![Shocked :shock:](./images/smilies/icon_eek.gif)
WOW if he’s right this time we could be in for a rough ride indeed… maybe I really ought to have a pretty large allocation to gold in my portfolio!
Q: How would turmoil in the U.S. affect the dollar?
A: There is too much debt that will be monetized, as is happening in Japan as well as the U.S. and the eurozone -- so in all three of the world's major reserve currencies -- which will devalue their monies and the debt assets, which are the promises to receive this devalued money. The devaluations will show up in more inflation and higher gold prices, rather than in one currency falling a lot relative to the others. In other words, the debt will be monetized, and the value of all monies will decline. I believe that will be the trend for several years. https://asia.nikkei.com/Editor-s-Picks/ ... ion-looms2