Peter Schiff predicts ‘inflationary collapse’ and end of the ‘dollar standard’

What was said

"And we now stand on the precipice of an inflationary collapse that will make the stagflation of the 1970s look like the Roaring '20s by comparison. It was 55 years ago today that the US went off the gold standard, but soon the world will go off the dollar standard, and for Americans, the economic and financial consequences will be even more devastating."

Podcast host and gold investor Peter Schiff argues that the US is nearing an “inflationary collapse”, comparing what he expects next to the 1970s stagflation era and warning of a sharper downturn. Marking the 55th anniversary of President Richard Nixon ending foreign governments’ ability to redeem dollars for gold, Schiff claims the world is approaching a shift away from reliance on the US dollar as the reserve currency.