Bitcoin.com - Dollar Collapse Nears: Peter Schiff Says Ending Reserve Status Is Only Way Out
Article by Kevin Helms in Bitcoin.com
Economist and gold advocate Peter Schiff issued a sweeping critique of U.S. economic policy on May 6, using social media platform X to warn of an impending collapse in the value of the U.S. dollar. Citing structural trade deficits and a lack of monetary discipline, Schiff argued that America’s financial stability is rapidly deteriorating:
“The U.S. dollar is about to free fall and gold will soar to heights few can imagine. The only way to end America’s massive trade imbalance is to end the dollar’s role as the global reserve currency.”
While highlighting gold’s potential rise, his broader message focused on the systemic weaknesses of the dollar-backed economic model.
In response to a scenario posted by investor Bill Ackman—who proposed a .....