The day after he called the surging market “the biggest bubble ever,” the Nasdaq broke the 12,000-point level for the first time ever. In the following days, the Nasdaq had its worst collapse ever with the tech index losing 10 percent of its value. According to Schiff, we could be setting up for another October crash.
“Again, this is the biggest bubble ever and so it’s not going to die easy. And so, it’s certainly possible that the bulls can get this under control with the help of the Fed,” said the Euro Pacific Capital CEO.