Thursday, March 19th, 2009...12:10 pm
Is this the beginning of hyperinflation?
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First, if you’ve never heard of Peter Schiff before, watch the clip below to see why you might want to listen to him. It’s a compilation of clips from 2006-2007, during which he predicted the current housing collapse and recession:
Here’s what he says about the Fed’s recent decision to create $1.2 Trillion dollars out of thin air:
Note that a U.N. panel has recently recommended that central banks ditch the dollar as a reserve currency.
And China is expressing concern about the U.S.’s ability to pay its debts.
However, see this perspective on the ways Peter Schiff might be wrong.
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