The Dollar is Mortally Wounded (Video)

Peter Schiff appeared on Yahoo! Finance yesterday to explain how an international currency war harms average citizens by allowing government to inflate away its debt. Unfortunately, this is one war the US is aiming win.

“What’s unique about a currency war, is that unlike a conventional war, the object in a currency war is to kill yourself. The country that wins is the country that inflicts the most damage on its own citizens, because when you debase your currency…you diminish the standard of living of your people. Because now their savings have less value, their wages have less value. Everything they need to buy is more expensive.

The real winner in a currency war is gold, because central banks can’t print that. They can’t debase gold. So as everybody is trying to destroy the value of their currency, the value of real money will continue to go up.”

Watch the Full Video Interview Here