U.S. Dollar: The World Has A Lot More Confidence Than They Should

They can`t keep printing money without collapsing the Dollar. And I think that is the real collateral damage. The Federal Reserve will keep printing money to keep the bond market propped up, to keep the equity market propped up, the housing market propped up and the Government in business to enable them to keep borrowing and spending. So they will keep on printing and printing and printing until the bottom falls out of the Dollar, which will happen eventually. It should have already happened. But the world has a lot more confidence in our money than they should. Eventually they won`t and the confidence will fail and that is the crisis that we are heading into.

Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.

Video: Confiscating Excess Wealth

Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.

Dow Jones Industrials & Gold Parity

I don`t know how much the Dow Jones is going to decline. I think most of that is going to be made up with gold prices going up, not so much the Dow Jones Industrials going down because I do believe that they will print enough money to put a floor beneath the stock market. So, I don`t think they will meet at 2,000 or 3,000. I think they are going to meet at a much higher level.

By the time they are one-to-one again it will probably be with gold and the Dow Jones at 5,000 to 10,000 if not higher. So, I am not looking for a collapse in the Dow Jones but the Dow could certainly move down. The Nasdaq I think its the most vulnerable.

Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.