A very good interview by Russia Today. It will make you worried about the future of any paper currency:
The low gold price essentially switches off the alarm in the financial system. What the purpose of the strong dollar was so that the US Government could issue lots of dollars without the alarm bells going off. The benefit for the US has been to live beyond their means. They managed to import goods from foreign countries and they have paid for them essentially with overvalued treasure debt. And they have even been so successful they have convinced other central banks that US treasure debt is a reserve asset. Now central banks around the world are sitting on trillions of dollars of treasure debt as a reserve asset which has a huge counter party risk now of the American government – they will not repay it. (Link)
Get ready for a rough ride Ladies and Gentlemen. No matter what country you are from, Russia or China or the European area. (All over the world.) Get ready for the ride…
Kyle & Svet
comments always welcome.