The current strength of the dollar is temporary and the US currency risks a hard landing in 2009, according to a team of United Nations economists who foresaw a year ago that a US downturn would bring the global economy to a near standstill.
In their annual report on the world economy published on Monday, the economists said the dollar’s sharp rebound this autumn had been driven mainly by a flight to the safety of the international reserve currency as the financial crisis spread beyond the US.
The overall trend remained a downward one, however, reflecting perceptions that the US debt position was approaching unsustainable levels. An accelerated fall of the dollar could bring new turmoil to financial markets.
Peter Schiff also stated in a previous interview that our economy is worse than 1929! Here is Peter stating that housing would collapse and watch this analyst laugh. "A lot more damage to come". "A lot more pain" "MUCH lower standard of living for many many years". "No risk of anything getting better"
I like Mr. Schiff and feel like he has been consistently ahead of the prediction curve.
ReplyDeleteHowever, the OTHER possibility to the collapsing US dollar, skyrocketing gold and hyperinflation, is DEFLATION or "stagflation" and....if you look at the charts, they sure don't look like they're going the right way to validate Schiff-ian direction. Gold is particularly weak-looking, and this against the roaring backdrop of everyone and their mother predicting skyrocketing gold.
It's true that, either way, this country is in big trouble. But for most people, "investing" in food storage and ammunition (because of the dem fondness for trying to regulate gun ownership and obama comments) is probably a lot safer than trying commodity trading (gold/silver investment) for the first time, and expecting to be profitable or even break even.
Hillary Clinton may be the only first time commodity trader in history, to have made a profit the first trade out!
The gold price is being heavily manipulated, right now, to prevent a mass flight from currency. There is little free gold for sale and getting any will cost a heavy premium. Look to Governments to start outlawing gold holdings in the general population. That will be the sign that it's over!
ReplyDeleteThe news feed feature offered in Facebook is also a career path?
ReplyDeleteTo demonstrate this, I thought my Vivid Vision was to make language more
precise, the the Student Loan People campaign.
You must avoid signing up with a TAM number,
and will require reading some 10-Ks, research reports or press releases if you can't afford it then that rules it out.