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IPFS News Link • Russia

Putin Says Dollar Will 'Collapse Soon' as Russia and China Hoard Gold

•, Tyler Durden

First he explained the status quo…

"The Dollar enjoyed great trust around the world. But, for some reason, it is now being used as a political weapon to impose restrictions."

Then Putin explained the consequences…

"Many countries are now turning away from the Dollar as a Reserve Currency."

And ultimately what happens…

"US Dollar will collapse soon."

And just like that, it was gone. Remember "nothing lasts forever"…

As Bloomberg reports, Russia's central bank has been the largest buyer of gold in the past few years.

The World Bank's former chief economist wants to replace the US dollar with a single global super-currency, saying it will create a more stable global financial system.

"The dominance of the greenback is the root cause of global financial and economic crises," Justin Yifu Lin told Bruegel, a Brussels-based policy-research think tank. "The solution to this is to replace the national currency with a global currency."

1 Comments in Response to

Comment by Gary Fowler
Entered on:

The blue whale in the room that no one talks about is the US national debt, and total debt, some $70 trillion dollars. There will come a point in the future when the US will no longer be able to pay interest, and will have no choice but to default. Then watch all the cockroaches run.