PETER SCHIFF

PETER SCHIFF

Saturday, September 21, 2013

There is going to be Currency Crisis; a Sovereign Debt Crisis that will dwarf what was going on in Europe

IU.com: So you’re saying the Fed’s not going to wind down the QE or the zero-interest-rate policy, and that the end’s not in sight? 

Peter Schiff: They’re not going to wind it down. The market is going to wind it down for them. The Fed is not going to voluntarily taper. It’s going to keep on expanding the balance sheet at an ever-increasing pace until the market puts an end to this party. So, eventually the bottom will drop out of the bond market and out of the dollar, there’s going to be currency crisis; a sovereign debt crisis that will dwarf what was going on in Europe.
And then, when it’s a real catastrophe, the Fed will be forced to tighten. And it’s going to be much more violent then they’re anticipating; it’s not going to be a gradual tapping on the brake. They’re going to have to slam on the brake and push the pedal through the floor. - in IndexUniverse



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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