Checkpoint Asia

Peter Schiff: Russia Is Preparing for the End of Dollar as World’s Reserve Currency (VIDEO)

Moscow has been stocking up on gold for years for exactly the reason you think it has

“I think what Russia is doing and what other central banks are recognizing is that they need to increase their gold reserves because of the impending dollar crisis.”

“Up until now people have still perceived value in the dollar but I think that is going to change with the next reccesion when the Fed goes back to zero [interest rate] and when we launch QE4 I think the dollar’s role as a reserve currency is going to be questioned and the central banks need an alternative, and the only viable alternative to back up their own currency is real money which is gold.”

During the next recession the role of the dollar is going to be questioned