Peter Schiff commented on the growing unease about the dollar since the U.S. has stumbled into a horrible economic status.
The United States is struggling to regain stability on what is being called the worst recession in decades.
The entire world has their eyes on the U.S. economy as the value of the dollar may fall even lower.
Peter Schiff, president of the Euro Pacific Capital brokerage, was one financial analyst to declare the dollar to be weak and falling in value.
“I think the dollar will continue to drop,” Schiff said in an interview. “Based on what we’ve done, it could lose 70 to 80 percent of its value over the next five to 10 years.
“The dollar is no longer as good as gold. It’s no longer better than any other currency.”
There are other points of views by other analysts. Other analysts state that the dollar will continue to be the best of the major currencies.
Economist Ed Yardeni of Yardeni Research Inc. said “Despite all of our flaws and faults and economic and financial woes, the dollar still looks as though it should remain a strong currency relative to the euro, the yen, the British pound and other currencies.”
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