China, Dump the Dollar and Buy Gold! Peter Schiff’s Wild Plan

by

Peter Schiff, the economist who’s basically the Chicken Little of finance, has a new idea for China: crash the dollar, buy gold, and watch the chaos unfold. 🚨💰

Schiff’s Master Plan: Let’s Make America Poor Again

Peter Schiff, the guy who probably has a “The End is Near” sign in his backyard, is urging China to dump its U.S. Treasuries and dollars. Why? So they can buy gold and back a revalued yuan. Because, you know, nothing says “economic stability” like crashing the dollar and sending U.S. interest rates into the stratosphere. 📈💥

In a post on X (formerly Twitter, RIP), Schiff, who’s been side-eyeing Trump’s economic policies harder than a cat watching a laser pointer, claimed this would be a win for Chinese consumers. Because, sure, nothing enriches people like a global financial meltdown. 🐱‍💻

“Chinese consumers will instantly be enriched,” Schiff said, as if he’s pitching a late-night infomercial. “They’ll be able to afford all the goods China ships to the U.S., plus our used cars that Americans can’t afford to drive anymore. It’s like a garage sale, but for an entire country!” 🚗💸

Schiff’s grand finale? If China follows his advice, Americans will face massive inflation and a collapse in living standards. Because who doesn’t love a good old-fashioned economic apocalypse? 🍿🔥

This all comes amid a trade war that’s more dramatic than a reality TV show. Trump slapped tariffs on over 180 countries, and China responded with a 34% tariff on U.S. goods. Because nothing says “diplomacy” like a tariff slap fight. 🥊🌍

Meanwhile, Trump’s trade adviser Peter Navarro called the global stock market decline “a beautiful situation.” Sure, Peter, because nothing says “beautiful” like economic uncertainty and panic-selling. 🌈📉

Schiff, of course, isn’t buying it. He insists that a VAT isn’t the same as a tariff, because apparently, we needed a lesson in Econ 101. Meanwhile, Trump backers like billionaire Bill Ackman are warning of a “self-induced economic nuclear winter.” Because, you know, winter is coming. ❄️💣

Read More

2025-04-07 19:57