The U.S. dollar continued to tumble against most Asian currencies Thursday, prompting a wave of foreign-exchange intervention by central banks in South Korea, Taiwan, the Philippines and Thailand seeking to limit damage to their export industries.
Peter Schiff comments on the dollar hitting a new low today as the Euro and the New Zealand dollars are having record High days. This could be due to people anticipating any announcements from the G20 in Pittsburgh that could have a negative effect on the dollar.
Hyperinflation Nation starring Peter Schiff, Ron Paul, Jim Rogers, Tom Woods, Gerald Celente, and others. Prepare now before the US dollar is worthless.
“When you print giant amounts of money…throughout history that has led to inflation.”
While many analysts expect the dollar to strengthen in coming months as the crisis fades and the U.S. economy turns toward growth, a growing chorus of investors is expressing concern about the longer-term outlook for the greenback.
In a new twist among economists, who have long worried about the effects of growing U.S. debt, they say that the huge liabilities the U.S. is taking on to dig its way out of crisis could ultimately undermine faith in the dollar.