Sunday, September 22, 2013

US Dollar Will Be DeThroned As World's Defacto Currency

Canadian billionaire businessman Ned Goodman predicts the end of the U.S. Dollar as the world's reserve currency. He predicts the transition out of the U.S. Dollar will become, "...quite ugly."

Lecture at Cambridge House's Toronto Resource Investment Conference 2013 on Thursday, September 12, 2013.

"In my view, the dollar is about to become dethroned as the world's de facto currency. I'll tell you how I came to that conclusion so quickly... the new President of China, Xi Jinping, his first visit on the day of his becoming President, was at his request to meet with Mr. Putin. And he immediately made a deal with Mr. Putin to get all the oil that he needs, which he can buy in Renminbi."

"We're headed to a period of stagflation, maybe serious inflation, but stagflation for sure, and the United States will be losing the privilege to print at its will, the world's reserve currency. A period that's going to be very inflationary, and I can tell you that before that happens, it is likely that it is going to get quite ugly." - Ned Goodman

No comments: