Black Monday is more likely to occur in the Currency and/or Bond Markets

Peter Schiff : “When America's creditors wake up, particularly those foreign governments now shouldering the lion's share of the burden [financing U.S. debt], concerns over our twin deficits will return with a vengeance,” Schiff says. “Black Monday is more likely to occur in the currency and/or bond markets, with safe-haven flows moving into gold, not Treasurys.” Read more: Peter Schiff: Economic Conditions Worse Now than on Black Monday

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.