{"id":53724,"date":"2020-06-18T11:13:03","date_gmt":"2020-06-18T16:13:03","guid":{"rendered":"https:\/\/olduvai.ca\/?p=53724"},"modified":"2020-06-18T11:13:09","modified_gmt":"2020-06-18T16:13:09","slug":"gold-is-security-in-a-dollar-crisis","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=53724","title":{"rendered":"Gold Is Security in a Dollar Crisis"},"content":{"rendered":"\n

Gold Is Security in a Dollar Crisis<\/a><\/h3>\n\n\n\n
\"\"\/<\/a><\/figure>\n\n\n\n

Last week, we reported Yale economist Stephen Roach\u2019s warning<\/a> that \u201cthe era of the US dollar\u2019s \u2018exorbitant privilege\u2019 as the world\u2019s primary reserve currency is coming to an end.\u201d<\/p>\n\n\n\n

Roach isn\u2019t the only person in the mainstream sounding the alarm about the dollar\u2019s demise.  In a note published last week, Guggenheim Investments Chief Investment Officer Scott Minerd said that while \u201cthere are no signs the world is questioning the value of the US dollar\u201d right now, it\u2019s clear that the greenback is  \u201cslowly losing market share as the world\u2019s reserve currency.\u201d<\/p>\n\n\n\n

And he said buying gold<\/a> is the key to offsetting the dollar\u2019s decline.<\/p>\n\n\n\n

With the Fed going all-in on financing the government deficit, the US dollar could be at risk to negative speculation of its status as the dominant global reserve currency. Investing in gold may help offset this trend.\u201d<\/p><\/blockquote>\n\n\n\n

Even before the coronavirus pandemic, Peter Shiff was warning about a looming dollar crisis. During an interview on RT<\/em> last September<\/a>, he warned that America\u2019s \u201cfiscal profligacy\u201d was going to sink the dollar.<\/p>\n\n\n\n

What has enabled this over the years has been the world\u2019s willingness to hold US dollars as the primary reserve currency and to continue to loan money to Americans and to the US government so we can continue to live beyond our means. We can have enormous government programs that we don\u2019t pay for and we can consume all kinds of goods that we don\u2019t manufacture, and we can live in an economy based on consumption and debt without having to save or produce. The world has done that for us. And I think this is what\u2019s going to come to an end. I think we\u2019re going to see a collapse in the value of the dollar, and when the dollar does collapse, America\u2019s power is going to dissipate. <\/p><\/blockquote>\n\n\n\n

\u2026click on the above link to read the rest of the article\u2026<\/p>\n","protected":false},"excerpt":{"rendered":"

Gold Is Security in a Dollar Crisis Last week, we reported Yale economist Stephen Roach\u2019s warning that \u201cthe era of the US dollar\u2019s \u2018exorbitant privilege\u2019 as the world\u2019s primary reserve currency is coming to an end.\u201d Roach isn\u2019t the only person in the mainstream sounding the alarm about the dollar\u2019s demise.  In a note published last week, […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[374,18779,5482],"class_list":["post-53724","post","type-post","status-publish","format-standard","hentry","category-economics","tag-gold","tag-schiffgold","tag-world-reserve-currency"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/53724","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=53724"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/53724\/revisions"}],"predecessor-version":[{"id":53725,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/53724\/revisions\/53725"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=53724"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=53724"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=53724"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}