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The natural course of the U.S. “empire” is that of currency devaluation and an eventual credit collapse, said Dan Oliver, founder of Myrmikan Capital.
“What backs the dollar? The Fed’s assets do, and if you look at the Fed’s assets, what do they own? They own a bunch of Treasury bonds. They own the debt of an insolvent Congress,” Oliver told David Lin, anchor for Kitco News. “If and when, I think when, the U.S. power starts to devolve, starts to fall apart, the market will say ‘what is behind that dollar?’ and the answer is very little.”
Follow David Lin on Twitter: @davidlin_TV (https://twitter.com/davidlin_TV)
0:00 – Credit collapse
4:25 – Taper tantrum
9:17 – Fed mandates
15:00 – Gold and inflation
18:22 – Gold and real interest rates
20:30 – Alternatives to gold
22:00 – Cryptocurrencies
25:22 – Catalyst for $10k gold
#gold #Fed #economics
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