Loading ...- Roach points to the growing current account deficit and the declining net-national savings rate as the two main factors pushing the dollar down.
- The dollar has declined against most major currencies over the past six months. Other analysts are also predicting a sharp loss of value.
The U.S. dollar will crash in value by the end of 2021, according to senior Yale University economist Stephen Roach. He also said the probability of a double-dip recession is now over 50%.
https://www.ccn.com/us-dollar-will-crash-2021-senior-yale-economist-warns/
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(Reality check: no central bank holds enough gold to put their fiat currency on a hard metal basis)
They do if the price of gold is revalued.
And that revaluation would need to be many multiples of what it currently is.
Once the stagflation crisis hits one central bank, it will quickly engulf all central banks, and all fiat currencies.
We will be lucky if a depression is all we endure. There are no historical or economic precedents for the near simultaneous collapse of literally every major currency in the world.
The aftermath might be friendly to gold, silver, and crypto, but it will be a brutal process getting there.
(Reality check: no central bank holds enough gold to put their fiat currency on a hard metal basis)