Recently, bad economic news has been good for the dollar. Because bad economic news make people sell stocks and make people buy dollars as a safe haven, which is ridiculous.
Why are people seeking safety in a country where the economic fundamentals are deteriorating as fast as they are here in the United States? It shows that this dollar rally is nonsense.
Peter Schiff is the President and Chief Global Strategist of Euro Pacific Capital. As a result of his accurate forecasts on the U.S. stock market, economy, real estate, the mortgage meltdown, credit crunch, subprime debacle, commodities, gold and the dollar, he is becoming increasingly more renowned.
He has been quoted in many financial TV channels like CNBC, CNN, Fox News, Fox Business Network, and Bloomberg T.V.. In Peter Schiff`s blog you can track all his investment and trading ideas for 2009 as well as all his public appearances on TV, video or in the press.