We just had a former Obama economist come out a few days ago and say the risk to the United States is a strong dollar, and we should give up the reserve currency position. Why? Because they realize there is no other choice. What are you going to do, put your retirement money in rubles? How about Yuan? There is no place you can go. It's only dollars." So, is the dollar is not going to fall out of bed anytime soon? Armstrong says, "Not yet. You have to take the dollar up, and that will bring gold down short term. Also, as war begins to happen, you have to realize that capital flees from wherever conflict is. The more conflict you have in the Middle East and Europe, the more money is going to come this way (to the U.S.)"

In closing, Armstrong gave an ominous prediction and said, "The next decline we will see is going to be far worse than the last one. Each one is building in intensity."