OANDA senior currency strategist Alfonso Esparza highlights the comments recently made by Peter Schiff on CNBC’s “Trading Nation” and their implications for traders concerned about the timing of the Fed’s next rate hike.

While traders obsess over the timing of the Fed’s next rate hike, Peter Schiff has a simple message for Wall Street: don’t.

On CNBC’s “Trading Nation,” the outspoken investor said the central bank is “bluffing” and instead of waiting for a rate increase, traders should have their sights set on another round of quantitative easing.

“We are addicted to 0% rates,” he said. Schiff says that raising rates would “pop” the stock and real estate bubble that the Federal Reserve has created through its low-rate policies. And that would send the US economy into a catastrophic recession. By his reasoning, the Fed will do anything to prevent stocks from falling. In fact, he sees more stimulus ahead.

“I think they’re going to do another round of quantitative easing,” added Schiff, CEO of Euro Pacific Capital. But according to Schiff, even another round of easy monetary policy won’t be able to stop what he calls an impending crisis.

“When the dollar finally does collapse based on our failure to raise rates and our launching QE4, it’s going to be that kind of inflation and currency crisis that will ultimately force the Fed’s hand,” he said. “That’s when we’re going to be in some real trouble.”

By Alfonso Esparza,Senior Currency Strategist, OANDA