Friday, January 3, 2014

I am not bearish on Stocks, I am bearish on the U.S. Dollar

I am not bearish on stocks, I am bearish on the U.S. dollar, I am bearish on paper. People just assume that I am all gloom and doom, so that I think the stock market is going down. If the Federal Reserve did the right thing for the U.S. economy and let interest rates go up, the stock market would come crashing down. But I do not believe the Federal Reserve is going to do the right thing. They will keep doing the wrong thing. This bubble is too big to pop, the Federal Reserve knows it, so they are going to keep on supplying air. So, yes. Stocks are going to go up, but the dollar is going to down a lot more in real terms. And yes, gold is going to go up.

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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