Dollar collapse coming, gold to hit $10,000 per ounce: financial expert

The United States dollar will crash while gold will increase per ounce substantially. Those are the predictions by Bud Conrad of Casey Research who recently spoke with Future Money Trends late last week. Despite what the federal government has been claiming for the past few years, a crash is imminent.

Conrad began the interview by explaining that in his lifetime the dollar will implode and a new currency would be ushered in to replace the greenback, which would end a lot of debts and become bullish for gold.

“It will implode and will issue a new currency to replace the dollar. That will destroy an awful lot of debts,” said Conrad. “It will give the government a new leg, and if they can base it on something like gold it will, both, be very bullish for gold and create new confidence. If they create a new paper system like the old paper system it’ll die just like a Banana republic [like] Argentina about every ten years later.”

How bullish would it be for the yellow metal? $10,000.

“With that, I am saying in my lifetime we’ll see the demise of the dollar and certainly before that we’ll see gold at $10,000 an ounce,” added Conrad.

Since the economic collapse in 2007 an 2008, it has been warned by the likes of Peter Schiff, Jim Rogers, Marc Faber and others that the dollar would crash and gold would spike. Although the dollar has been devalued tremendously and gold has been trading around the $1,300 mark for the past few years, some are dismissing the latest claims now.

However, it is inevitable that the dollar will crash because the current monetary system and fiscal policy are unsustainable. Quantitative easing, record-low artificial interest rates, stimulus tools instituted by the Federal Reserve and the federal government’s enormous $200 trillion debt problem, which includes its unfunded liabilities and expenditures, will all lead to the death of the dollar.

It is very difficult to predict exactly when the dollar will head off the cliff and gold and silver will skyrocket. Eventually both instances will happen, but central banks are throwing everything at the crises except the kitchen sink. For example, what will happen when foreign governments cease demanding the U.S. dollar? This is one important element of a collapse in the current system.

How can Americans protect themselves? Well, besides acquiring precious metals – maybe even cryptocurrencies – it would be prudent to purchase any tangible asset you can get your hands on, much like what the Argentines are doing to combat high inflation. Over the past year, Argentines have been purchasing expensive vehicles, jewellery, property, precious metals and bitcoins.

Remember, prior to the Great Depression, when the boom was transpiring, the federal government continued to state that everything was great and that the policy of low interest rates would keep the market thriving. Even after the great October 1929 crash, the government tried absolutely everything to stimulate the economy, but the U.S. economy didn’t return to normal until after the Second World War when federal budget spending was reduced and resources were reallocated back to the U.S.

In other words, the economy is not improving, the labor market is still facing immense hurdles and the dollar has no value.

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Comments

  1. I am sure for every reasonable and sound-minded person the crash of a dollar is obvious and only the question of time, what makes me more surprised is the behaviour of all the top leaders pretending they can do something about it.

    Jull from http://www.cashloansonlinefast.com/

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