Peter Schiff, an economist and gold investment advocate, has warned that the United States economy is rapidly collapsing and the country is on the verge of a recession that may be even more severe than the Great Depression of the 1930s. In an interview on April 18, he stated that Trump’s tariff policies are exacerbating the current economic crisis. According to Schiff, rising inflation, increasing debts, high interest rates, and capital outflows from US financial assets will pave the way for the collapse of the banking system. He emphasized that if this trend continues, ‘all US banks will go bankrupt.’ He also warned that the Federal Reserve’s return to quantitative easing policies could lead to a sharp decline in the value of the dollar and result in a 20 to 30 percent reduction.
