Oil's swift and sudden decline is just the latest Federal Reserve-induced bubble to pop, and if history is any indication, stocks and real estate could soon follow, according to Euro Pacific Capital's Peter Schiff.
"If oil prices are artificially inflated by the Fed, so are stock prices and real estate prices," he told CNBC.com's Futures Now.
Crude has lost almost half its value since its June highs, as a supply glut and a rising dollar have conspired to crush crude. The pain has hit other commodities, as well. Gold, copper and even wheat has lost a respective 13, 13 and 15 percent from their recent highs.
According to Schiff, the brutal price action across the commodity complex is simply the result of the Fed pulling back from its massive stimulus programs. By Schiff's thinking, other assets are soon to follow if the fed continues its course.
"All these bubbles are going to burst because of the same pin, which is the Fed withdrawing stimulus."