“Dollar’s demise will be felt worldwide”
Published: 07 October, 2009, 04:01
TAGS: Markets, Currencies, Economy
If the dollar collapses, it would spell economic disaster not just for the United States, but for the world, says Gerald Celente, director of the Trade Research Institute.
“It is more than just the demise of the dollar – this is going to be felt worldwide. There’s a major financial crisis ahead. The United States, the world’s superpower, is failing on its most basic level,” Celente told RT.
And the reason for the future demise of the American currency, Celente says, is the disproportionate financial system:
“We can’t print money out of thin air, backed by nothing and producing practically nothing.”
The researcher believes the crisis of the dollar is irreversible, since America is losing its gold – the value of its currency.
07.10.2009, 00:56
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