Predictions for 2024 and the State of the Economy | 4min snip from The Expat Money Show

our way? Well, I mean, we got a category five economic hurricane. The only question is, will it hit before 2024 during 2024 or after? I mean, again, I've been I've been bad at knowing when the crisis was going to come. I mean, even the 2008 crisis, I started predicting it back in 2002, 2003, if you go back and read what I was warning, because I saw the problem the Fed was creating, the minute rates went to what I immediately knew, I just didn't know that it would last until 08 before it hit the fan. And the mistakes that they've made this time dwarf those, and it's taken even longer for the consequences to manifest. In fact, they still haven't fully blown up yet. So it's hard to say, I just wouldn't want to chance it. I mean, I'm just prepared. I'm ready. I know this is coming. To me, whether it comes in 2024 2025, it doesn't really matter. It's going to happen. I do know that the longer it takes, the worse it's going to be. So if it happens in 2025, it's going to be worse than what would have happened in 2024. But people need to be prepared for either a complete collapse of the economy in the financial system or runaway inflation, which of course will lead to a collapse of the economy as well. And one of the reasons that I think that that's the poison that they're going to pick is because the inflationary consequences will be delayed a bit versus just letting everything fall apart. But also, it's easier for the government to blame the inflation on somebody else. I mean, they're good at that. They've been doing that for a long time. It's greedy consumers. It's greedy businessmen. It's Putin. It's OPEC. I mean, they'll even try to blame it on me. I mean, maybe not my name, but you know, you gold speculators. You know, you've been buying gold and, you know, sell a dollars. You know, so who knows, right? They're going to they're going to villainize people and try to scapegoat. They're never going to accept responsibility for creating the inflation. But if they just let banks fail and they don't bail them out, well, then everyone's going to blame them. Well, why didn't you bail us out? You know, where was the government asleep? You know, why didn't you do this? So they don't want to do nothing. They want to do something, even if all they can do is create inflation, because that's really all the politicians do. They don't have any other magic tools. They can't produce consumer goods, right? They don't create any wealth. They can just redistribute it. And if they don't redistribute it through taxation, they redistribute it through inflation. And that's really all they have. I mean, that's all they've ever had. They just paper everything over by creating inflation and people think they've solved the problem. They have it. They've just made the problems worse.

275: Gold, Inflation and the Banking Crisis: The Outlook for 2024 – Peter Schiff

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