‘Death of Money’: Author Rickards Predicts Collapse of Global Monetary System in “Near Future”

Friday, May 30, 2014
By Paul Martin

SilverDoctors.com
May 30, 2014

The collapse of the monetary system awaits the world in the near future, says financial expert James Rickards. Russia and China’s desire to rid the US dollar of its global reserve currency status is an early sign of the “increasingly inevitable” crisis.
“China has three trillion dollars, but they are buying gold as fast as they can. China worries that the US is going to devalue the dollar through inflation so they want to have a hedge if the dollar goes down, so the gold will go up.”
The best-selling author writes that the “linchpin” of the collapse is the approaching failure of the dollar since it is at the foundation of the system. Powerful countries such as Russia, China, Iran, and India do not rely on the US in their national security and would benefit from the US economy being weaker, thus desiring to break free from the dollar standard.
He elaborates that the dual collapse “looks increasingly inevitable. The mistakes have already been made. The instability is already in the system. >We’re just waiting for that catalyst that I call the snowflake that starts the avalanche.”

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