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Peter Schiff Says 1-2 Years At Most Before The Big Crash Comes
www.KerryLutz.com ^ | 02/03/2012 | Kerry Lutz

Posted on 02/03/2012 8:45:23 PM PST by appeal2

We caught up with Peter Schiff of EuroPacific Capital at FreedomFest's Global Economic Summit in the Bahamas. Peter is never shy about voicing his opinion about the impending crash of the US Dollar and the fiat monetary regime. While he's been warning us about the inevitable collapse, he's putting himself on the line now and believes that time is running short. He expects the event to occur within the next 1-2 years and believes that in addition to living on borrowed money, the government is also living on borrowed time.

As he sees it, interest rates have been suppressed for so long, that they have no place to go but up. Once this occurs, printing and borrowing to somehow achieve solvency will come to an end and then the political establishment is going to have to get serious about controlling spending and ending debt based economics. The unfortunate result will be a decrease in American living standards, however, there is a silver lining. And that is, should the Country adopt sound economic policies, we will rapidly emerge from the quagmire as an opportunity based economy once again.

Listen to Peter


TOPICS: Business/Economy; Government
KEYWORDS: crash; peterschiff
Peter was right in 2004 when he predicted the collapse of the real estate bubble and he's probably right now as well. One thing is for certain, betting against Peter could put you in the poor house.
1 posted on 02/03/2012 8:45:32 PM PST by appeal2
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To: appeal2

We are betting Peter is right. We have been getting ready for a couple of years now.


2 posted on 02/03/2012 8:48:44 PM PST by Georgia Girl 2 (The only purpose of a pistol is to fight your way back to the rifle you should never have dropped.)
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To: appeal2

The Great Fall


3 posted on 02/03/2012 8:49:50 PM PST by GeronL (The Right to Life came before the Right to Pursue Happiness)
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To: appeal2

Hope he can get hired by the next administration, we need his advice.


4 posted on 02/03/2012 8:51:00 PM PST by the jogger
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To: appeal2

ping


5 posted on 02/03/2012 8:53:43 PM PST by unkus (Silence Is Consent)
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To: appeal2

Wither Bernankes help the EU can has been kicked down the road, but look for the cracks to start forming there first. Already there are signs, for example some EU automakers are seeing 25% shifts in demand, and that kind of uncertainty is not normal. The lies published today about jobs are another example. Calm before the storm.


6 posted on 02/03/2012 8:55:07 PM PST by bigbob
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To: appeal2

Fantastic. Can’t wait.


7 posted on 02/03/2012 9:01:36 PM PST by max americana (Buttcrack Obama is an idiot)
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To: appeal2

2013 will see 0bamacare kick in and the Bush Tax Cuts will expire. Those two things alone are will be very detrimental to the economy.


8 posted on 02/03/2012 9:01:55 PM PST by unkus (Silence Is Consent)
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To: Georgia Girl 2
We are betting Peter is right. We have been getting ready for a couple of years now.

I believe Peter is right, but it's the timing that's the issue. I think 5 years is most likely the drop dead date.

9 posted on 02/03/2012 9:06:47 PM PST by Arkady Orinko
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To: Arkady Orinko

Yes its hard to know exactly when things will happen. Best thing is to just get ready for whatever comes.


10 posted on 02/03/2012 9:17:44 PM PST by Georgia Girl 2 (The only purpose of a pistol is to fight your way back to the rifle you should never have dropped.)
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To: All

On that day, the radios, internet and TVs will go black and be replaced with the audio of a man’s stern voice...

.....”This is John Galt speaking”


11 posted on 02/03/2012 9:27:57 PM PST by ak267
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To: appeal2

God, Guns, Gold and Groceries .... Stock up!


12 posted on 02/03/2012 9:40:38 PM PST by Tagurit (Are your pigs fed, watered and ready to fly?)
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To: the jogger

But then, it will happen, while the GOP, hopefully, controls everything important! Ignorant voters/stupid voters will vote, as a majority, for the Democrats/RINOS, yet again, in ‘13, ‘14, ‘15, and ‘16, as a result!


