The Season’s Biggest Turkey!
Posted on November 25th, 2006 by MoverMike
Peter Schiff of Euro Pacific Capital has some alarming words about the USD and an idea about where we are heading:
This week the U.S. dollar was carved up like a Thanksgiving turkey. Against the Swiss franc, Euro, British pound, and Japanese yen, the dollar lost 3%, 2.2%, 2% and 1.8% of its value respectively. To put those declines into perspective, in terms of the Euro the Dow Jones’s 60 point plus decline this week translates into the equivalent of a 320 point decline when measured in euros.
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