Greyerz – China & Russia Positioning To Collapse US Dollar As Global Financial War Heats Up
KingWorldNews.com
October 07, 2017
With continued uncertainty around the globe, today the man who has become legendary for his predictions on QE, historic moves in currencies, told King World News that China and Russia are positioning to collapse the US dollar as global financial war heats up.
The End Of The US Dollar & Its Bankrupt Empire
Eric King: “Egon, KWN has had a lot of coverage from Stephen Leeb and Hugo Salinas Price about the gold-backed oil exchange that will be setup in China. What are your thoughts on how that’s going to impact the market, and does that bring gold back into the monetary system?”
Egon von Greyerz: “We haven’t got that confirmed yet but it is very likely that the Chinese will do something similar and stop using the dollar for buying oil. And remember, China is the biggest buyer of oil in the world. China imports something like $150 billion worth of oil every year…
Egon von Greyerz continues: “China is accumulating a lot of gold. We don’t know how much they have. Officially it is only a couple of thousand tonnes, but they could have 10,000 or 20,000 tonnes of gold. And once China announces the gold is to back a new oil exchange or for a partial backing of the yuan, of course all the power will go over to China from the US. That’s the end of the US dollar and its bankrupt empire.”
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