Published: 2021.11.24. Doug Casey: When Will the Fed Collapse the Financial System?

Doug Casey: When Will the Fed Collapse the Financial System? - Preview

“What I call the 'Big Depression' started when inflation was going to be much worse,” Casey said in an interview. The value of the dollar and other currencies is being actively destroyed, and this is the fault of the governments and central banks of these countries. If they stop printing money, the entire financial structure could collapse.
The stock market is at an all-time high in a bubble, the bond market is in a hyper bubble, the financial expert said. For this reason, he does not participate in financial transactions. However, he is quite optimistic about gold, for example: "I think that gold will rise in value because it is the only financial asset that at the same time is not someone's debt." He believes that gold stocks in particular still have a lot of potential relative to their market value.
Seeking to make the Chinese yuan the world's reserve currency, China will peg the renminbi to gold through a fixed exchange rate in the coming years, Casey predicts. Trying to digitize the US dollar is a disaster in terms of economics and personal freedom. However, this is exactly what is happening now.