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Economist Peter Schiff Warns of Imminent US Dollar Collapse, Touts Gold as Safe Haven
Economist Peter Schiff Warns of Imminent US Dollar Collapse, Touts Gold as Safe Haven
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Renowned economist Peter Schiff has issued a dire warning about the US dollar’s impending decline, citing mounting concerns over America’s financial stability amid global market volatility. In a May 6 social media post, Schiff predicted a "free fall" for the dollar and a parabolic rally for gold, framing the precious metal as the ultimate hedge against currency devaluation.
The warning comes as the dollar faces structural headwinds, including trade imbalances and diminishing reserve currency status. Schiff argues that only a dramatic shift away from dollar dominance can rectify these imbalances—a scenario that would likely accelerate cryptocurrency adoption as alternative stores of value.
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