Ned Goodman:The dollar is about to be dethroned as the world’s de facto currency (Video)

The Fed will very likely never ‘taper’.  If so, there will be a bond sell off which would quickly spiral out of control. Quantitative easing, or QE, will be permanent until it eventually causes a collapse.

The Fed not tapering is also supported by Egon von Greyerz, the founder of Matterhorn Asset Management in Switzerland, in an interview just two days ago.

The ‘day of reckoning’ is indeed coming. The question is not if, but when.

On Sept. 15, Canadian billionaire Ned Goodman spoke at the Cambridge House regarding the U.S. dollar, and the state of the Western economies. In his nearly eight minute speech, the 75 year old CEO of Dundee Capital Markets and Chancellor of Brock University painted a picture of the upcoming change in reserve currency control by the U.S., and how the dollar will soon be replaced as nations around the world rush to get rid of their currency reserves.

Ned Goodman: In my view, the dollar is about to become dethroned as the world’s de facto currency. I’ll tell you how I came to that conclusion so quickly… the new President of China, Xi Jinping, his first visit on the day of his becoming President, was at his request to meet with Mr. Putin. And he immediately made a deal with Mr. Putin to get all the oil that he needs, which he can buy in Renminbi.

We’re headed to a period of stagflation, maybe serious inflation, but stagflation for sure, and the United States will be losing the privilege to print at its will, the world’s reserve currency. A period that’s going to be very inflationary, and I can tell you that before that happens, it is likely that it is going to get quite ugly. – Ned Goodman, Cambridge House

In the wake of the banking crisis of 2008, the world has quickly begun moving away from U.S. dollars, and into trade agreements which bypass the reserve currency and SWIFT systems. In 2008, Chinese Yuan made up 0% of all international transactions, but in the five years since, the Asian currency is now involved in 12% of all global trade.

The death of the dollar, and its removal as the world’s reserve currency, is no longer a conspiracy, or dreamed outcome by most of the financial world, and instead is an expected reality for the near future. When that day comes is a guess most analysts cannot predict, but in light of how Russia and other nations rejected the U.S. in their desire to chastise Syria last week, the fear of dollar hegemony no longer carries any real weight to it. And like the Suez Canal event in the 1950’s, which saw the end of Britain as a global superpower, so too may the events of Syria spell the end of America’s domination over the global economy.

Full article: Ned Goodman:The dollar is about to be dethroned as the world’s de facto currency (Video) (Examiner)

2 responses to “Ned Goodman:The dollar is about to be dethroned as the world’s de facto currency (Video)

  1. LOL! He’s talking about the end of the US currency as the de facto world currency and using China as an example!?! Granted, the US Dollars is nothing more than fiat and fractional reserve banking is the biggest theft ever developed (congrats, House of the Red Door); however, if you want to see a propped up currency and economy look no further than China. Please. This guy just made a big bet against the dollar on the Forex and, at the levels billionaires play at, only need a slight movement to get paid–big time. I’m sure his comments got him what he wanted and, should he make a bet the other way, in the future he is likely to change his tune. Economic hegemony has always been tied to military hegemony and the US has got that in spades. When the US is no longer the world’s dominate military power then–and only then–will the Dollar fall as the de facto world currency (look at the Pound for proof). In the meantime, if you just happen to be heavily invested in Chinese currency have a nice read:

    http://www.cnbc.com/id/100849458

    Mike

  2. So cool; China can now buy Bonds from Greece, Zimbadwe, Cuba and No. Korea… Good luck on that. By the way; Canada to USA trade balance will be destroyed too, if the US dollar collapses. Sorry Canuck…