$BNB $ETH $BTC Will the virtual economy collapse?

Economist and gold advocate Peter Schiff warned that restoring the real economy requires the collapse of the "false economy," which would cause many people to suffer significant financial losses, according to PANews. He also stressed that the alternative is worse because it would lead to currency devaluation.Schiff criticized government and Federal Reserve policies, especially after the 2008 financial crisis, and warned that today's debt-driven economic bubble is bigger than ever before. Schiff believes that the current economic situation is more severe, the debt level is higher, and the bubble is bigger, involving more than just residential housing. He said: "We are now in much more debt than in 2008, the bubble is bigger, and we are on the verge of a larger economic crisis, and this crisis may not have rescue measures." For the future, Schiff emphasized that the "false economy" must be collapsed in order to return to a more stable system, and he also admitted that this process will be painful.