THE PETER SCHIFF BLOG : An Unofficial Tracking of Peter Schiff and The Libertarian Austrian School of Economics
PETER SCHIFF
Saturday, May 9, 2009
The Collapse of The Dollar By Peter Schiff
The Dollar will collapse the Credit cards bubble is about to burst , buy Gold Buy Silver save your assets ...The dollar will drop like a stone ...Peter Schiff ...
if the value of the $ drops to almost nothing and I owe 100k on my house. would this mean instant equity ? like pay off my 100k loan for $50 pesos or trade 50 gal. of gas ?
Yes, inflation help debtors and hurts creditors. That's one reason the government likes to inflate. I'd like to ask Peter whether this means that it's a good idea to leverage up before the dollar collapse so long as you're positive that you won't lose your job.
I enjoyed the music. I think it makes it more dramatic...
The music is OK, but please make it lower... I couldnt hear Peters voice clearly.
About the Dollar: Please someone clarify me this.. if all the economies in the world have their money backed in US Dollars, if the US Dollar inflates, that means that all the other currencies will fall upon the dollar (as they'll have less dollars). This in turn might put interest rates higher due to hiperinflation.
Anyhow.. Gold has been going up since 2006 (AFAI Can remember), therefore my guess is that since everything is inflating, Gold is actually stay where it is or might fall a bit, whereas Cooper will go up along with the Dow (due, again by Hyperinflation), not because of an Economy recover.
Please someone correct me if my analysis is wrong.
if the value of the $ drops to almost nothing and
ReplyDeleteI owe 100k on my house. would this mean instant equity ? like pay off my 100k loan for $50 pesos or trade 50 gal. of gas ?
Why does this have music ? I really hate things like this, Peters voice is quite enough thanks
ReplyDeleteYes, inflation help debtors and hurts creditors. That's one reason the government likes to inflate. I'd like to ask Peter whether this means that it's a good idea to leverage up before the dollar collapse so long as you're positive that you won't lose your job.
ReplyDeleteI enjoyed the music. I think it makes it more dramatic...
I don't like the hip-hop version of Peter Schiff, sorry.
ReplyDeleteThe music is OK, but please make it lower... I couldnt hear Peters voice clearly.
ReplyDeleteAbout the Dollar:
Please someone clarify me this.. if all the economies in the world have their money backed in US Dollars, if the US Dollar inflates, that means that all the other currencies will fall upon the dollar (as they'll have less dollars).
This in turn might put interest rates higher due to hiperinflation.
Anyhow.. Gold has been going up since 2006 (AFAI Can remember), therefore my guess is that since everything is inflating, Gold is actually stay where it is or might fall a bit, whereas Cooper will go up along with the Dow (due, again by Hyperinflation), not because of an Economy recover.
Please someone correct me if my analysis is wrong.
Thanks