Dollar will end, Gold will take its place:Economist who predicted 2008 recession says, ‘A big crisis is coming’

The US-based popular economist Peter Schiff has warned of a major economic crisis. Schiff believes that America is heading towards an economic crisis that will make the 2008 recession look like child’s play. The dollar is going to collapse and gold will take its place. According to Peter Schiff, central banks around the world are reducing their dependence on the dollar. They are increasing their gold reserves. Schiff’s statement comes at a time when there is heavy volatility in gold and silver prices in the global market. Gold had increased by 75% and silver by 167% in 2025. Crisis will be different from 2008, will remain centered on America Schiff said – The coming crisis will be completely different from 2008. The last crisis had spread throughout the world, but this will remain centered within America. Government figures not correct, gold shows the real picture Peter Schiff dismissed claims that describe the US economy as very strong. Schiff said that unfortunately these figures are not correct. These are very winding and will be improved. They are heavily impacted by inflation. In the coming years, inflation is going to be even more dangerous than during Biden’s time. Schiff said that rising gold prices are warning of the big crisis that is coming either at the end of this year or next year. Central banks around the world are buying gold to get rid of dollars. They are selling US Treasury. Gold is showing the real picture. The world economy doesn’t run because of us Schiff said that we depend on the world. They give us the goods that we don’t make. Trump is understanding this backwards. The world economy doesn’t run because of us, rather our economy runs because of the world. Our credit-based economy has deteriorated which is based on the dollar’s ‘reserve currency’ status. The dollar will collapse and gold will take its place. People are spreading fear unnecessarily, foreign investment at record levels: White House However, White House spokesperson Kush Desai said contrary to the American economist’s claim that the US Treasury’s foreign holdings have recently reached record highs. Business leaders are investing billions of dollars to invest in America and create jobs. Since President Trump took office, fearmongers have been making such predictions. Americans have seen inflation decrease and GDP growth accelerate. Peter Schiff is famous for his 2008 prediction Peter Schiff is a well-known American economist and founder of Euro Pacific Asset Management. He is known for accurately predicting the 2008 financial crisis. Schiff has always advocated precious metals as a safe investment alternative.