Thursday, May 3rd 2012
US Treasurys Are Junk, Dollar Headed For Collapse
Today's talking points
The greenback and the US bond market are headed for a collapse as the Federal Reserve loses the ability to service the nation`s debt with "artificially low" interest rates, Peter Schiff, CEO of Euro Pacific Capital told CNBC on Wednesday. "As far as I am concerned, US Treasurys are junk bonds," Schiff said on CNBC Asia's "Squawk Box". As each new day brings more economic uncertainty, many people are investing more into Gold.
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- Investors Fear Stock Market Teetering, Gold Comes to the Rescue