Peter Schiff, CEO of Euro Pacific Capital, is warning that the markets won’t be able to handle a Federal Reserve rate hike.

“Since we have had the monetary wind at our back for so many years, at least a few have begun to question our ability to make economic and financial gains against actual headwinds. But in reality, the tightening cycle that the forecasters are waiting for actually started last year,” he wrote. “Sadly, the markets and the economy are already showing an inability to handle it,” he wrote.

“Nevertheless, most people assume that rates are on the way up to 2% or more. But from my perspective it's much more likely that the rates never get close to that level. I would argue that any positive rate of interest would be enough to stop this economy cold. Years of negative rates have so corrupted our economy that I believe it is now fully addicted and cannot survive under any other condition,” he wrote.

“Since this historically weak recovery is already decelerating, one might expect the removal of stimulus could cause the next recession to start quicker and be far deeper than any experienced in the past. Since the Fed may recognize this, the next easing cycle could likely start much sooner, and the accompanying monetary stimulus be much larger than just about anyone believes,” he wrote.

Schiff isn't alone in warning that a Fed rate hike can only hurt the nation.

Donald Trump warns that “a lot of bad things can happen,” such as a recession, when the nation’s central bank finally hikes interest rates, which he alleges have been kept low for so long for political reasons.

The Federal Reserve already should have raised interest rates from the very low levels set during the Great Recession, and he suspects Fed Chair Janet Yellen has delayed doing it for political reasons, USA Today reported.

"When you raise interest rates, I think a lot of bad things can happen, in terms of recession, everything else," he told the newspaper, suggesting she wants to wait until the next president is poised to take over.

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