Transcript of a video from Peter Schiff dated 3-31-2016

    When the US dollar collapses

The dollar collapse will be the single largest event in human history. This will be the first event that will touch every single living person in the world. All human activity is controlled by money: our wealth, our work, our food, our government, even our relationships are affected by money. No money in human history has had as much reach, in both breadth and depth, as the dollar; it is the de-facto world currency. All other currency collapses will pale in comparison to this big one. All other currency crises have been regional, and there have always been other currencies for people to grasp onto. This collapse will be global, and it will bring down not only the dollar, but all their fiat currencies, as they are fundamentally no different. The collapse of currencies will lead to the collapse of all paper assets. The repercussions to this will have incredible results worldwide. The dollar is the world's reserve currency; it supports the global economy in setting foreign trade, most importantly, the Petrodollar trade. This fuels our corporate vampires that acquires and harvests the wealth of the world. The corporate powers suppressed real assets, like natural resources and labor, to provide themselves massive profits. The fascist statist-collectivist model provides the money into the economy to fund an ever-increasing federal government. That government then grows larger and larger enriching its minions with jobs to control their fellow citizens. Finally, to come full circle, the government then controls other nations through the military industrial complex. This cycle will be cut when the mathematically and inevitable collapse of the dollar occurs. In order for our debt-based money to function, we must increase the debt every year in excess of the debt and interest accrued the year before, or we will enter a deflationary spiral. When debt is created, money is created. When the debt is paid off. money is destroyed. There is never enough to pay off the debt because there would be not one dollar in existence. We are at a point where we are to default on the debt willingly, or unwillingly, or create more money, or debt, to keep the cycle moving. The problem is, if you understand anything about compounding interest, we are reaching the "hockey stick" moment where, the more debt that is incurred, the less effective it is, and this leads ua to hyper-inflation. There are only two actors needed for this hyperinflation: the lender and last resort --who are the Fed; and the spender of last resort --the Government. These two can and will blow up the system. I believe they will wait until the next crises and the whiff of deflationary depression, before they fire up the printing presses; that crisis is coming very soon at the end of the summer or fall. The money and emergency measures are worn out. The fact that none of the underlying problems that caused the 2008 crisis has been resolved. The only thing that has happened, is that instead of corporate problems, we now have national problems. In this movie, Greece will play a role of Lehman Brothers, and the United States will play the role play AIG. The problem is, there is nowhere to kick the can down the road, and there is no world government to absorb the debt, yet. So this leads me to the top five places not to be when the dollar collapses.

• #1. Israel: This Anglo-American beachhead in the Middle East was first conceived by the most powerful family and the world, the Rothschilds, in 1917. The Balfour Declaration said that there will be a Zionist Israel years before WWII, and the eventual establishment of Israel. Israel has not been a very good neighbor to its Muslim nations, and has always had the two biggest bullies on the block at its back. When the the dollar collapses, the United States will have much too much on its plate, both domestically and internationally, to worry about such a non-strategic piece of land. This will leave Israel very weak at a time when tensions will be high. This very thin strip of desert-land will not be able to withstand the economic reality of importing its food and fuel, or the political reality of being surrounded by Muslims. 

• #2. Southern California: The land of fruits and nuts turns into "Battlefield Los Angeles". 20 million people packed into an area that has no water, (and thus no food), is not good, to say the least. Throw on top, the huge wealth disparities, and its proximity to a "Narco State", and this does not bode well. We have seen riots from Rodney King; what will happen when the dollar is destroyed and food and fuel stop coming into this area? People will get desperate and do crazy things, especially when a huge proportion of its citizens are on anti-depressants. If food and fuel cannot get in, what about prozac? At a time when people's worlds are falling apart, they will lack the ability to deal with this new paradigm. If people come off these drugs too fast, they will suffer psychotic breaks, and they will have thousands of shootings and suicides.

• #3. England: The land of "Big Brother", and former "Empire for worldwide slave and drug trade", will suffer heavily. This "stiff upper lip" that their British Elite  have ingrained into the "Sheeple", will not work any more as the British population explodes. The human character will sacrifice and unite for a foreign enemy, but not if the enemy has always been the Elite. This Anglo-American Empire may pull off another false flag to distracted its population, but I feel this collapse what happened before they pull it off. This will make all eyes point at the British Elite as solely responsible for this catastrophe. We have seen massive riots for soccer matches with hooligans; so what will happen when this island with very little food and fuel gets cut off?

• #4. New York City: Another large urban area living too high on the "dollar hog". There is little doubt that all the wealth in New York City, New Jersey, and Connecticut, is derived off of the Wall Street wealth. The savings and investments of the whole nation, and much of the world, flows through this Financial Capital. As the world wakes up to the massive financial fraud, this will lead to the destruction of capital like we have never seen before. This will have tremendous effects on the regional economy, as people driving their Mercedes will suddenly wonder where their next meal is coming from.

• #5. Washington DC: The political collapse of the Federal Government will wreak havoc on the hugely inflated local economy, as more and more states find it necessary to assert their natural control, the Federal Government will suddenly lose power and importance, as the whole world suffers from a "Global Hurricane Katrina". The money that they create and spend will become worthless, and the government minions pensions will evaporate. Millions that once relied on the ability to force others to send their money to them, will learn that the real power has always been at the most local level. Massive decentralization will be the answer to "globalization gone mad". 

Local families and communities will forgo spending money and power out of their community, as they care about their next meal and keeping warm.  As author Ayn Rand once said, "You can ignore reality, but you cannot ignore the consequences of ignoring reality." To sum up those areas that have lived highest on the hog and the dollar paradigm, will most likely be the worst places to live when the dollar collapses. 

Many of you will hear these words with a passing interest, but rest assured, this dollar collapse IS coming --it is a mathematical inevitability. We will not be as fortunate to muddle through this collapse like we did in 2008, when it was a "Corporate" problem. This time around, it will be a national and global problem. The global Ponzi scheme will have run out of gas. As the demographics decline, as cheap abundant oil declines, as hegemonic power declines, this comes at a time when we reach the exponential, or collapse phase, of our money. The irresistible force paradox says, "What happens when an unstoppable force meets an immovable object"; we are about to find out, when "infinite" money hits a very "finite world.

You Tube Video - https://www.youtube.com/watch?v=6qwV7VUFwrE