Economist Peter Schiff has issued a stark warning to global investors, declaring that the escalating $40 trillion U.S. national debt has become completely unsustainable and will ultimately cause the entire American financial system to “implode.”
A System On Thin Ice
According to Schiff, Washington and the Federal Reserve are trapped in a dangerous fiscal loop where they actively choose inflation over spending cuts to delay a broader economic collapse.
“The economy is also a house of cards, and I think the Treasury basically operates a giant Ponzi,” Schiff stated bluntly during a recent financial podcast with commentator Mario Nawfal.
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