Is China going to be the next Switzerland?

Posted by dbhalling 9 years, 4 months ago to Economics
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A little long, but Peter Schiff makes a strong case that China will unpeg from the dollar. It will be bad for the average person in the US.

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  • Posted by freedomforall 9 years, 4 months ago
    It will also be bad for the Chinese economy and reducing the value of their large holdings of USD.
    Eventually they will bite the bullet.
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  • Posted by plusaf 9 years, 4 months ago
    I suggest http://MarketMinder.com...



    The Swiss Miss: Media’s Take on the Franc’s Fallout
    By Fisher Investments Editorial Staff, 01/19/2015
    Headlines globally remained stuck on Switzerland Friday, spouting nonstop warnings, lessons and overall hype. To us, it all seems fairly out of proportion. Switzerland is tiny, and the franc’s wild ride is a textbook case of a currency peg gone bust. The writing was on the wall, and the global implications here are miniscule—this is nowhere near enough to end the bull market. Nor is it evidence of festering global weakness.

    Here’s a roundup of the major stories, which we read and analyzed so you don’t have to.

    Francs, Fear and Folly
    Paul Krugman, The New York Times



    http://www.marketminder.com/a/fisher-inv...

    and subsequent links... If Schiff is so wise, why does he even need to offer subscriptions to his fount of wisdom. Maybe he can't make enough money on his predictions.

    Why sell subscriptions? Why not be altruistic? :)
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