Central banks have destroyed value in the property markets, the bond markets, and the stock markets, British-American investor Mitch Feierstein says.
The author of 'Planet Ponzi' and blogs at PlanetPonzi.com talks to Max Keiser about the euphoria in the markets. He says that he is very bullish about commodities, which are the ‘real assets.’
“The commodities’ space is not up nearly as much in a bubble as everything else,” says Feierstein.
According to the banker, who worked on Wall Street in the 1980s, commodities are “a real value” while “you can actually exchange them for something that somebody needs.”
Feierstein says that in the next decade paper money, fiat currency is going to lose its luster.
“US dollar hegemony will end in the next decade,” he says, as part of his “big prediction.” The analyst explains how right now fiat currency, particularly the US dollar, is overvalued.
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