Top Signs the Dollar Is Doomed

Eddie van der Walt at the Bullion Desk interviewed James Rickards last week about the US dollar and gold. Rickards discussed some of the important signs that will signal the end of the world’s reserve currency, many of which are already occurring. Richards argues that gold is one of the best assets to protect yourself from the dollar’s collapse.

“The most likely outcome is some sort of catastrophic collapse, he said. ‘You could have a hyper-inflationary outburst, followed by collapse and social disorder, followed by some sort of neo-fascist deflation.’

Flowing from this, he said, the US currency will be devalued against gold – meaning large increases in the dollar price of gold.

Rickards predicts gold at $9,000 per ounce if the world moves to a quasi-gold-backed currency.

‘This is how things played out between 1921 and 1934 in Germany, so there is a precedent,’ he said.

But he says that there may be hope for investors even in such dark times. “Perhaps you, the individual, cannot stop the catastrophe, but you can protect yourself.

‘You don’t have to wait for a gold standard, you can put yourself on a gold standard by going out and buying some physical gold.'”

Read the Full Interview Here

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