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On December 13, 2007, in an interview on the [[Bloomberg TV]] show "Open Exchange," Schiff added that he felt that the crisis would extend to the [[credit card]] lending industry, and he called consumer credit "a cancer on the free-market economy." Schiff said that interest rates would rise, that the dollar would "collapse," and that all classes of dollar-denominated assets would fall in value relative to non-US assets. He predicted "a huge crisis" and "the blow-up of credit card finance" in 2008, with the result that consumer credit card spending limits would be "slashed" by card issuers. He added that Americans would no longer be able to make purchases using their credit card lines. This prediction went unrealized. Referring to the housing market, Schiff went on to criticize the policy of the [[Presidency of George W. Bush|Bush administration]] to "vilify and threaten the lenders" for reckless borrowing.<ref>{{Cite web|url=http://video.google.com/videoplay?docid=-5786330387747098530 |title=Peter Schiff's accurate forecast of credit card market trouble |access-date=May 14, 2012 |url-status=dead |archive-url=https://web.archive.org/web/20110629083542/http://video.google.com/videoplay?docid=-5786330387747098530 |archive-date=June 29, 2011 }}</ref>
In a March 2009 speech, Schiff said that it would be impossible for the [[US public debt]] to China to be repaid unless the US dollar's value is substantially diluted through inflation. In September 2009, with gold below $1,000 per ounce, Schiff said that he foresaw gold at over $
===Taxation===
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