Will China Pull a “Switzerland” on the US Dollar? (Video)
JANUARY 17, 2015 BY MIKE FINGER
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In his first Schiff Report video of the year, Peter Schiff explains the Swiss news that rattled the foreign exchange markets this week. Peter had predicted that Switzerland would eventually be forced to drop its euro peg, just as he’s been warning that countries like China will be forced to abandon their ties to a weakening US dollar. If investors don’t want to experience even worse losses than Europeans were hit with this week, they need to start preparing for a dollar crisis. Gold has performed very well this year, even while the US dollar and stock market moved higher, which Peter sees as an indicator that a new bull trend has started in precious metals.
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Poor people in China subsidizes the American dollar.
Clearly, this is going to mean more inflation.
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