{"id":48555,"date":"2019-09-19T16:13:57","date_gmt":"2019-09-19T21:13:57","guid":{"rendered":"https:\/\/olduvai.ca\/?p=48555"},"modified":"2019-09-19T16:14:07","modified_gmt":"2019-09-19T21:14:07","slug":"peter-schiff-the-next-crash-could-bring-down-the-fiat-money-system","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=48555","title":{"rendered":"Peter Schiff: The Next Crash Could Bring Down the Fiat Money System"},"content":{"rendered":"\n<h3 class=\"wp-block-heading\"><a href=\"https:\/\/schiffgold.com\/videos\/peter-schiff-the-next-crash-could-bring-down-the-fiat-money-system\/\">Peter Schiff: The Next Crash Could Bring Down the Fiat Money System<\/a><\/h3>\n\n\n\n<figure class=\"wp-block-image\"><a href=\"https:\/\/1mo0o3e03f7c59k045fwasgb-wpengine.netdna-ssl.com\/wp-content\/uploads\/2019\/09\/peter-rt917.png\"><img decoding=\"async\" src=\"https:\/\/1mo0o3e03f7c59k045fwasgb-wpengine.netdna-ssl.com\/wp-content\/uploads\/2019\/09\/peter-rt917.png\" alt=\"\"\/><\/a><\/figure>\n\n\n\n<p>Peter Schiff appeared on&nbsp;<em>RT Boom Bust<\/em>&nbsp;on Tuesday (Sept. 17) to talk about interest rates,&nbsp;<a href=\"https:\/\/schiffgold.com\/buy\/gold\/\">gold<\/a>&nbsp;and the dollar. Peter said the fiat currency system may not survive the next recession.<\/p>\n\n\n\n<p>The conversation started focusing on the&nbsp;<a href=\"https:\/\/schiffgold.com\/key-gold-news\/fed-runs-repo-operations-is-it-baby-stepping-toward-qe\/\">repo operations conducted by the Federal Reserve<\/a>&nbsp;early in the week, Peter said the financial media and Wall Street are being much too complacent about what\u2019s going on.<\/p>\n\n\n\n<figure><iframe loading=\"lazy\" src=\"https:\/\/www.youtube.com\/embed\/W779wtZhbdg\" width=\"560\" height=\"315\" allowfullscreen=\"allowfullscreen\"><\/iframe><\/figure>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p>Their instinct is to sweep it under the rug as no big deal, but I think it really is a harbinger of what\u2019s to come.\u201d<\/p><\/blockquote>\n\n\n\n<p>Peter noted that the Fed has been artificially suppressing interest rates, particularly since the 2008 financial crisis.<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p>And by keeping interest rates artificially low, they have created a bubble that\u2019s much bigger than the one that popped in 2008. And what happened this morning is you could see the air coming out of that bubble, because the market is trying to bring interest rates higher because we have no real savings in this country. We have enormous debt. Everybody is levered up to the max \u2014 government, the private sector, business, consumers \u2014 because rates have been so low, we\u2019ve borrowed so much money. The market wants interest rates to be higher but the Fed doesn\u2019t want that to happen because the road back to normal interest rates is a very bumpy one because it\u2019s going to take us right through another financial crisis. So, the Fed is trying to keep interest rates artificially low and they almost lost control of it this morning. \u201c<\/p><\/blockquote>\n\n\n\n<p>In effect, the Fed created about $50 to $70 billion out of thin air to supply the liquidity that the market needed.<\/p>\n\n\n\n<p>&nbsp;\u2026click on the above link to read the rest of the article\u2026<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Peter Schiff: The Next Crash Could Bring Down the Fiat Money System Peter Schiff appeared on&nbsp;RT Boom Bust&nbsp;on Tuesday (Sept. 17) to talk about interest rates,&nbsp;gold&nbsp;and the dollar. Peter said the fiat currency system may not survive the next recession. The conversation started focusing on the&nbsp;repo operations conducted by the Federal Reserve&nbsp;early in the week, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[309,21879,3650],"class_list":["post-48555","post","type-post","status-publish","format-standard","hentry","category-economics","tag-fiat-currency","tag-schiff-gold","tag-us-federal-reserve"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/48555","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=48555"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/48555\/revisions"}],"predecessor-version":[{"id":48556,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/48555\/revisions\/48556"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=48555"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=48555"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=48555"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}