Economist Peter Schiff: US Dollar Near ‘Historic Crash’ — ‘For | Blockchain Progress

Economist Peter Schiff: US Dollar Near ‘Historic Crash’ — ‘Forget Soft Landing, It’s Crash and Burn’

Economist and gold bug Peter Schiff is back with gloomy economic predictions in a series of posts on social media platform X. He wrote on Tuesday:

The U.S. dollar is on the verge of a historic crash. This will be a game changer for the Fed and the economy, as it will send inflation, interest rates, and unemployment soaring. Forget about a soft-landing. It’s crash & burn. The U.S. dollar is toast. As inflation heats up, to avoid getting burned the world will turn to gold as the most viable alternative.

In another post on Wednesday, Schiff detailed: “Bonds are rallying on the Fed’s Beige Book acknowledgment that the economy is slowing. Bond investors should be careful what they wish for. The economy is weaker than the Fed thinks and the result will be larger budget deficits and higher inflation."