Schiff Predicts Financial Collapse, Says Banks Will Fail Amidst Recession Concerns

Economist Peter Schiff has intensified concerns about a potential economic collapse by predicting that American banks will fail amidst rising recession fears. His warnings stem from recent bank failures and his belief that the U.S. is headed for a more severe downturn than the Great Depression. Schiff argues that the current banking system is vulnerable due to factors like risky investments fueled by low-rate policies, decreased public trust in traditional financial institutions, and insufficient regulatory support.