Peter Schiff is still one of the best financial commentators around today.
He may have been gotten a couple of prognostications wrong, such as gold hitting $5,000 per ounce, but Schiff’s analysis is still fundamentally sound.
Schiff recently appeared on RT’s “CrossTalk” to discuss the so-called K-shape recovery and other subjects. He spoke alongside Richard Wolff, who serves as Professor Emeritus of Economics at the University of Massachusetts Amherst.
Unsurprisingly, Wolff repeated the idea that the rich are getting richer and the poor are getting poorer.
While Schiff made some excellent points about the Federal Reserve and central planning, his comments about the house of cards crashing down for everybody, including the wealthy, was great.
“I assure you, it’s not. These asset bubbles are temporary. A lot of this wealth only exists on paper. … What is coming is a major collapse in the value of the dollar,” Schiff stated.
Here is the full interview:
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