If you look at the problems in China right now, there is inflation, striking workers who are protesting inflation. Inflation in China is a direct result of the currency peg. People think China has an export economy. They don`t. They have a production economy. If they consume their production rather then exporting it to the US, they will be much better off. Because they will be able to reap the rewards of their own productivity.
in CNBC, June 21
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.