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Peter Schiff Says Don’t Believe The Hype. ‘The Dollar is Going to Crash, Buy Gold’
Peter Schiff believes that just because the dollar continues to rally, it does not mean it’s a permanent thing. Peter says not to buy into the false narrative, once traders start to become aware what a mistake the bullish dollar bets were, things will implode .
Freedom Outpost:
The dollar index is on a nine-straight month rise. This change has caught investors by surprise and has forced a shift in perspective where the dollar is consistently in a state of debt-fueled decline.
While some minds are changing, Peter Schiff, CEO of EuroPacific Capital, said don’t believe the hype, calling the storyline a “false narrative.”
“I’m surprised it’s rallied this much but that doesn’t mean it’s permanent. When traders wake up to reality and realize how wrong these [bullish dollar] bets are, they’re going to unwind these trades, and the dollar is going to implode very quickly,” he said. “I think the people who have been betting on the dollar and have made a lot of paper profits, if they’re caught in this when it reverses, they’re going to end up losing a lot of money,” he explained.
Schiff compared the dollar to the subprime mortgage crisis where the banks making those bets would have failed if the government didn’t bail them out.
I believe the same as at the moment everything is indicating towards Dollar getting Crash but I don’t know about buy still since he is so correct on the other that I believe this will be the case with Gold too. For me everything is made even simpler and that is all due to OctaFX, it has really good analysis system where we get update daily from highly qualified team of experts and on almost every single instrument that is available in Forex.