CNBC Stock Blog
- Why You Should Play the Reflation Trade: Stock Picker
- S&P to Hit 1,200 by Year-End: Chief Investor
- 5 Big Bank Stocks Investors Should Consider: Strategists
- My 2010 Home Price Outlook: UBS Analyst
- Why Are Options Piling into Dollar Tree?
- Markets Can Rise 5-10% in the Near-Term: Strategist
- Buy These 'Competitively Positioned' Stocks: Portfolio Manager
- 5 Stocks That Benefit from Health Care Legislation: Analysts
- 9 Stocks That Play Rising Water Costs: Strategists
- Gold Prices Can Double in 3 Years: Portfolio Manager
MOST SHARED
- The 'Real' Jobless Rate: 17.5% Of Workers Are Unemployed
- Citi Mortgage Reveals What Treasury Won't
- Wednesday's Economic News Crunch Could Tilt Markets
- NBA D-League On The Rise
- Trading Block
- Amended Berkshire Hathaway Filing Indicates No Secret Stock Stakes at End of Q3
- Japan Export Rebound Eases Fear of New Recession
- Australia Wheat Exporters Face Challenges: GrainCorp
- Australia's Economy Upswing to Last Years: Central Banker
- The Social Media Gaming Threat
- Citi Mortgage Reveals What Treasury Won't
- S&P to Hit 1,200 by Year-End: Chief Investor
- Amended Berkshire Hathaway Filing Indicates No Secret Stock Stakes at End of Q3
- Facebook's Biggest-Ever Holiday Shopping Season
- Facebook's New Dual Class Structure - Slow Steps to an IPO
- 5 Big Bank Stocks Investors Should Consider: Strategists
- Gambling Drunk, Texting to Live And America's On Sale - Your Emails
- Nov. 24: Unusual Volume Leaders
- NBA D-League On The Rise
- Wednesday's Economic News Crunch Could Tilt Markets
- Call Me Crazy: Confessions of a Black Friday Shopper
- US Firms Hit by Payroll Taxes at Exactly the Wrong Time
- Citi Mortgage Reveals Something the US Treasury Won't
- Fed Sanguine About US Recovery, Worried on Jobs
- Amended Berkshire Filing Reveals No 'Secret' Holdings
- In Time for Holidays: More Gloom and Doom on Economy
- Holiday Guide to This Season's Smartphones
- Market Pros Reveal Top Black Friday Trades
RSS FEED
Text Size 
CNBC News Associate
Sell U.S. stocks, sell U.S. bonds, sell the dollar and protect your wealth by going abroad, said Peter Schiff, president of Euro Pacific Capital.
“When [the U.S.] decouples, the world will thrive,” Schiff told CNBC. “The world doesn’t need our consumption, we need their production. The global economy is fine without propping up the U.S. economy. We are in serious, serious trouble.”
Schiff said it’s not only a possibility, but “it’s inevitable” that Brazil and China are eventually going to dump the dollar as the international currency of choice. (Watch interview for more of Schiff's reasons why the U.S. dollar is in trouble.)
“As far as I’m concerned, the U.S. has already lost its AAA rated status,” said Schiff.
He said emerging markets continue to be strong and had great gains since they bottomed in October 2008.
“Americans are going to lose their wealth if they go down with this ship,” he said. “I’m trying to help by getting their stocks abroad, out of the dollar and protecting them from Ben Bernanke, Obama and the congress.”
Disclosure:
No immediate information was available for Schiff or his firm.
______________________________
______________________________
CNBC's Companies in the News:
General Motors [GM
Loading...
()
]
AIG
Xerox
GMAC
Johnson & Johnson
______________________________
Data is a real-time snapshot *Data is delayed at least 15 minutes