Is A Dollar Collapse Coming?

Money For the Rest of Us

J. David Stein

Investing, Investing Podcast, Business, Economics, Economy

4.5 • 1.4K Ratings

🗓️ 1 August 2018

⏱️ 37 minutes

🔗️ Recording | iTunes | RSS

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Summary

#215 Will stagflation cause the dollar to crash and be a bottomless pit when the next recession hits? That is what Peter Schiff is predicting. We look at where he is right and where he seems to be off the mark when it comes to the U.S. economy and a dollar collapse. Thanks to Haven Life and Wunder Capital for sponsoring today's episode.

For show notes and more information on this episode click here.

Episode Chronology

[0:33] Is a dollar collapse imminent?
[3:07] Economic expansions don’t die of old age
[5:22] How tariffs and imports impact the US economy
[10:44] If the dollar has to crash, it does so relative to other currencies
[14:01] The relationship between the Federal Reserve and interest rates
[19:11] Bank deposits, savings, loans, and interest rates all contribute to the US economy today
[24:29] The relationship between money supply and inflation is essential to understand
[33:08] Why David doesn’t believe a dollar crash and economic ruin are on the horizon

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Transcript

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0:00.0	Welcome to Money for the rest of us. This is a personal finance show. It's on money. How it works, how to invest it and how to live without worrying about it.
0:09.0	I'm your host, David Stein. Today is episode 215. It's titled Is a Dollar Crash coming?
0:17.0	Last week on the Money for the Rest of Us Plus, member forums, a member posted the following.
0:27.0	He writes, just listen to Peter Schiff on Joe Rogan's podcast, rant about the upcoming collapse of the world financial markets.
0:35.0	I know he is a permabare and pushes buying gold through his own company of course,
0:41.0	yet he still has the ability to bring up a lot of fear in me.
0:47.2	Is he crazy or is he right?
0:51.2	Now, I had to look up who Peter Schiff was again. His website says he is an economist, financial
0:59.1	broker-dealer, author, frequent guest on National News, and host of the Peter Shift Show Podcast.
1:07.6	Joe Roggen's been a podcaster since 2009.
1:09.9	I don't regularly, or really, I don't think I've ever listened to his podcast and this
1:15.5	episode was three hours long but I decided to listen anyway.
1:23.0	La Perle and I were driving home from Salt Lake City.
1:26.6	We listened for over three hours because I would stop talking about what Schiff was saying and I found it a useful exercise because there is a
1:37.6	number of things that Schiff says that I agree with but there's probably more things he said that I disagree
1:45.6	it, or disagree with, including his contention that the economy is about to fall into a severe recession before Trump's first term
1:59.6	ends and that means the dollar is a bottomless pit.
2:05.0	That means nobody is going to want to own it.
2:09.0	And everybody is going to want to get out of dollars.
2:11.0	Everyone is going to want to get out of dollars.
2:12.0	Everyone is going to want to get out of any bond that is denominated in
2:16.2	dollars. That's his quote. When Rogan asked Schiff, why a recession was
	...

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