Avoid Disaster, Get Out of U.S. Assets: Peter Schiff
By Matt Nesto
If you own dollar-denominated assets, then you’re a fool. It’s really that simple in the black and white world of American fatalism that is the trademark thesis of Peter Schiff, the CEO of Euro Pacific Capital.
“Unfortunately, because we raised the debt ceiling, because we continue to spend money, the cost of government is going to be born by those foolish enough to hold U.S. currency,” Schiff tells Breakout.
In fact, as much as the Wall Street pundits may attack him, Schiff’s longstanding affection for gold and other non-U.S. assets has served him well. Accordingly, there’s no strategic shift in sight from the man who’s says economic Armageddon will come because the debt ceiling was raised, not because it (almost) wasn’t.