Gold Shines as the Dollar Falters
On his latest appearance on “Capital Cosm,” Peter shares his perspective on the mounting pressures facing the U.S. economy, especially as America’s debt situation grows more dire. He unpacks the consequences of persistent trade deficits, the shifting global appetite for U.S. financial assets, and the implications for the U.S. dollar’s reserve status.
Peter opens with a dose of humility, addressing critics who suggest he’s eager to celebrate a long-awaited crisis. Instead, he explains, the stakes are far too serious for celebration:
Well, I don’t want to necessarily describe it as a Super Bowl in that the Super Bowl is a fun thing, a celebration. It’s not really that I want to celebrate the fact that I think we’re going to have an economic crisis. I mean, it’s something that I’ve been predicting for a long time, and it hasn’t even totally happened yet. So it’s even premature to really say I told you so. But I’m not necessarily going to celebrate the fact that I was right. … In a way I want to be wrong.
While the crisis Peter has forecast isn’t in full swing, he argues that the warning signs are undeniable. Federal Reserve Chair Jerome Powell’s recent comments on debt sustainability draw skepticism from Peter, who points out the faulty logic behind official reassurances:
It’s not happening yet, but I think that we’ve set into motion the forces th
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LewRockwell.com is a libertarian website that publishes articles, essays, and blog posts advocating for minimal government, free markets, and individual liberty. The site was founded by Lew Rockwell, an American libertarian political commentator, activist, and former congressional staffer. The website often features content that is critical of mainstream politics, state intervention, and foreign policy, among other topics. It is a platform frequently used to disseminate Austrian economics, a school of economic thought that is popular among some libertarians.
