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It would be ironic to cite cryptocurrency’s biggest critic, but Peter Schiff, the economist who predicted the 2008 financial collapse, points out that the United States is massively in-debt, but yet produces nothing of value to foreigners. And that this trade deficit must weigh on the dollar. [8] Petrodollar As best-selling American author John Perkins points out, only through violence in the Middle East, has the US managed to force the sale of oil in US Dollars.