Good Morning,
PETER SCHIFF WARNS TRUMP’S ‘BIG, BEAUTIFUL BILL’ WILL TRIGGER ECONOMIC COLLAPSE, OBLITERATE THE DOLLAR
Renowned economist and gold advocate Peter Schiff has issued a dire warning about President Donald Trump’s “Big, Beautiful Bill,” calling it a ticking time bomb for the U.S. economy. In a flurry of posts on X (formerly Twitter), Schiff lambasted the legislation as a fiscal disaster that could obliterate the U.S. dollar and trigger a sovereign debt crisis.
“A Fiscal Nuke in Disguise”
Schiff minced no words, labeling the bill as a continuation of the same reckless policies that led to America’s economic decline. He warned that instead of Making America Great Again, the bill could be the “straw that breaks the camel’s back.”
“It may usher in a long-overdue dollar & sovereign debt crisis,” Schiff declared.
No Deficit Cuts, Just More Spending
The bill spans 1,116 pages, yet Schiff points out none of them reduce the deficit. In fact, he says the legislation bloats government spending and masks its true cost through accounting gimmicks.
“Only two House Republicans had the courage to vote against this monstrosity,” he wrote. “It’s a total fraud and a betrayal.”
Tax Cuts or Hidden Tax Hike?
Despite Trump touting the bill as a historic tax cut, Schiff says the real cost of government is total spending, not the tax rate.
“This bill increases spending, so it’s a tax hike, not a tax cut,” he stated, predicting rising inflation and interest rates as the eventual burden on taxpayers.
Medicaid Cuts Won’t Stick
Schiff also took aim at the bill’s alleged cuts to Medicaid, calling them a deceptive talking point. He noted the reductions don’t take effect for five years—if ever—and will likely be rolled back under political pressure.
Supporters Push Back
While Schiff is sounding the alarm, backers of the bill argue it brings clarity to tax policy and aims to resolve structural problems inherited from previous administrations. They see it as a roadmap to economic stability—but Schiff warns that stability can’t come from denial and debt
As the political divide over U.S. fiscal policy deepens, Schiff’s warnings add to growing fears that America’s debt-fueled economy is heading toward a breaking point.
@ Newshounds News™
Source: Bitcoin.com
FYI: This is exactly what we need to bring in the New Gold-backed Quantum Financial System
~~~~~~~~~
CAN BRICS TOPPLE THE US DOLLAR? BRAZIL CENTRAL BANK DIRECTOR SAYS NOT IN THIS DECADE
Despite rising momentum behind BRICS’ de-dollarization agenda, Brazil’s Central Bank Deputy Governor Nilton David has cast serious doubt on the bloc’s ability to dethrone the U.S. dollar anytime soon. Speaking during a recent webcast, David broke down the myths vs. reality of BRICS’ financial influence—and his conclusion was blunt:
“No BRICS Asset Strong Enough to Replace the Dollar”
David, who also serves as Director of Monetary Policy, acknowledged BRICS’ efforts to promote local currencies in trade, but said the alliance lacks a credible alternative to the greenback.
“There are no stronger BRICS-denominated assets or currencies that can replace the U.S. dollar,” he stated, adding,
“I don’t think that will change over the coming decade.”
Bitcoin? Not the Answer Either
When asked if Bitcoin could disrupt the dollar’s dominance, David dismissed it outright.
“It’s a speculative currency by nature,” he said, emphasizing Brazil’s $340 billion in FX reserves are in dollars because the greenback is far more stable than crypto assets.
BRICS Facing Limitations
While BRICS has made headlines for challenging Western financial hegemony, David said the alliance still lacks the depth, liquidity, and trust required to rival the dollar on a global scale.
“The push for local currency trade is real, but it won’t ‘nail the coffin’ on the dollar,” he noted.
He further questioned whether BRICS could ever serve as a true counterweight to the West, citing financial and structural limitations.
Bottom Line: De-dollarization May Be Inevitable—But It Won’t Be Fast
As speculation grows about a BRICS-led global shift, Brazil’s central bank sees no immediate threat to the U.S. dollar’s supremacy. While alternative trading mechanisms may gain ground, a full-scale dethroning of the greenback appears decades away—if at all.
@ Newshounds News™
Source: Watcher.Guru
~~~~~~~~~
Seeds of Wisdom Team RV Currency Facts Youtube and Rumble
Newshound’s News Telegram Room Link
Follow the Roadmap
Follow the Timeline
Seeds of Wisdom Team™ Website
