We posted a couple of weeks ago an article “Will China play the gold card?” from our “favourite billionaire” Hugo Salinas Price. He discussed the idea that China might devalue their currency against gold.
His thoughts were of course well timed given that China did devalue their currency only days later, not directly against gold but it was prophetic nonetheless.
In this interview with Greg Hunter, Mr Salinas Price discusses this piece in more detail including:
– How if a little country devalues that’s expected (Mexico has been doing this), but how when China does this it is very serious.
– How the US trade deficit will get worse because of this devaluation.
– How there will be a break down in international trade.
– How the US can only devalue the dollar against gold.
– How the current high price of the dollar against gold is only transitory.
– How there is a “break down” coming of the coming monetary system.
– Why debt liquidation is such an important factor to consider.
– How nothing has been solved and the world debt has grown another 40% in the last 7 years.
– Why the world will have an epileptic fit!
– Why the next war will not be fought in Europe, but might rather be in America.
– He also gives his opinion on “The Donald”.
– How he has a feeling we may be near a bottom in gold
– And finally how when we see a rising trend in gold it will be the last rise, as that will usher in a new monetary order.
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Hugo Salinas Price: We’re Going to be Drowning in Worthless Paper, 10.0 out of 10 based on 1 rating
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