{"id":69212,"date":"2021-05-26T15:00:18","date_gmt":"2021-05-26T23:00:18","guid":{"rendered":"https:\/\/www.cogwriter.com\/news\/?p=69212"},"modified":"2021-05-26T05:17:44","modified_gmt":"2021-05-26T13:17:44","slug":"dollar-is-going-to-collapse-peter-schiff","status":"publish","type":"post","link":"https:\/\/www.cogwriter.com\/news\/prophecy\/dollar-is-going-to-collapse-peter-schiff\/","title":{"rendered":"Dollar is Going to Collapse \u2013 Peter Schiff"},"content":{"rendered":"

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\n(Unsplash photo)<\/em><\/p>\n

COGwriter<\/a><\/p>\n

Notice the following:<\/p>\n

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Dollar is Going to Collapse \u2013 Peter Schiff<\/h2>\n

Money manager and economist Peter Schiff says all the debt and money printing by the Fed will, ultimately, get down to one thing and that is the U.S. dollar. … In 2021, the consequences of \u201cmoney for nothing\u201d are finally kicking in.\u00a0 Schiff explains, \u201cThe inflation crisis and the dollar crisis . . . are a much bigger economic event that will have a much greater impact than the 2008 financial crisis.\u00a0 <\/span>I have been warning about the consequences of all this money printing for years and years.\u00a0 Now, finally, you are really starting to see that.\u00a0 The government has been able to bury the amount of inflation they have been creating because of the CPI (Consumer Price Index).\u00a0 The CPI doesn\u2019t really capture the degree that prices are going up.\u00a0 So, it creates a false sense of confidence that we haven\u2019t had inflation, but now prices are rising so rapidly that even the government\u2019s doctored CPI number can\u2019t hide it. . . . We are getting these huge price increases across the board.\u201d<\/p>\n

How worried should people be about all the Fed money printing?\u00a0 Schiff warns, \u201cThe Fed says there\u2019s nothing to worry about.\u00a0 … The dollar is going to be crashing, and they can\u2019t bail anybody out from a dollar crash because all they can do is print more dollars, which will just accelerate the collapse of the dollar.\u201d<\/p>\n

The warning is simple.\u00a0 Schiff says, \u201cThis is a completely dysfunctional economy that is going to collapse when the bottom drops out of the dollar.\u00a0 I think that crisis is close at hand.\u201d<\/p>\n

In closing, Schiff points out, \u201cGold and silver are very cheap.\u00a0 Everything is in a bubble except gold and silver because gold and silver are real money. …” 05\/25\/21 https:\/\/usawatchdog.com\/dollar-is-going-to-collapse-peter-schiff\/<\/a><\/p><\/blockquote>\n

While the Bible shows that gold and silver will one day be considered worse than useless (cf. Ezekiel 7: 19), it also shows that it will have value after the USA is defeated (cf. Daniel 11:39-43).<\/p>\n

That being said, yes the USA dollar will collapse one day.<\/p>\n

Notice the following assessment from last Fall:<\/p>\n

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\u201cUnless the US stops printing money, the dollar will collapse.\u201d<\/h2>\n

October 27, 2020<\/p>\n

There seems to be a wide rift in US politics, which is not just pragmatic or ideological, but perceptual too: The two \u201ccamps\u201d and their supporters appear to be living in and arguing about two different versions of reality, and neither corresponds to the actual experiences of most ordinary citizens, taxpayers and savers. This disconcerting dissonance became painfully apparent in the first Presidential debate, at least to those who had the patience to keep watching after the first few minutes. It was especially pronounced when the candidates were asked about their economic policies and recovery plans. Both had all these grand plans, big-spending dreams and voter-pleasing promises, and for those of us who understand even the very basic lessons from our monetary history, one thing was clear as day: If there\u2019s one thing the two sides can agree on, it\u2019s that fiscal prudence, responsibility and long-term thinking, are at the bottom of their priority list. …<\/p>\n

