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The Megyn Kelly Show

Perhaps few Americans believe the words of the Canadian I quoted yesterday: ‘Murka is done, it is finished…’ Perhaps it is worth mentioning yesterday’s exchange on Megyn Kelly’s Show with Peter Schiff about what will happen to the economy when inflation skyrockets in the US (what Americans are suffering now is inflation, not hyperinflation).

Peter Schiff: But when the dollar loses its status, then the rest of the world isn’t going to want dollars anymore… So, what would have to happen if the dollar is no longer the reserve currency, is: American spending would implode, consumption would collapse because we will have nothing to buy, and so our entire GDP would implode. We’ll have a massive recession because Americans wouldn’t be buying anything because we couldn’t afford anything and all the shelves would be empty because foreigners wouldn’t be sending us the stuff that they produce and we don’t have the capacity to produce it for ourselves.

Megyn Kelly: What is the likelihood that that will happen?

Peter Schiff: Oh, a hundred percent.

Biden’s recent sanctions only prompted Russia and other countries to dump the dollar and start trading in gold, or fiat currencies such as the rouble, the Chinese yuan or the Indian rupee. If you are rich, brace yourself by buying gold. If you are poor, buy silver (Bitcoin will collapse even before the dollar crashes).