The sharp increase in US debt is likely to be the quickest increase within a short period of time, and Schiff wonders if the year will end with a debt or dollar crisis.
Schiff, who predicted the 2008 crisis, has called for structural reforms that will encourage investment and job-creation and reducing the reliance on debt to fund government spending
Peter Schiff's tweet was fiercely criticized on Volodymyr Zelensky with users schooling him on how appearances don’t matter when there is a war going on.
"The main problem with bitcoin is it doesn't solve the problem of fiat money," said Peter Schiff, CEO of Euro Pacific Capital and a staunch defender of gold. "You have no store of value in bitcoin because there's no value to store."
According to Peter Schiff, CEO of Euro Pacific Capital, the recovery that the US economy is experiencing "is built entirely on the foundation of housing and stock-related wealth," and aggressive tapering will bring the end to "phony wealth" and the US economy "back in recession."
Squabbling in Washington over the debt ceiling is again raising the specter that the United States may be forced to delay payments on its debt. While the stigma of a default would be damaging enough to investor sentiment, the chaos from a breakdown in financial markets' systems that might result would be even scarier.
With gold hovering near a four-month low, even some of the yellow metal's most ardent fans have begun to sweat.
A Federal Reserve committed to ultra-easy monetary policy poses an even greater challenge to the US economy than "fiscal cliff," investor Peter Schiff said Tuesday.
The greenback and the US bond market are headed for a collapse as the Federal Reserve loses the ability to service the nation`s debt with "artificially low" interest rates, Peter Schiff, CEO of Euro Pacific Capital told CNBC on Wednesday.