Schiff w/ Sachs: The Dollar Has Lost 99% of its Value

In a recent interview with Todd Sachs of Sachs Realty, Peter breaks down the true origins of America’s economic imbalances, highlighting the disastrous role of the Federal Reserve and misguided government policy. He critiques popular political solutions like tariffs, sounds the alarm on the ongoing decline of the dollar, and explains why precious metals remain a vital defense for savers. Peter also tackles issues from student debt to the housing market, warning listeners that the current system is fueled by unsustainable government intervention.

Early in the interview, Peter points out that, while politicians like Donald Trump identify symptoms such as trade deficits, their remedies threaten to make the situation worse. He delivers a clear message about the importance of sound money and open trade:

Donald Trump does a good job of pointing out some of the consequences of bad monetary and fiscal policy, like our huge trade deficits. But his prescription is completely wrong. He says, well, you know, what we need is tariffs and rate cuts, and we actually need the opposite of that. We don’t need any tariffs; we need free trade. But we need rate hikes. The reason that our trade deficits are so big is because our interest rates have been so low and they’ve encouraged excess consumption.