The US economy is now poised for a much bigger collapse. What’s coming is a sovereign debt crisis and a currency crisis that will make the financial crisis of ’08 look like the proverbial Sunday school picnic.
That’s according to the man who predicted the 2007 disaster, Euro Pacific Capital CEO and best-selling author, Peter Schiff, who delivered harsh warnings to investors in a recent Cambridge House Live interview.
U.S. Dollar Collapse
Schiff says, “The biggest threat is to the value of the dollar. And so a lot of American’s that depend on the dollar, depend on the dollar for their standard of living, people who are retired and people who have accumulated a lot of financial wealth, they need to take action quickly to divest themselves. So we recommend that clients own gold and silver.”
Current Gold Price
Can Gold Go As High As 5,000?
According to Peter Schiff, “I’ve been saying that since it was under 300! It might actually go a lot higher than that, because we are still pursuing these inflationary policies. Eventually who knows, there might not be a number large enough to describe what the price is going to be. As far as I’m concerned it should probably already be at 2500 or 3000, maybe higher.”