Peter Schiff had a very honest conversation about his predictions in his best-selling book The Real Crash with Wall Street Daily founder Robert Williams.
Williams started the interview by reminding the audience that while Peter is widely acknowledged for accurately predicting the 2008 financial crisis, few people remember what Peter’s bigger prediction is – that the ’08 crisis was just a foreshadowing of the real crash that is yet to come. Could 2015 be the year that crash happens? Peter thinks it might be.
Here are a few highlights from the interview:
The Real Crash: Americ... Best Price: $2.13 Buy New $2.99 (as of 08:20 EDT - Details) If the government allowed the recession, banks would fail. People would default on their debts… But that is more healthy, allowing that natural, free-market restructuring. That process is healthier and more conducive to a return to legitimate growth than what the Fed is doing… But the Fed is going to continue to fight this battle until it loses the war. That means the dollar collapses, and I think that’s ultimately where we’re headed…
“When I wrote ‘Crash Proof’ in 2005 and 2006… I wrote about the coming economic collapse. It wasn’t the one that happened immediately after the book came out. It wasn’t the ’08 financial crisis, even though that was a large part of my book… The first book basically laid out the premise that… in response to [the greatest recession since the great depression], the Fed would make the mistake of trying to stimulate the economy with cheap money… What I said is that action is what is going to bring about the economic crash…”
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