The U.S. economy and financial system will soon face a crisis, thanks to
excessive easing by the Federal Reserve, predicts Peter Schiff, CEO of
Euro Pacific Capital.
"We're going to have to have a crisis on a much bigger scale than the one that's going on in Russia right now," he tells Newsmax TV's "America's Forum" show.
"We're not going to get a repeat of 2008, because the Fed is not going to allow that kind of crisis. If they raised interest rates, that's exactly what would happen. We'd have a worse financial crisis than 2008."
"We're going to have to have a crisis on a much bigger scale than the one that's going on in Russia right now," he tells Newsmax TV's "America's Forum" show.
"We're not going to get a repeat of 2008, because the Fed is not going to allow that kind of crisis. If they raised interest rates, that's exactly what would happen. We'd have a worse financial crisis than 2008."
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