Wednesday, February 29, 2012

Peter Schiff - What to Expect After DOW 13000

Peter Schiff - What to Expect After DOW 13000 :"....there is only one reason that the price of oil are going up the price of gasoline are going up here in the United States and that's because the federal reserve has to print a lot of money to monetize all these bunch of deficits they keep interest rates artificially low , the result of that is that oil prices are rising and it's a global phenomenon because remember we export our dollars all around the world and so foreign central banks buy them by printing their own money so this is all monetary driven , it's our fault , there is nobody else to blame , it is not the fault of Iran , it is a tax , we are paying higher gasoline prices because we have lower payroll taxes this is how they're financing government , they are not taking our purchasing power through taxation they are taking it through inflation , and it is not just oil prices , americans are going to have to get used to a much higher cost of living , the price of everything is going to go up and it is going to go up and it is going to go sky high..."

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Peter Schiff is a well-known commentator appearing regularly on CNBC, TechTicker and FoxNews. He is often referred to as "Doctor Doom" because of his bearish outlook on the economy and the U.S. Dollar in particular. Peter was one of the first from within the professional investment field to call the housing market a bubble. Peter has written a book called "Crash Proof" and a follow-on called "The Little Book of Bull Moves in Bear Markets". He is the President of EuroPacific Capital, which is a brokerage specializing in finding dividend-yielding, value-based foreign stocks.