“The world is totally upside down right now — it’s completely crazy,”

Canadian Billionaire Predicts The End Of The Dollar As Reserve Currency; Warns "It's Likely To Get Ugly"

By Tyler Durden

Created 09/17/2013 - 22:22

Beginning with how Kissinger and Nixon enabled the USD as the world's de facto reserve currency through oil, Canadian Billionaire Ned Goodman explains in the brief but far-reaching clip how it is both inevitable (and rapidly approaching) that the rest of the world will turn its back on the dollar. With China and Russia (among many others that we have detailed in the past) agreeing on non-USD swap terms for energy, the cracks are starting to show and as Goodman details, "in the 1930s, everyone wanted USD (backed by silver)," but today, backed by nothing, "everyone wants to get rid of them." Buying hard assets is crucial (he has never been more bullish of gold) as we head into a period of stagflation or even high inflation; and as Goodman previously commented "the world is totally upside down right now - it's completely crazy," in fact, he adds, "I'm keen on anything that's going to live with higher inflationary numbers, because I can't see the world getting out of the problems that it's in."

comment:

All too true.  Something's gotta give and soon.

Published on Zero Hedge (http://www.zerohedge.com)

Home > Canadian Billionaire Predicts The End Of The Dollar As Reserve Currency; Warns "It's Likely To Get Ugly"

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Source URL: http://www.zerohedge.com/news/2013-09-17/canadian-billionaire-predicts-end-dollar-reserve-currency-warns-its-likely-get-ugly