Not Russia, Not China — The Biggest Threat To US Is Its Own Federal Government And Federal Reserve, Says Peter Schiff

Political commentator and stock broker Peter Schiff opined that the most significant threats to the United States are not external forces like Russia or China, but rather its own Federal Government and the Federal Reserve.

What Happened: In a recent tweet, Schiff expressed his concerns, stating, “The greatest threat to America is not foreign, but domestic. It’s not Russia or China. It’s our own Federal Government and Federal Reserve. They represent a far greater threat to our individual liberty, prosperity, posterity, and Constitution.”

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Why It Matters: Schiff’s statement reflects his longstanding concerns about the Federal Government’s fiscal policies and the Federal Reserve’s monetary strategies.

In May 2023, Schiff warned of the potential for either a debt default or massive inflation due to the ongoing debt ceiling crisis. He emphasized that the U.S. had borrowed more than it could repay.

Furthermore, in February 2023, Schiff criticized the Federal Reserve’s actions, suggesting that while the Fed might not be winning, the general populace was certainly losing, particularly in the face of rising inflation and interest rates.

Notably, Schiff’s comments come ahead of Fed Chair Jerome Powell’s much-anticipated speech at Jackson Hole.

Earlier, renowned economist Claudia Sahm said that Powel would “strive to be as boring as humanly possible” at the symposium, which is expected to focus on the "Structural Shifts in the Global Economy."

Photo Courtesy: Wikimedia Commons

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