Peter Schiff, "Opportunity of a Lifetime’

By on November 25, 2008

Marc Courtenay reports at Seeking Alpha that Peter Schiff admits to being caught offguard by the sharp rally in the dollar. However, Schiff believes that the “phony” rally in the dollar will end soon, driving up the prices of commodities, foreign stocks and currencies which he characterized as an opportunity of a lifetime.

Schiff reportedly felt the slump in the gold price was partially due to a margin call on U.S. financial firms. He also believes the U. S. stock market could be in a bear market for another 5 to 10 years as the debt burden continues to weigh on the economy.


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