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In the wake of the coronavirus pandemic, investors have been searching for new strategies to protect their portfolios. One of the most surprising approaches has come from Peter Schiff, a renowned economist and investor. Schiff has been warning of a looming recession for years, and he believes that the current crisis will lead to a major economic downturn in 2023.
In order to prepare for this eventuality, Schiff has been advocating an unconventional investing strategy. He believes that investors should focus on assets that are resistant to inflation and have the potential to increase in value during a recession. This includes gold, silver, and other precious metals, as well as certain stocks and real estate.
Schiff has also been warning investors to avoid traditional investments such as stocks and bonds, which he believes are likely to suffer during a recession. He believes that investors should focus on assets that are not correlated to the stock market, such as commodities, real estate, and precious metals.
In addition to his investing advice, Schiff has also been advocating for fiscal and monetary policies that he believes will help to protect the economy from the worst of the coming recession. These include cutting taxes, reducing government spending, and increasing the money supply.
It remains to be seen whether Schiff’s predictions and advice will be correct. However, his unconventional approach to investing is certainly worth considering for investors who are looking for ways to protect their portfolios from the coming economic downturn.
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