Peter Schiff: The Crash is Here

On Tuesday’s episode of The Peter Schiff Show, Peter warns that a sudden sell-off in U.S. assets is the opening act of a broader flight from the dollar. He connects the market moves to recent political rhetoric, warns that Treasuries are no longer a safe haven, and lays out the portfolio shifts he believes listeners should make now to protect and grow wealth as the dollar weakens.

He opens by describing how markets finally reacted once U.S. traders returned from the Martin Luther King holiday, calling it a decisive “sell America” day that he thinks will set the tone for the year:

Well, while Americans were enjoying a three-day holiday weekend courtesy of Martin Luther King, the rest of the world was reacting to some of the news that came out over the weekend and our markets finally got a chance to react today. It was a big day in the U.S. markets. Pretty much everything related to the United States was down. It was really a sell America day and I think this really is going to set the tone for the rest of the year. The Dow Jones dropped over 800 points today.

Next he pins the immediate catalyst on President Trump’s Greenland remarks, arguing that the rhetoric gave global investors a reason to move away from U.S. assets—something Peter says foreign holders should have done long ago: