zerohedge.com / by Tyler Durden / Dec 13, 2017 8:50 PM
I recently spoke with my friend and colleague Chris Lowe about China’s new alternative financial system – and how it could mortally wound the US dollar. It was such an important discussion that I had to pass it along.
Using force to compel people to accept money without real value can only work in the short run. It ultimately leads to economic dislocation, both domestic and international, and always ends with a price to be paid.
– Former U.S. Congressman Ron Paul
He who holds the gold makes the rules.
– Old saying
Chris Lowe: Why did you start researching the petrodollar system and its potential unraveling?
Nick Giambruno: This has been on my radar since 2006. That’s when Ron Paul, then a Republican congressman, spoke to Congress about the collapse of the dollar-based global monetary system.
As I recently told my Crisis Investing readers, I think it’s his most important speech ever. It’s called “The End of Dollar Hegemony.”