Peter Schiff

Because the government benefits from it.

The government steals through inflation.

Inflation is really like a hidden tax.

And the last thing we need is taxes.

We don't need more taxes.

Well, a lot of the problems that the mainstream was overlooking in the years leading up to the 2008 financial crisis, they've been overlooking very similar problems ever since that crisis that were in a bigger bubble in general now than we were then as far as the excess leverage and the inflated prices, asset prices.

I think the housing market is probably in worse shape now than it was before the mortgage crisis.

I think real estate prices are dramatically

overpriced in the US.

Prices should come down, I don't know, maybe 30%, 40% nationwide.

But that would put most people underwater on their mortgages and would result in a wave of defaults and foreclosures and bankruptcies.

And there's a lot of other debt, a lot of other people that own

a long-term low-yielding debt.

I mean, I think interest rates need to go much higher.

You know, they've been artificially suppressed.

So there's a big, big problem to me that's even bigger than what was going unnoticed before 08.

So I think we're headed for a crisis that will be an order of magnitude greater than 08.

But to put things in perspective for crypto and where we are here at this event, I see a lot of similarities there as well as I saw during the dot-com bubble and the housing bubble, where you have people that are trapped in a bubble and don't realize that they are.

And so there's a lot of malinvestment as a result.

You have all these companies.