'We're On The Brink Of Collapse' - Why This Economic Crash Will Be Worse Than 1929 | Peter Schiff

Welcome to another eye-opening episode of Impact Theory with Tom Bilyeu. Today, we delve into the looming economic turbulence with financial expert Peter Schiff. In this episode, titled "We're On The Brink Of Collapse - How The Everything Bubble Will Crash The Economy," we explore the potential downfall of the U.S. dollar as the reserve currency and its ripple effects on inflation and consumer goods.

Peter Schiff pulls no punches as he shares his insights on the monumental challenge of rebuilding U.S. manufacturing amidst high government regulations and taxes. He reveals the stark contrast between government-reported economic health and the reality of high inflation, unemployment, and a contracting economy. We discuss the power of media and political manipulation of public perception and the true cost of inflation, equating price increases to a hidden tax burdening citizens.

Schiff discusses strategic steps to protect your wealth, including investing in high-dividend, inflation-resistant companies globally, and stockpiling non-perishable goods. Additionally, he highlights the dangerous potential for a sudden, severe inflation spike and the importance of diversifying investments into precious metals and foreign markets.

We also cover the broader impacts of the U.S.'s economic policies on global trade and the precarious position of the dollar. Schiff argues for a return to the gold standard, scrutinizes contemporary political promises, and the implications of price controls, predicting a future where inflation accelerates and living costs soar.

Join us as we navigate these complex financial landscapes and uncover strategies to safeguard your financial future in uncertain times. Whether you're an investor, a concerned citizen, or someone passionate about economic policy, this episode is packed with crucial insights and practical advice. Stay tuned!

00:00 Government manipulates CPI, affecting inflation perception.
14:21 High interest rates would bankrupt the government.
28:56 Creating inflation harms everyone, unfairly distributing losses.
35:30 AI-driven productivity might reduce debt, improve living.
45:53 Federal Reserve pays profits back to the government.
55:12 Harris criticizes Biden while claiming bidenomics success.
01:09:28 ID laws vary; Puerto Ricans can't vote federally.
01:19:21 Constitutional checks eroded; government ignoring prohibitions.
01:28:51 Tax on appreciated assets would destroy economy.
01:34:54 Government regulation raises prices; market uses competition.
01:44:26 Invest in high-dividend, inflation-resistant essential businesses.
02:03:41 Dollar decline will trigger inflation and exodus.
02:10:14 Identify valuable stocks in promising sectors.
02:23:53 Choose bullion for value, investments for returns.
02:26:15 Multiple jobs, no savings, massive credit card debt.

dollar reserve currency, U.S. manufacturing, economic manipulation, public perception, high inflation, unemployment rates, Kamala Harris leadership, media influence, investment strategy, foreign investments, global economic impact, portfolio construction, government spending, price controls, inflation protection, U.S. bonds, corporate bonds, dividend-paying companies, gold standard endorsement, Federal Reserve policies, democracy vs. republic, taxing unrealized gains, housing market policies, debt and interest rates, hyperinflation, fiat currencies, social media presence, gold price prediction, reserve currency status, remonetizing gold.

[aubrey.trades]

Honestly, I've gotten to the point where I've stopped watching this channel because I assume everything is a re-upload at this point.
You should really do something that clues in your regular viewers.

I know this is a new video, but the level of hesitation I have when I see a notification from this channel now is HUGE

[Kin--]

Transfer of wealth usually occur during market crash, so the more stocks drop, the more I buy, in the meanwhile I'm just focused on making better investments and earning more as recession fear increases, apparently there are strategies to 3x gains in this present market cos I read of someone that pulled a profit of $350k within 6months, and it would really help if you could make a video covering these strategies.

[keithdesantis]

Been listening to Mr Schiff for the last 4yrs. His predictions and explanation of the present times has always been very accurate with no BS.

[MusharafMusharaf-rify]

ETH has its merits, but Norvenai growth potential is alluring. Made the switch and feeling optimistic!

[dkerdnase]

Man this is amazing content. Good to see right leaning and left leaning people have a constructive discussion/debate. Thank you Tom.

[devenchyk]

I have not heard anyone give one good reason why they would be allowing all these millions of people to come here & financially prop them up in these sanctuary cities & not arrest the known criminals. The only reason that makes sense is so they can vote & work for cheaper wages & less benefits.

[clffeingold]

Tom, illegals are voting. Your refusal to acknowledge that fact concerns me. Maybe stop letting the uninformed public influence you so much?

[swanee]

Peter is the best...smart, very knowledgable, and honest.

[cdevidal]

Peter has correctly predicted 200 of the last two recessions

[barbaraatkinson]

Great to see Tom starting to understand the who what and why all this is happening, your voice is so important,

[ArmanKhan-huhp]

I have a fairly large holding of Norvenai. And 90% or it is because I believe in the asset itself. Its actually the chain that makes me want to dev on top of it and learn Haskell.

[BigWickTraders]

Is this yet another recycled video? If not I apologize, but the one thing that hurts this channel over everything else is the obvious money grab of recycling old content when your competitors don’t do it at nearly the same rate or at all

[Asawyer-uq]

every market sectors are in an uncertain position, might opt out of stocks entirely if it crashes. I keep asking when it would be stable with global situation right now.

[Donald-George]

Honestly, this concerns me and has left me uneasy. Especially this potential depression, no more a recession. I'm unsure about my $130K account strategy, considering the uncertainty of this whole recession mostly.

[Jaynick]

He is correct about illegals in Vegas NV. People were in grocery parking lots trying to register people to vote and stated that it didn't matter if you were a citizen or not. I was asked on Two different weekends. They were out there for at least 3 weekends.

[KariEllenJames]

Tom is fast becoming my favourite interviewer. Really good at sticking to his guns and getting the guest to properly answer the questions, and exceptional at counter-argument.

[K-Tube]

This guy has been saying for the past 20 years the economy is on the brink of collapse. When the economy finally breaks he'll come up saying "I told you!"

[zenglider]

Tom's right. The ability of americans to connect actual socio/economic outcomes to their voting for socialism's politicians is miniscule, but their gullibility in attributing credibility to socialism's claims of future benefits is enormous.

[michaelnorth]

MY FIRST WIFE WAS A GREEN CARD in 1997 AND WHEN SHE GOT HER DRIVERS LICENSE THEY SIGNED HER UP TO VOTE AND AS A DEMOCRAT. I found this out when the voting information arrived in the mail. So yes some foreigners do get to vote

[A.I.-]

You're suppose to PREPARE, get a small piece of land (your first priority); Grow your own fruit trees or food forest and vegetable garden. Have chickens and rabbits. Capture rain water and have solar and wind energy. These should be the basics and fundamentals for preparation.
You're first priority are Food, Water, Energy and Shelter >>> You won't be able to eat (nor barter) your gold/crypto/money.

If you're like Tom and has means to afford it, this should have/be organize as your preparation/investment. If not, you should work towards it.