Wednesday, July 11, 2012

Peter Schiff : The Global Monetary Order is on the verge of reset

Peter Schiff : I mean a collapse of the fiat-based system where the dollar is at the center and other currencies are backed by or pegged to the dollar, and the dollar acts as the primary reserve asset. That system has produced enormous global imbalances that are straining the global economy. Ultimately, I think the whole thing gives way and what returns is what existed prior to the dollar standard, and that is a global gold standard, which is the only thing that really works. - in Goldinvestingnews

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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