MidnightWatcher's Blogspot

“Panicky shoppers in Belarus are buying up consumer goods and scarce food supplies as fast as they can, after a sharp devaluation of the ruble failed to halt a slide in the national currency’s value.

Weeks of economic crisis have prompted many Belarusians to buy foreign currency – usually U.S. dollars or euros – to protect themselves against the ruble’s plunge. The government announced Tuesday the official exchange rate would be 4,930 rubles for $1 as of Wednesday, compared to the previous rate of 3,155 rubles, but that triggered an immediate shift in the ruble’s unofficial or black-market price, which now stands at about 6,500 rubles per dollar.” Read more.

Video: Peter Schiff Says US Dollar Could Collapse by Fall 2011 – CEO & Chief Global Strategist of Euro Pacific Capital, Peter Schiff, has been correct about a lot of stuff in the past few years and now believes that the US Dollar may collapse as soon as the fall of 2011: