70-80 mill) You can be assured his investments are spread.

 

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Posted (edited)
2 minutes ago, dirtyduck said:

There is too much demand for the dollar, unlike Zimbabwe.  I initially got sucked in by Schiff, as it was in tune with what I wanted to believe.  Selling that story is how he makes his money and he makes a LOT (net worth $70-80 mill) You can be assured his investments are spread.

 

Schiff's has been consistent. He has just underestimated the ability to 'kick the can down the road' but as he says you eventually run out of road.  He says the collapse is just taking longer but his analysis is consistent.

Edited by Warlord
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1 minute ago, thecrashingisles said:

Gold bugs’ gonna gold bug.

Laugh all you want ... we will have the last laugh as your paper and FIAT is worthless while my Britannia's  will be worth thousands (they already are! )

 

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Just now, Warlord said:

Schiff's has been consistent. He has just underestimated the ability to 'kick the can down the road' but as he says you eventually run out of road.  He says the collapse is just taking longer but his analuysis is consistent.

You gotta look at timelines warlord.  I think I was 34 when I was listening to the same mantra.  I’m 47 now and the pied piper is playing the same song.  The only difference is that I have a better understanding how money works.  I’m with you on the shiny, but I don’t see it playing because of a dollar collapse.

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1 minute ago, dirtyduck said:

You gotta look at timelines warlord.  I think I was 34 when I was listening to the same mantra.  I’m 47 now and the pied piper is playing the same song.  The only difference is that I have a better understanding how money works.  I’m with you on the shiny, but I don’t see it playing because of a dollar collapse.

 The analysis is correct it's just taking longer to play out. He has addressed this point in detail on his podcasts and explains why/what he said and what is going to happen now. Hint: there is no escaping it this time. So , you should prepare yourself.

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1 hour ago, Killer Bunny said:

It’s going to be the Reserve currency at least until we die.

Planning a bad COVID reaction?

Edited by Mikhail Liebenstein
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58 minutes ago, Warlord said:

Wrong again. 

It's going to be worthless in a few years. Just watch.  Schiff is right (again). When will you learn?

Pathetic. Go walking around with your gold and buy a loaf of bread.

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53 minutes ago, AAA said:

I don't really understand how the US dollar may collapse. Will it collapse against other currencies, or assets denominated in USD will shoot up or what?

US imports stuff priced in USD so depreciation of USD against EUR or JPY just means that exporters in Germany or Japan will receive less for their export. At the same time US exporters will become more competitive abtoad. So it is positive for US and negative for other countries.

So probably USD collapse actually means asset bubbles and we are actually seeing it everywhere now, not only in US. How this will end up is very difficult to predict. However, gold is probably also one asset class experiencing a bubble and it will deflate similar to all other assets if/when the bubble is burst.

 

US$ will be the last paper currency standing. Nothing else comes close. As if anybody could think differently.

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46 minutes ago, Warlord said:

Spike in gold puts dollar's reserve status in question: Goldman Sachs

https://thehill.com/policy/finance/509368-spike-in-gold-shows-dollars-reserve-status-in-question-goldman-sachs

 

Not just Schiff saying it @Killer Bunny but Goldman Sachs the preeminent investment bank.

So do you want to correct the record?

FFS. After a crash they’re saying sell it. Are you naive or just what?

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40 minutes ago, Warlord said:

Schiff's has been consistent. He has just underestimated the ability to 'kick the can down the road' but as he says you eventually run out of road.  He says the collapse is just taking longer but his analysis is consistent.

Yeah. Jeremy Corbyn and Keir Starmer are equally consistent. ly wrong.

Of course he’s FINALLY right about Gold but he’s been wrong for ever and still wrong on most issues. Very rich though selling crap.

Edited by Killer Bunny
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37 minutes ago, Warlord said:

Laugh all you want ... we will have the last laugh as your paper and FIAT is worthless while my Britannia's  will be worth thousands (they already are! )

 

The question is not about paper but about the US$. It is the only paper that will survive.
 

In a mega downtrend now for sure. Rally for the Summer.

Edited by Killer Bunny
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