Claudio Grass (CG): For any student of monetary history, the past decade was a fascinating period. Many of us expected this reckless experiment with QE, negative rates and aggressive expansionism by central bankers to end in tears, but few could have foreseen the response to the Covid crisis. Do you expect this move to \u201cdouble down\u201d on bad policies to expedite the monetary system\u2019s demise or perhaps to breathe new life into it and simply prolong it?<\/strong><\/p>\n

Patrick Barron (PB): An old grad school professor of mine always reminded us that all analogies distort, yet I will give an analogy just the same. Printing money is analogous to taking some stimulant such as cocaine. Taking cocaine and printing money out of thin air don\u2019t really improve one\u2019s health or the economy, and the user and the economy may improve due to other factors. But over time, one needs to take bigger and bigger doses in order to achieve the same effect. If the drug user continues, at some point the drug will kill him. How much cocaine is too much? No one knows.<\/p>\n

Undoubtedly the dosage differs with the individual\u2013the stronger being able to take larger doses over a longer period of time than the weaker. The US is stronger than Zimbabwe, for example. This means that the US can print more money over a longer period of time. But it does not mean that the US can print money forever and in ever increasing quantities and always experience the same artificial high. No one really knows when the dollar will collapse. But, we do know that unless the US stops printing money, the dollar WILL collapse. The response to the Covid crisis has undoubtedly hastened that day. https:\/\/claudiograss.ch\/2020\/10\/unless-the-us-stops-printing-money-the-dollar-will-collapse\/<\/a><\/p><\/blockquote>\n

Yes the responses of many federal and state governments in the US, that are blamed on COVID-19, are hastening the day that the US dollar will collapse. As far as gold and silver goes, there will be issues with them, but they will have value for a time after the US dollar collapses (see also The Plain Truth About Gold in Prophecy. How Should a Christian View Gold?<\/a>).<\/p>\n

The US dollar will one day be worth no more than its scrap or burning value, other than perhaps as a collector’s novelty.<\/p>\n

As far as gold as a partial replacement for the US dollar, the Continuing<\/em> Church of God<\/a> (CCOG) put out the following video on our Bible News Prophecy<\/a> YouTube channel:<\/p>\n

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12:30 <\/span><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n
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Gold Backed Currency to Replace the US Dollar?<\/a><\/h3>\n<\/div>\n<\/div>\n

China introduced something that was called the gold-petro-yuan back in 2018. Since then, the global share of US-dollar-dominated exchange reserves have dropped to 59.0%. In April 2021, China became the first major economy to unleash a Central Bank Digital Currency. China also has given its banks permission to import large amounts of gold. Is China preparing for a gold-backed yuan to push aside the US dollar or to help it survive a US dollar cataclysm? Are other nations preparing to push the US dollar aside? Do Europeans seem to have the most gold? Are Europeans prophesied to gain more gold? Is the US debt trajectory sustainable per Fed Chairman Jerome Powell? Does the Bible warn of the end coming to the highly indebted in Habakkuk 2:6-8? Why does it looked like a gold-backed currency will replace the US dollar? Will the US dollar, ultimately, become essentially worthless? Dr Thiel addresses these issues and more.<\/span><\/a><\/p><\/blockquote>\n

Here is a link to our video: Gold Backed Currency to Replace the US Dollar?<\/a><\/p>\n

The US dollar will collapse a few years before the end of that 6,000 years and Jesus returns.<\/p>\n

This would suggest prior to 2028 (watch Is the US prophesied to be Destroyed by 2028<\/a>).<\/p>\n

Here is something related to debt and the US dollar from my book Biden-Harris: Prophecies and Destruction<\/a>:<\/p>\n

Joe Biden and many other American politicians have not run away from increasing U.S.A. debt\u2014that will be to the nation\u2019s peril.<\/p>\n

The Bible warns about something that will happen to a heavily indebted nation. Notice what the Hebrew seer\u00a0Habakkuk\u00a0wrote over 2,600 years ago:<\/p>\n

