Dollar Destruction & A Golden Chinese Currency
Alasdair Macleod and Michael Hudson return as guests on the radio program this week.
Alasdair argues that a dollar collapse is likely to occur by the end of 2020 taking all the synchronized western economies and their currencies down with it. With a dollar collapse China’s interest will shift from supporting dollar strength to owning the world's reserve currency. But that will require China to back the renminbi with gold. It can easily do so given the vast supplies it has accumulated over the past several decades.
With a dollar decline not only gold but copper and silver will also gain value so that the massive copper-silver deposit in Peru being explored by Michael Hudson's Hannan Metals may become extremely valuable. He will elaborate.
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