“The dollar index is going to go down to 40, it might even go to 20 — I mean this is going to be in free fall at some point… ultimately there’s going to be a currency crisis.” “What we actually need is less money printing, we need higher interest rates, more savings, more production, more exports and what the Fed is doing is inhibiting that from happening,” “The American economy depends on our ability to print money and trade it for what the rest of the world produces, but as the dollar is falling through the floor, nobody is going to want to trade their stuff for our rapidly depreciating paper,” Peter Schiff told CNBC Asia today
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.