3<\/sup> For the vision is yet for an appointed time<\/strong>; But at the end<\/strong> it will speak, and it will not lie. Though it tarries, wait for it; Because it will surely come<\/strong>, It will not tarry … 5<\/sup> Indeed, because he transgresses by wine, He is a proud man \u2026 6 <\/sup>\u201cWill not all these take up a proverb against him, And a taunting riddle against him, and say, \u2018Woe to him who increases What is not his\u2014how long? And to him who loads himself with many pledges\u2019? 7 <\/sup>Will not your creditors rise up suddenly?<\/strong> Will they not awaken who oppress you? And you will become their booty. <\/strong>8<\/sup> Because you have plundered many nations, All the remnant of the people shall plunder you\u2026 <\/strong>(Habakkuk\u00a02:2-3,6\u20138).<\/p>\n

Notice that what is to happen is so bad, that people who read the prophecy should run, when it is time for it to be fulfilled. Since that prophecy is to be fulfilled at the appointed time of the end, it is still for the future, but perhaps not too far distant in the future. No nation has ever been in as much total debt as the U.S.A.<\/p>\n

The \u201cU.S. is highly vulnerable to loss of confidence by foreign creditors.\u201d[i]<\/a> U.S. government debt is \u201cextremely vulnerable to foreign attack because of the high percentage of foreign ownership \u2014 almost 40% of the market.\u201d[ii]<\/a><\/p>\n

Interestingly, in the past, one foreign creditor, China, has raised concerns about the U.S. debt that are so serious, that its potential dumping of that debt has been called China\u2019s \u201cnuclear option\u201d[iii]<\/a> against the U.S.A.\u2014an option that involves no military intervention, but that could greatly harm the U.S.A.<\/p>\n

Others have been concerned that Russia will perhaps encourage something like this when the timing is right. European leaders have been working for years to establish a new reserve currency for the world, partially with the intent to remove the U.S. dollar from its position as the world\u2019s primary reserve currency.<\/p>\n

Those in Iran and some of the Arab lands, along with nations such as Brazil and India have discussed plans for the removal of the dominance of the U.S.A. in global trade as well. The former President of Brazil, Lula, even claimed that eliminating the U.S. dollar\u2019s reserve currency status was one of the reasons that the BRICS alliance (Brazil, Russia, India, China, and South Africa) was formed.\u00a0 [iv]<\/a><\/p>\n

The Bible clearly warns against cheapening the money supply and encourages having money hold its value (Proverbs 25:4 Isaiah 1:25, Ezekiel 22:18-22). Yet policies enacted under the Obama and Trump Administrations, following certain other administrations, have ignored these warnings.<\/p>\n

No nation in the history of humankind has ever accumulated as much debt as the United States of America\u00a0(because the U.K. may have close to the highest amount of per capita debt,[v]<\/a> its fate would be similar). Destruction is coming.<\/p>\n

However, the relationship between debt accumulation and prophesied destruction remains unapparent to many. Because there is a time lag, many ignore that there will be real consequences (cf. Ecclesiastes 8:11; Habakkuk 2:3,6-8). Yet, these increases of debt are utterly dangerous.<\/p>\n

When the time comes when the Federal Reserve is no longer able to keep interest rates artificially low, the U.S.A. will continue past the point of no return. That will become one of the final factors that will cause creditors to rise up and destroy the U.S.A.<\/p>\n

The Economy<\/strong><\/p>\n

While pushing biblically immoral ideas is bad for the economy, it should be noted that economies vary. A modern reality is that being the world\u2019s de facto <\/em>reserve currency has helped prolong the U.S.A.\u2019s dominance.<\/p>\n

When the U.S. dollar is no longer the world\u2019s reserve currency, this will hurt the U.S.A. financially. Increasing debt, including \u201cquantitative easing,\u201d is a form of dishonest profits that is not something that God approves of and will punish the U.S.A. for (cf. Ezekiel 22:13-16).<\/p>\n

