Renowned investor and economist Peter Schiff, the president of investment firm Euro Pacific Capital and author of 'Bull Moves in Bear Markets' said the US dollar is expected to get even weaker, reaching new lows versus commodities and other currencies.
He sees the Dollar moving to the center of a carry trade and encouraging global investors to borrow more dollars to fund higher-yielding currencies and assets.
Speaking in a recent interview with CNBC Schiff said: “I don’t know when [the dollar] is going to strengthen,” Schiff told CNBC. “The dollar isn’t the new yen, it’s unfortunately the new peso.”
“The yen has gone a lot higher but the dollar is going to go a lot lower, which makes it ideal,” said Schiff.
“Not only can you borrow dollars for very cheap and earn to carry by investing in higher yielding assets, but the dollar is going to fall sharply. So anyone who puts on the carry trade is going to make a ton of money.”
Peter Schiff`s comments on the economy, stock markets, politics and gold. Schiff is the renowned writer of the bestseller Crash Proof: How to Profit from the Coming Economic Collapse.
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