Earlier this week on CNBC’s Closing Bell, Peter Schiff talked about how confused people are about the fundamentals of the floundering US economy. CNBC’s Steve Liesman is among the skeptics, and was eager to exchange critiques with Peter about the strength of the US dollar.
“There is no good alternative [reserve currency]. What you want to do is go back to real money. Gold is the best alternative, because none of these fiat currencies are any good. But certainly, compared to the dollar, other currencies are not nearly as bad. And the world does not come down to the dollar or the euro or the yen. There are a lot of other currencies out there where the centrals banks are not being nearly as reckless…”