Peter Schiff on U.S. Dollar Crisis: “The Dollar Bubble Is Going to Burst”

Peter Schiff, economist, best-selling author, and CEO of Euro Pacific Capital, believes a U.S. dollar crisis is underway.

“The dollar is very overvalued…and the dollar is a bubble,” he told Newsmax Prime on Aug. 11. “This dollar bubble is going to burst.”

Indeed, less than two weeks after Schiff’s interview, the U.S. dollar index, which measures the greenback against a basket of currencies, has retreated 2.1% to 93.063 for a fourth-straight loss.

And U.S. markets are getting rocked with a major sell-off – last week finished out as the worst for stocks in four years… Continue reading

Hagel’s Fate Was Sealed Long Ago

With only two years left in power and nothing to lose, the Obama administration needs all opposition cleared to permanently transform the country. By the time 2017 comes around, you won’t recognize it.

 

To the surprise of many, Secretary of Defense Chuck Hagel resigned his post Monday, apparently under heavy pressure. According to some accounts, this development has been brewing for weeks. In reality, it was presaged nearly two years ago in the former Army sergeant and Nebraska Senator’s farcical confirmation hearings before his one-time colleagues.

Before leaving for my present position last August, I spent six years at the Atlantic Council, where Hagel served ably as chairman until taking over the Defense Department. His predecessor, General Jim Jones, had been picked to join Obama’s “team of rivals” as National Security Advisor. Both men were highly accomplished public servants, widely respected by Republicans and Democrats alike for their competence, intellect, and integrity. Indeed, Jones may very well have been selected as National Security Advisor or another prominent role had John McCain prevailed in 2008. (Interestingly, Hagel was followed by Jon Huntsman, the erstwhile Republican governor or Utah and presidential candidate who’d alienated his base by serving as Obama’s ambassador to China.) Continue reading