11/1/2007-Peter Schiff Interview Glenn Beck Show
Housing foreclosures up 100% compared to last year, and months of falling prices.
Fears lead to a rate cut, which now causes a virtual free fall of the US dollar.
Oil is now at record highs in US denominated prices - in other words, while it might be the same price in Europe and Canada after currency is adjusted, in the US it is getting more expensive.
The world is not buying US debt anymore - oh no, what can we do Peter Schiff?
How do these coexist: a 40% drop in the value of the dollar along with 1% inflation? What?
The US dollar is already going down and the Canadian dollar is way up. Canadians used to earn way less, and in one fell swoop now earn the same or more than their american cousins. It all spells out the same message, the US dollar and economic decline this time could be worse than in the 1970s.
Okay Peter, thanks....
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