Will China Pull a “Switzerland” on the U.S. Dollar?

Thursday, January 15, will be remembered as the day Switzerland abandoned its peg to the Euro
The Swiss defended their policy to peg to the Euro, but suddenly reversed, limiting their losses
They admitted they were wrong
Although the Swiss stock market went down in their currency, it was up in every other currency
Gold is up against everything except the Swiss franc
The news in the Swiss market will be a tremor compared to the earthquake if the Chinese abandon their peg both to the Hong Kong Dollar and the Yuan
America will win the currency war to the detriment of the American people

Peter Schiff is an economist, financial broker/dealer, author, frequent guest on national news, and host of the Peter Schiff Show Podcast.

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