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Peter Schiff: “Fundamental, technical and sentimental indicators all point to a bleak picture for the U.S. dollar, and by extension America’s bubble economy. Ironically, the dollar’s bear market rally of ’05 only worsened its long-term outlook. Those who helped sow the winds of that rally has better brace themselves for what could be ‘the mother of all whirlwinds’.”
“Americans are not producing, not saving; they are consuming and borrowing. What makes this possible is the artificially inflated value of the our currency. And we are able to trade our currency, pieces of paper that we print, for goods that are manufactured in the rest of the world, predominantly in China and Japan.”
“The falling value of the dollar is going to diminish our standard of living.”
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Peter Schiff is an American investment broker, author, financial commentator, and was a candidate in the 2010 Republican primary for the US Senate.
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Peter Schiff is an American investment broker, author, financial commentator, and was a candidate in the 2010 Republican primary for the US Senate.
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