Monday, June 15, 2009

After Japan Russia hails the Strong Dollar : Peter Schiff

Peter Schiff Vlog of this Monday June 15 2009 : The DOW was weal all day to day , the market is reacting on part over some comment on the weekend come out of the G8 with regard to the need of ultimately withdraw some of the fiscal and monetary stimulus , and obviously that's huge understatement , also today we had a strong rally of the dollar which means weakness in commodities and gold , we also saw a rally on the bond market , and I think a lot of this dollar and bond strength was arranged based on talks coming out of elected officials over the weekend , basically the finance minister of Russia came out and said that he has complete faith in the strenght of the dollar the same way the Japanese minister said just a day or so before him ...this must have been staged , the fact that you have these officials talking up the "strength of the dollar" shows how much the dollar is really weak , nobody is talking about the Euro or the Yen...Peter Schiff then ends up by talking about Obama's Health care and the too Big to fail notion that ois against the free market laws and sets a Dangerous Precedent
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