Thursday, March 29, 2012

Peter Schiff on The BRICS dumping the US Dollar in their intra trade

Peter Schiff : I think the biggest common problem for the BRICS nations is how to deal with the United States and more specifically the US Dollar , all these BRICS countries are accumulating enormous dollar reserves , the dollar is going to lose a lot of value and so that means these BRICS nations are going to lose a lot in the real value of these reserves , alot of these BRICS nations are running trade surpluses with the United States but of course the United States is not in the position to actually pay for these products .....

Peter Schiff is a well-known commentator appearing regularly on CNBC, TechTicker and FoxNews. He is often referred to as "Doctor Doom" because of his bearish outlook on the economy and the U.S. Dollar in particular. Peter was one of the first from within the professional investment field to call the housing market a bubble. Peter has written a book called "Crash Proof" and a follow-on called "The Little Book of Bull Moves in Bear Markets". He is the President of EuroPacific Capital, which is a brokerage specializing in finding dividend-yielding, value-based foreign stocks.

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