Inflation will eventually hit the U.S.A. extremely hard. As the world becomes less attached to the American dollar, many financial jobs and opportunities will be in places other than the U.S.A. Eventually, but not yet, the U.S.A. dollar will become worthless (worth no more than the scrap or sentimental value of the cotton-paper it is printed on).<\/p>\n

Will it always be straight downhill for the economy of the U.S.A.?<\/p>\n

No.<\/p>\n

There are some reasons to have some temporary optimism. The longer there is some economic stagnation in parts of the economy that governmental COVID-19 policies contributed to, the more demand tends to build up, and an increase in demand may prolong the economy. In addition, technological and other developments may temporarily support the U.S. economy\u2014as can reductions of regulatory burdens.<\/p>\n

Some policies of the Biden-Harris Administration may help. Others see problems. The Biden-Harris team looks to increase various regulations and impact some industries negatively (such as the fossil fuel industry). Various ones see their proposed policies and cabinet selections as a refreshing change that they hope will fuel economic growth and shared prosperity.<\/p>\n

Notice what was told to a king whose was prophesied to lose his kingdom:<\/p>\n

27<\/sup> Therefore, O king, let my advice be acceptable to you; break off your sins by being righteous, and your iniquities by showing mercy to the poor. Perhaps there may be a lengthening of your prosperity. (cf. Daniel 4:27)<\/p>\n

Repentance can prolong prosperity, but promotion of sin leads to destruction. But, it is not expected that Joe Biden or Kamala Harris will push for scriptural national repentance.<\/p>\n

[i]<\/a> Rickards J. Axis of Gold. The Daily Reckoning, December 20, 2016<\/p>\n

[ii]<\/a> Ibid<\/p>\n

[iii]<\/a> Gertz B,\u00a0 China Debt Threat.\u00a0 Washington Times, March 2, 2011<\/p>\n

[iv]<\/a> Escobar P. BRICS was created as a tool of attack: Lula. Asia Times, August 28, 2019<\/p>\n

[v]<\/a> Conway E.\u00a0 Britain showing signs of heading towards 1930s-style depression, says Bank.\u00a0 Telegraph, March 16, 2009<\/p><\/blockquote>\n

A collapse of US dollar is coming.<\/p>\n

There will be a new totalitarian world order coming (cf. Revelation 13) and it will not be one dominated by the Anglo-Americans.<\/p>\n

If you think that the USA and its dollar will continue to be number 1 and claim to believe the Bible, please consider biblical prophecies such as Daniel 11:39; Habakkuk 2:6-8; Isaiah 10:5-11 (see also USA in Prophecy: The Strongest Fortresses<\/a><\/span> and\/or watch Do these 7 prophesies point to the end of the USA?<\/a>).<\/p>\n

