Schiff is right. If Fed Res bankers liquidate their balance sheet of US Treasuries and mortgage-backed securities at the rate of $95 billion a year, which will take eight years to sell off into secondary markets. When they do this in the face of also raising the Fed Funds rate, which will jack up the Prime rate and knock higher still other lending rates, the tide will come out of the fake economy. Americans will discover how much poorer they are.
Prices of commodities will go through the roof. Imports either will fall as suppliers go out of business or prices of imports will rise much higher for firms exporting into the USA to at least break even.
See my recent works which reveal the dollar inflation, which has become apparent thus far as well as the long running economic depression under which everyone has been living.
- What Has Caused the 2021-2022 Inflation in the USA? A Shocking $8.5 trillion of US Treasuries and Mortgage-Backed Securities on the Federal Reserve Balance Sheet. Will Quantitative Tightening Ever Happen?
- Booming Biden Economy? Oh Really? Likely the USA Has Remained in Economic Depression Since 2008.