13 posted on 02/03/2012 9:43:41 PM PST by johnthebaptistmoore (If leftist legislation that's already in place really can't be ended by non-leftists, then what?)
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To: Arkady Orinko
We are betting Peter is right. We have been getting ready for a couple of years now.

I believe Peter is right, but it's the timing that's the issue. I think 5 years is most likely the drop dead date.

It will happen during Obama's regime. It has to so he can declare martial law and declare himself 'President for Life'.

14 posted on 02/03/2012 9:44:03 PM PST by chopperman
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To: Georgia Girl 2

I think you are overly optimistic. I doubt we’l make it through this year.


15 posted on 02/03/2012 9:47:50 PM PST by packrat35 (When will we admit we are now almost a police state?)
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To: appeal2

If Israel strikes Iran (there has been more and more chatter about this in last few weeks), it could very quickly trigger a major economic collapse...

Of course, Israel will be on solid-ground doing this but if subsequent economic strife occurs, the world will blame Israel...


16 posted on 02/03/2012 9:55:56 PM PST by wolf24
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To: appeal2

The tricky part is the timing. Schiff was way ahead on the original calls on gold and housing. Figuring out when we go over the deficit cliff next is pretty difficult, though it isn’t hard to figure out it is at this point inevitable.

2013 the Bush tax cuts expire. That might be the last straw.


17 posted on 02/03/2012 11:44:17 PM PST by FastCoyote (I am intolerant of the intolerable.)
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To: bigbob

Obama and Bernanke: Double-Whammy Disaster

He and Obama bamboozled millions... gave us the old 'okee doke.'

obama-ice-cream15-sm

18 posted on 02/04/2012 12:03:23 AM PST by BobP (The piss-stream media - Never to be watched again in my house)
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To: appeal2
however, there is a silver lining. And that is, should the Country adopt sound economic policies, we will rapidly emerge from the quagmire as an opportunity based economy once again.

Not going to happen. The smartest people in the room aren't going to listen.
19 posted on 02/04/2012 12:06:21 AM PST by Tzimisce (Never forget that the American Revolution began when the British tried to disarm the colonists.)
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To: Tzimisce

If we ever become again America the land of opportunity and a reward per effort and innovation society we must rid ourselves of the socialists among us. Currently we have the socialist equivalent of metastatic cancer, with ‘progressives’ and outright communists widespread. We must do the equivalent of aggressive chemotherapy to get rid of them.

I’m not in any way advocating violence (although the left often clearly does). I’m advocating an end to political correctness and the beginning of an aggressive in your face take no prisoners verbal and financial assault on the far left.

When we let the left characterize McCarthy as a nut we gave them one of the biggest gifts we could ever give them. We gave them a tool to shut down any legitimate concerns and discussion about the incursion of socialism / communism into our society. Then we let Kennedy and his country club limousine liberals change immigration policy to favor accepting into America those most likely to be swayed by leftist/socialist/communist propaganda.

It has to stop.


20 posted on 02/04/2012 5:15:49 AM PST by pieceofthepuzzle
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To: pieceofthepuzzle

I don’t think it’s going too.

All the 2012 frontrunners for President are for open borders, some type of state medicine, etc.


21 posted on 02/04/2012 6:36:39 PM PST by Tzimisce (Never forget that the American Revolution began when the British tried to disarm the colonists.)
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To: pieceofthepuzzle

Liberal control of education has to stop, too. Easier said than done but it’s 70% of the problem. People are so ignorant of basic economics because of public education. That if this wasn’t the case I’m sure we would NOT have a significant chunk of the problems we have today.

People used to educate themselves in libraries for crying out loud. I get it—some professions can use a more organized curriculum, but certain industries need to pull their heads out of the rears and find a way to render the degree requirements void. This has to happen; something has to happen with indoctrination.


22 posted on 02/04/2012 7:47:57 PM PST by CommieCutter
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To: appeal2

I for one don’t think Schiff is right this time. The article concludes that, after rates soar, the government will cut and reduce spending. Really? What is to stop the government from printing new money instead? I think they take the easy way out and print.


23 posted on 02/04/2012 8:54:34 PM PST by Freedom_Is_Not_Free
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