Some items of possibly related interest may include<\/em>:<\/p>\n

The End of US Dollar Dominance<\/a> Is the USA losing its economic status? What about the petro-gold-yuan? A related video is also available: US Dollar being challenged by Gold-Petro-Yuan<\/a>.
\nIs God Calling You?<\/a> This booklet discusses topics including calling, election, and selection. If God is calling you, how will you respond? Here is a link to a related sermon: Could God be Calling You?<\/a> A short animation is also available: Is God Calling You?<\/a>
\nChristian Repentance<\/a> Do you know what repentance is? Is it really necessary for salvation? A related sermon is also available titled: Real Christian Repentance<\/a>.<\/span>
\nUSA in Prophecy: The Strongest Fortresses<\/a> Can you point to scriptures, like Daniel 11:39, that point to the USA in the 21st century? This article does.<\/span> Two related sermon are available: Identifying the USA and its Destruction in Prophecy<\/a> and Do these 7 prophesies point to the end of the USA?<\/a>
\nWho is the King of the West?<\/a> Why is there no Final End-Time King of the West in Bible Prophecy? Is the United States the King of the West? Here is a version in the Spanish language: \u00bfQui\u00e9n es el Rey del Occidente? \u00bfPor qu\u00e9 no hay un Rey del Occidente en la profec\u00eda del tiempo del fin?<\/a> A related sermon is also available: The Bible, the USA, and the King of the West<\/a>.
\nDoes God Have a 6,000 Year Plan? What Year Does the 6,000 Years End?<\/a> Was a 6000 year time allowed for humans to rule followed by a literal thousand year reign of Christ on Earth taught by the early Christians? Does God have 7,000 year plan? What year may the six thousand years of human rule end? When will Jesus return? 2028 or or 2031 or 20xx? There is also a video titled 6000 Years: When will God’s Kingdom Come?<\/a> Here is a link to the article in Spanish: \u00bfTiene Dios un plan de 6,000 a\u00f1os?<\/a>
\nMight the U.S.A. Be Gone by 2028?<\/a> Are there prophetic reasons to believe that the USA will not last two complete presidential terms? Yes. There is a tradition attributed to the Hebrew prophet Elijah that humanity had 6,000 years to live before being replaced by God\u2019s Kingdom. There are scriptures, writings in the Talmud, early Christian teachings that support this. Also, even certain Hindu writings support it.<\/span> Here is a link to a related video: Is the USA prophesied to be destroyed by 2028?<\/a> In Spanish: Seran los Estados Unidos Destruidos en el 2028?<\/a>
\n<\/a>The Great Tribulation: What Happens First?<\/a><\/span> What events have happened? What are some events that are now happening? And what events need to happen for the Great Tribulation to start? Here is a link to a related sermon video: Counting Down to the Great Tribulation<\/a><\/a>. Here is a video in the Spanish language: Contando los eventos y el inicio de la Gran Tribulaci\u00f3n<\/a>.
\nWhen Will the Great Tribulation Begin? 2021, 2022, or 2023?<\/a> Can the Great Tribulation begin today? What happens before the Great Tribulation in the “beginning of sorrows”? What happens in the Great Tribulation and the Day of the Lord? Is this the time of the Gentiles? When is the earliest that the Great Tribulation can begin? What is the Day of the Lord? Who are the 144,000? Here is a version of the article in the Spanish language: \u00bfPuede la Gran Tribulaci\u00f3n comenzar en el 2020 o 2021? \u00bfEs el Tiempo de los Gentiles?<\/a> A related video is: 2021: The Great Tribulation or the Great Reset?<\/a> Here is a video in the Spanish language: Es El 2021 el a\u00f1o\u00a0 de La Gran Tribulaci\u00f3n o el Grande Reseteo Financiero<\/a>.
\nIs a Great Reset Coming?<\/a> Klaus Schwab of the World Economic Forum has proposed a societal change that has been basically endorsed by the Vatican and many world leaders. Does the Bible prophesy a major reset? Here is a link to a related video: Will there be a “Great Reset”?<\/a>
\nBiden-Harris: Prophecies and Destruction<\/a> Can the USA survive two full presidential terms? In what ways are Joe Biden and Kamala Harris apocalyptic? This book has hundreds of prophecies and scriptures to provide details.\u00a0 A Kindle version is also available and you do not need an actual Kindle device to read it. Why? Amazon will allow you to download it to almost any device: Please click HERE to download one of Amazon \u0019s Free<\/strong> Reader Apps<\/a>. After you go to your free Kindle reader app (or if you already have one or a Kindle),\u00a0 you can go to: Biden-Harris: Prophecies and Destruction (Kindle)<\/a> to get the book in seconds.<\/p>\n

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(Unsplash photo) COGwriter Notice the following: Dollar is Going to Collapse \u2013 Peter Schiff Money manager and economist Peter Schiff says all the debt and money printing by the Fed will, ultimately, get down to one thing and that is the U.S. dollar. … In 2021, the consequences of \u201cmoney for nothing\u201d are finally kicking […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-69212","post","type-post","status-publish","format-standard","hentry","category-prophecy"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t