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Peter Schiff: Current conflicts are accelerating day of reckoning for the dollar

On Aug. 13, well known financier and money manager Peter Schiff was a guest on the USA Watchdog web program. During his 17 minute interview with Greg Hunter, Schiff focused on the ongoing conflicts and financial attacks being made against nations and banks by the U.S., and that these attacks are all a part of the systematic financial 'Cold War' that is occurring between the West and the East for the survival of the current global monetary system by one side, and the eventual evolution towards a de-dollarized future by the other.

Peter Schiff
Courtesy of Euro Pacific Capital

Citing the ongoing conflicts taking place in Iraq, Gaza, and Ukraine, along with the introduction of FACTA, capital controls, and the recent fines assessed against the French bank BNP Paribas, Schiff concludes that not only are nations and governments resenting U.S. actions, but these actions are helping to accelerate the end of dollar hegemony and the use of the dollar as an economic weapon on countries that don't follow lockstep with U.S. policies.

Peter Schiff: I think that all that is going on in Iraq, what's going on in Russia, Israel, and what's going on financially with the American government harassing foreign banks. Fining foreign banks. Enforcing FACTA and making all sorts of financial institutions outside the United States beholden to the United States... doing all this work, spending all this money to enforce our tax laws abroad.

I think we're pissing off alot of people that really we need to be sucking up to, and it's all accelerating this day of reckoning that I have been preparing for anyway. - Peter Schiff, USA Watchdog

Peter Schiff has had a very strong track record of prognosticating future trends, and was one of a handful of economists who foresaw the bursting of the Housing Bubble, and subsequent credit crisis of 2007-08. And since that time, and the formulation of Fed Quantitative Easing (QE) policies and vast money printing, Schiff has been vocal in expressing the inevitable conclusion these policies will engender, and that the result will be a monetary and economic crash that the world has never seen of this scope and magnitude in its history.

There is an old adage that says every war in modern times is a banker war, and that at the root foundation of any military, economic, financial, or trade war is the belief that at its core, one side is vying for some form of control over a financial asset such as oil, gold, or money, or control over the financial system of a given nation. And as we have seen recently in Ukraine, where Vice-President Joe Biden's son was appointed as a Vice-President to Ukraine's largest energy company to facilitate the fracking of the nation's energy resources shortly after a foreign led coup overthrew the duly elected President of Ukraine, it is not out of the realm at all to believe that nearly every hot or cold war that has taken place over the last few centuries has included some form of central bank involvement.

As the Russian led BRICS nations accelerate their plans to create an alternative to the IMF, World Bank, and dollar based financial system, the United States will not sit idly by and allow their decades long control over the finances of the world be taken away from them without a fight. However, as Peter Schiff notes in his interview, the more and more military and economic pressures that the U.S. places upon other nations to force them to live under policies derived from Washington, the faster the world will move towards a de-Americanized future, and one where the dollar is no longer accepted as the global reserve currency.

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