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Impending U.S. Dollar Collapse Should Be Getting Attention, Not China’s Devaluation, Financial Analyst

 
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08/15/2015 03:43 PM
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Impending U.S. Dollar Collapse Should Be Getting Attention, Not China’s Devaluation, Financial Analyst
Impending U.S. Dollar Collapse Should Be Getting Attention, Not China’s Devaluation, Financial Analyst

By Andrew Moran
Global Research, August 15, 2015

Peter Schiff, CEO of Euro Pacific Capital and bestselling author of “Crash Proof,” believes the impending collapse of the United States dollar should be getting the attention of investors and news outlets and not the devaluation of the Chinese yuan.

Speaking in an interview with Newsmax TV on Tuesday, Schiff explained that the U.S. economy has an abundance of problems but China’s monetary policy (SEE: Donald Trump on China’s Devaluation: ‘They’re just destroying us’) isn’t one of them.

The contrarian investor stated that China’s economy isn’t experiencing a freefall and the current devaluation is minuscule. He noted that the yuan’s value has substantially increased over the past several years compared to the U.S. dollar.

“So this move was motivated not by the exchange rate between the yuan and the dollar, but between the yuan and all the other currencies because the dollars is in a bubble right now,” he said. “The dollar is very overvalued … and the dollar is a bubble. This dollar bubble is going to burst.”

He added that the U.S. economy is in a much worse situation right now than the Chinese. This is something, Schiff says, the Federal Reserve will have to admit. He also averred that the Fed won’t raise interest rates this year (SEE: Federal Reserve rate hike could cost indebted consumers $9 billion per year) and will have to do another round of quantitative easing.

“That’s going to sink the dollar and then the Chinese are going to have to revalue their currency much higher in the future against the dollar and it’s the dollar collapsing that’s going to hurt the US. Not this recent move by China,” Schiff posited.

Read more here:
[link to economiccollapsenews.com]
Sir_Kayle

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08/15/2015 03:46 PM
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Re: Impending U.S. Dollar Collapse Should Be Getting Attention, Not China’s Devaluation, Financial Analyst
spock
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08/15/2015 03:59 PM
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Re: Impending U.S. Dollar Collapse Should Be Getting Attention, Not China’s Devaluation, Financial Analyst
there has been an impending dollar collapse for decades now
Anonymous Coward
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08/15/2015 04:08 PM
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Re: Impending U.S. Dollar Collapse Should Be Getting Attention, Not China’s Devaluation, Financial Analyst
Do the research, In September it all comes down.. Planned that way.. just watch,
Anonymous Coward
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08/15/2015 04:12 PM
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Re: Impending U.S. Dollar Collapse Should Be Getting Attention, Not China’s Devaluation, Financial Analyst
Of course it should. That way ppl don't make the connection China got its shit blown up for devaluing their currency lol.
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08/15/2015 04:34 PM
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Re: Impending U.S. Dollar Collapse Should Be Getting Attention, Not China’s Devaluation, Financial Analyst
I have been hearing about an impending U.S. Dollar collapse for years.

Not gonna happen. Too many greenbacks in the hands of too many people and nations.

I call....

bsflag
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08/15/2015 04:41 PM
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Re: Impending U.S. Dollar Collapse Should Be Getting Attention, Not China’s Devaluation, Financial Analyst
The PROBLEM with all of those calling for US Dollar collapse is that for such a collapse to occur the people have to have ANOTHER CURRENCY to put their money into

(there is NOT enough Gold and Silver to store anything but an extremely small percentage of the world's accumulated wealth)

WHAT currency are people going to go to when they "FLEE" the Dollar?

*The Euro ... which is about to blow apart at the seams?
*The Yuan ... which is almost non-existent outside of China and hard to convert into anything physical?
*The Yen ... Japan's debt ratio is twice what the US's is?
*The Rubble ... Russia's currency in hard to convert into anything physical also?

I have it ... people will flee the US Dollar and go into the Zimbabwe Dollar!! Now that is a currency that has been "stable" over time!! And not only that but they can turn on their printing presses such that they could EASILY give everybody TWO Zimbabwe Dollars for every US Dollar!!
Anonymous Coward
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08/15/2015 07:22 PM
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Re: Impending U.S. Dollar Collapse Should Be Getting Attention, Not China’s Devaluation, Financial Analyst
The PROBLEM with all of those calling for US Dollar collapse is that for such a collapse to occur the people have to have ANOTHER CURRENCY to put their money into

(there is NOT enough Gold and Silver to store anything but an extremely small percentage of the world's accumulated wealth)

WHAT currency are people going to go to when they "FLEE" the Dollar?

*The Euro ... which is about to blow apart at the seams?
*The Yuan ... which is almost non-existent outside of China and hard to convert into anything physical?
*The Yen ... Japan's debt ratio is twice what the US's is?
*The Rubble ... Russia's currency in hard to convert into anything physical also?

I have it ... people will flee the US Dollar and go into the Zimbabwe Dollar!! Now that is a currency that has been "stable" over time!! And not only that but they can turn on their printing presses such that they could EASILY give everybody TWO Zimbabwe Dollars for every US Dollar!!
 Quoting: Anonymous Coward 20589235


China is converting to "The Rubble". cruise
Anonymous Coward
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08/15/2015 07:48 PM
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Re: Impending U.S. Dollar Collapse Should Be Getting Attention, Not China’s Devaluation, Financial Analyst
laugh
BRIC's
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08/15/2015 08:26 PM
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Re: Impending U.S. Dollar Collapse Should Be Getting Attention, Not China’s Devaluation, Financial Analyst
Well it's certainly not going to be the bitcoin that saves America.
Anonymous Coward
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08/22/2015 08:02 PM
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Re: Impending U.S. Dollar Collapse Should Be Getting Attention, Not China’s Devaluation, Financial Analyst
bump
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08/31/2015 06:38 PM
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Re: Impending U.S. Dollar Collapse Should Be Getting Attention, Not China’s Devaluation, Financial Analyst
bump
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09/01/2015 06:43 AM
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Re: Impending U.S. Dollar Collapse Should Be Getting Attention, Not China’s Devaluation, Financial Analyst
Putin says dump the dollar
[link to www.rt.com]





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