Article written by Prieur du Plessis, editor of the Investment Postcards from Cape Town blog.
According to Peter Schiff, President of Euro Pacific Capital, “the only way China can stop its inflation problem is to stop importing it from us [the U.S.], which means … they have to let their currency rise”. If that happens, “the U.S. had better brace itself,” says Schiff (via Yahoo Finance – Tech Ticker).
“It will unleash an inflationary nightmare here in the United States. As the Chinese currency increases in strength, the dollar must decrease. And, so Americans [would] experience higher prices, falling purchasing power and a lower standard of living.”
Source: Yahoo Finance – Tech Ticker, January 24, 2011.
China could unleash inflationary nightmare in U.S., warns Schiff was first posted on January 26, 2011 at 9:00 am.
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