The biggest story of the day that very few people in the financial world seem to be discussing, noticing or even caring about is the weakness in the U.S. Dollar. Nobody has been forecasting a weak dollar other than me. None of the people who routinely show off on the financial networks have been bearish on the dollar, in fact they have been universally bullish.
Why are so many people bullish on the dollar?
Because they believe the U.S. economy is strengthening and they believe that the Federal Reserve will be tightening and they believe therefore that these are bullish for the dollar. They also believe that the U.S. economy is in better shape than the rest of the world because we stimulated it and they did not, or they did not stimulate enough or they practiced austerity and so we are getting the benefits of all the things the Federal Reserve did and other countries have not done that yet, they are going to do that, they will learn from us. So they are going to print more money and so we are going to have a tighter monetary policy.
All this as I have been saying for years is a complete nonsense. And today the dollar is at a new 5 year low against the pound sterling.
Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.
- ► 2017 (114)
- ► 2016 (252)
- ► 2015 (344)
- Schiff For President?
- Why Are Gold Prices Falling?
- Gold Prices Are Not Responding To Inflation
- 2014: Stocks vs. Gold
- Inflation Distorts The Markets
- What Is Going To Drive The Price Of Gold And Silve...
- Trading Bitcoins For Gold & Silver
- Bitcoins Will Continue To Trade Lower
- Bernanke On Interest Rates
- The Holy Grail Of Inflation
- Profits & Risk-Taking
- This Is A Wall Street Bubble
- Video: We Have Another Housing Bubble
- Forex Markets: Watch The USD/JPY
- The Housing Market Is Already Rolling Over
- Inflation: Is It Good or Bad?
- Inflation: Gold Prices, Commodities
- Video: Roubini & Schiff Head-To-Head
- Food Inflation: The Real Cause
- Inflation Showing Up In Food
- Stocks: The Stealth Correction
- The U.S. Is The Biggest Inflation Creator In The W...
- Central Bankers Are Embracing Inflation
- Concern About A Strong Euro Is Bullish For Gold
- Yellen Demonstrates So Much Ignorance
- All The Currencies Are Going Up Against The U.S. D...
- Forex Markets: New Zealand Threatens Markets With ...
- U.S. Dollar Weakness: 5 Year Lows Against The GBP
- Financials: Bearish Looking Charts
- A Wake-Up Call For The Bond Market
- Economic Data: April`s ISM & The Weather Excuse
- Employment Report: 1 Million Left The Labor Force ...
- Video: Minimum Wage & Vanishing Jobs
- U.S. Economy: There's No Evidence Of A Recovery
- What Is Going To Happen To GDP If The Fed Withdraw...
- GDP Report Misses Expectations
- The Fed Will Reverse Course On QE
- ▼ May (37)