They Just Crashed Gold on Purpose (get ready for 8% mortgage rates)

Economist Peter Schiff warns that the U.S. is heading for either an outright government default or hyperinflation, arguing it's impossible for the nation to repay its rapidly growing debt. He explains that as the 10-year Treasury yield climbs, mortgage rates could soon hit 9%, which would necessitate a 50% drop in housing prices to maintain affordability. This housing market collapse would wipe out homeowner equity, leading to mass defaults even among those with low fixed-rate mortgages.

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