Yra Harris & Peter Schiff: The Currency Wars Are Real And U.S. Is Going To Win, Then ‘Implode’. Consumers Will Be The Main Victim And Metal Will Be The Prime Beneficiary.
February 13th, 2013
By Greg Hunter’s USAWatchdog.com
Legendary trader Yra Harris says, “The currency wars are real, and the game is on.” Harris says the global currency war is what helped Volkswagen gain market share in the last few years. So, what is Japan doing? It is cutting the value of its currency so Toyota will gain market share….
US to Win Currency War, Then ‘Implode’: Schiff
…”There is a currency war going on,” Schiff said at the Inside ETFs conference presented by Index Universe. “The irony of a currency war which makes it different from other wars is the object is to kill itself. Unfortunately, I think the U.S. is going to win the currency war.”
The CEO of Euro Pacific Capital in New York has been one of the market’s most outspoken supporters of gold as a hedge against inflation specifically and global turmoil in general.
He believes the metal will be a prime beneficiary of the currency war, while consumers will be its main victim.
“Anybody who believes there is no inflation isn’t shopping,” he said.