{"id":416901,"date":"2020-03-04T16:00:26","date_gmt":"2020-03-04T16:00:26","guid":{"rendered":"https:\/\/ktsl888.com\/?p=416901"},"modified":"2020-03-04T14:13:55","modified_gmt":"2020-03-04T14:13:55","slug":"bitcoin-gold-stock-market-bubble-popping","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/bitcoin-gold-stock-market-bubble-popping\/","title":{"rendered":"Move Over Bitcoin: Pro-Gold Peter Schiff Blasts the Stock Market Bubble"},"content":{"rendered":"

You may know Peter Schiff as the anti-Bitcoin<\/a>, pro-gold advocate who takes every chance he gets to slander the emerging asset class, but did you know, he also famously predicted the housing market collapse that caused the Great Recession and the last major stock market selloff?<\/span><\/p>\n

And he\u2019s now predicting an economic crisis \u201cmuch worse\u201d than the last one, following the bursting of what he calls a massive stock market \u201cbubble.\u201d<\/span><\/p>\n

Peter Schiff Claims the Stock Market Bubble Is Popping<\/h2>\n

If you\u2019ve been following the gold promoter\u2019s antics over the last couple of years, Peter Schiff has taken ever swing imaginable at Bitcoin<\/a> and cryptocurrencies.<\/span><\/p>\n

The fact that Bitcoin has been rising alongside the precious metal he so loves<\/a> has long been a thorn in his side.<\/span><\/p>\n

But as much as he dislikes cryptocurrencies and favors gold, it is his comments about the stock market that have him making headlines once again.<\/span><\/p>\n

Related Reading | Stock Market, Bitcoin, and Gold: Everything Is Collapsing Together<\/a><\/strong><\/em><\/p>\n

Peter Schiff wasn\u2019t always just notorious for his attacks on Bitcoin, but his status as a market analyst was solidified after nailing a prediction<\/a> that the economy would soon experience a collapse of historic proportions as a result of a failing housing market.<\/span><\/p>\n

Now, Schiff is claiming that the last recession will be nothing compared to what is about to unfold across the globe.<\/span><\/p>\n

It may be the coronavirus pandemic that caused the initial prick, but Schiff claims the stock market is in a massive bubble that is starting to burst.<\/span><\/p>\n

\u201cThe problem isn\u2019t the pin, the problem\u00a0is the bubble\u00a0and once the bubble is pricked, the damage is done and the air is coming out of this bubble,\u201d Schiff explained to MarketWatch<\/a>, adding \u201cif it wasn\u2019t the coronavirus, it would have been something else.\u201d<\/span><\/p>\n

Last week, the stock market suffered its largest one week drop since the last recession, wiping out over $6 trillion in value.<\/span><\/p>\n

The Fed responded with an emergency 50 basis points rate cut<\/a>, but it ultimately failed to restore confidence in investors and caused major stock indexes to tank further.<\/span><\/p>\n

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As far as the stock market is concerned it doesn't matter what happens to the Coronavirus. Once the bubble is pricked, it doesn't matter what happens to the pin. The Fed can't take back the rate cuts without collapsing the stock market. Its cure is worse than the disease!<\/p>\n

— Peter Schiff (@PeterSchiff) March 3, 2020<\/a><\/p><\/blockquote>\n