Sunday, November 23, 2008

The Future Of The Dollar Not So Bright

The man who has been more right about predicting the current state of the economy than anybody else, Peter Schiff, talks about the dollar:



His reasoning for the recent dollar rally:
"It's temporary. It's a result of this massive deleveraging. It's all these U.S. institutions that are having to sell everything they own to settle their margin debt, to pay their bills... When this dollar stops rallying, it's going to fall like a stone."
Ugh.

1 comment:

ding said...

Peter Schiff has been right on for about 2 years regarding the economy - long before any of the other "experts" knew what was going on. He was right on when he said we have to get back to producing things. Thanks for the video - there are quite a few on YouTube with him predicting this recession and the falling dollar.