Peter Schiff, President of Euro Pacific Capital, predicts that the US economy will weaken towards the end of the year and that the Federal Reserve will resort to Quantitative Easing 3. Eventually, in 2013, 2014, or 2015, we will see the economy collapse again, much like in 2008, but worse this time, and much worse for Europe. The dollar will tank while consumer prices shoot up, and the government will be forced to lay off workers and cut wages. The government will also default on treasury bonds and not pay back 100% of their value.
Schiff says we have two likely scenarios: implosion or hyperinflation. Buy gold and silver? Anyone prepping?