Monday, March 15, 2010

Peter Schiff Warns U.S. Dollar Bulls

Peter Schiff on U.S. Dollar in 2010

Peter Schiff recently stated there is nothing more accurate than dissecting the fundamentals of a government to ascertain the value of its currency, and in the case of the U.S. dollar, that doesn't point to a reason those who are bullish on its strength should continue to be.

Very quickly the seemingly endless bearishness toward the U.S. dollar ended because of the sovereign debt crisis in Greece and the resultant plunge in value of the euro.

Now that it seems to be on relatively solid footing for now, the inherent value of the U.S. dollar should emerge again, and that should continue downward in Schiff's opinion, based on the continuing policies of the U.S. government which undermines its value.

In an extraordinarily short time Schiff notes, the sentiment concerning the fall of the U.S. dollar gravitated toward the euro, something he said, as far as how quickly it happened, he had never seen before in his life.

Schiff believes there will soon be a huge sell-of of the greenback, and once there is more of a surety concerning Europe, there is no reason people would hold onto the U.S. dollar, as it still remains a flawed currency.

Peter Schiff on U.S. Dollar in 2010

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