rant · moment 11 of 15

Peter Schiff, the Next Financial Crisis, and US-China Debt

Audio-only archive episode — no video to seek.

9 min

Tim and Ray have an extended discussion about Peter Schiff's recession predictions, the 2008 financial crisis and bailout mechanics, quantitative easing, the ongoing trade war with China, and a story from the film 'Too Big to Fail' about Russia proposing to China that they jointly dump US treasuries to collapse the American economy.

In this bit10 moments

40:19YouTube comment: 'Peter Schiff has predicted 48 of our last two recessions'
40:39Tim discusses the coming crisis being worse because central banks have no money to bail out the system
41:09Tim pitches an absurd sales pitch built around the inevitable crisis: 'As you well know, we're due for a crisis'
41:48Stock market bubble correlates directly with Fed keeping interest rates at zero and quantitative easing
42:28Current oil financing bubble won't be as bad as the housing bubble but represents fundamental economic fragility
43:48We're borrowing more money this year than ever before while potentially entering a trade war with China
44:55If a massive collapse happens, there's no reserve cash flow and interest rates can't go lower like they did in 2008
45:32Tim questions whether starting a trade war with China while they hold so much US debt is the dumbest thing in the world
46:06During 2008 financial crisis, Russia propositioned China to dump US Treasury bonds together and crash the economy
48:19China is an astronomically rising economy that will be the dominant global force in 10 to 40 years

Mentioned here

Peter Schiff Russia Hank Paulson China Red Eye The Big Short Joe Rogan

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