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Financial Audit
Deep Dive
Why does Peter Schiff believe the national debt is a ticking time bomb?
The national debt has doubled under both Bush and Obama, and Schiff doesn't see how it can double again under Trump without a crisis. The only reason the debt can be serviced is due to historically low interest rates. If rates rise, even to normal levels, the U.S. won't be able to afford the interest, let alone repay the principal.
What does Peter Schiff recommend as a strategy to safeguard against potential market volatility?
Schiff recommends a shift toward gold and international markets to protect against market volatility. He believes these assets will perform better as the U.S. economy faces a crisis.
What are Peter Schiff's views on the potential impact of the Frexit (French exit from the EU)?
Schiff doesn't see Frexit as a panacea for France's problems. While France might benefit from fewer EU regulations, its issues stem from domestic socialism. Frexit could lead to even larger deficits and a more debased currency.
Why does Peter Schiff consider himself a non-biased investment advisor?
Schiff claims to be unbiased towards the truth, not beholden to corporate interests, and not cheerleading for the markets. He calls things as he sees them, highlighting the serious problems in the U.S. economy and offering solutions that have been ignored.
What does Peter Schiff predict for the U.S. economy in the coming years?
Schiff predicts a massive economic and dollar crisis due to unsustainable debt and low interest rates. He believes a collapse is inevitable and that the aftermath could lead to a re-embrace of capitalism and free-market principles.
What sectors and assets does Peter Schiff recommend for investment?
Schiff recommends gold, gold stocks, and international markets, particularly in countries like Switzerland, Singapore, New Zealand, Hong Kong, and China. He believes these areas offer better long-term fundamentals and growth potential compared to the U.S.
Why does Peter Schiff criticize the fiduciary rule proposed by the government?
Schiff believes the fiduciary rule is unnecessary government overreach that will increase costs and harm smaller investors. He argues that most brokers already act in their clients' best interests and that the rule would force actions contrary to clients' interests to mitigate legal liability.
What does Peter Schiff think about Bitcoin as an investment?
Schiff doesn't see Bitcoin as a reliable store of value or a replacement for gold. He believes it's more of a speculative asset with potential for government crackdown due to its association with criminal activities. He recommends gold over Bitcoin for its stability and reliability.
- National debt doubled under Bush, then again under Obama
- Servicing the debt is only affordable due to historically low interest rates
- Rising interest rates would make debt repayment impossible without destroying the dollar's value
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