Peter Schiff: Restoring the real economy requires the collapse of the "false economy."

ChainCatcher news, according to Bitcoin.com, economist and gold advocate Peter Schiff warned that restoring the real economy requires the collapse of the "false economy," which will lead to significant financial losses for many. He also emphasized that the alternatives are worse, as they will lead to currency devaluation. Schiff criticized the policies of the government and the Federal Reserve, especially after the 2008 financial crisis, and warned that today's debt-driven economic bubble is larger than ever before. He pointed out that the government did not learn from the financial crisis, and the Federal Reserve did not acknowledge its role in the crisis, but instead continued to implement measures that led to the crisis.

Schiff believes that the current economic situation is more severe, with higher debt levels and larger bubbles. He stated, "Our current debt far exceeds that of 2008, the bubble is larger, and it involves more than just residential housing; we are on the brink of a larger economic crisis, and this time there may be no rescue measures." Regarding the future, Schiff emphasized that the "false economy" must collapse in order to return to a more stable system, and he acknowledged that this process will be painful.