Saturday, April 30, 2011
Peter Schiff: Devalued Dollar Driving Up Gasoline Prices
Well-known commodity expert Peter Schiff is spot one on this. As long as the United State is creating fiat currency, prices of commodities and goods will continue to rise. Also notice that since the United State abandoned the gold backing of the dollar, gas prices have been on the up and up.
The Federal Reserves current position of flooding the market with devalued money through quantitative easing will continue to force gasoline and other prices upward. Simply put, the U.S. dollar is heading to a point where it will have no intrinsic value in any marketplace around the globe.
So when will those that have been elected to Washington take on the Federal Reserve and their reckless monetary policy?