Peter Schiff Says World Heading Toward Debt Crisis, Warns US Situation 'Particularly' Problematic: 'Currencies Are Going to Be Debased'

Economist Peter Schiff warns of an impending global debt crisis, particularly affecting the U.S., where national debt has exceeded $40.29 trillion and the fiscal year 2026 budget deficit has reached $1.97 trillion. He predicts that the federal government may default on its obligations, leading to higher yields on long-dated Treasuries, potentially reaching 8%. Schiff also anticipates that central banks will be pressured to print money, resulting in the debasement of currencies, including the U.S. dollar.