EconomyNorth America

‘Smart countries accumulating gold’ ahead of US dollar collapse: Analyst

American broadcaster and political analyst Max Keiser has said that smart people and countries are accumulating gold ahead of the possible US dollar collapse.

He made the remarks on Keiser Report, a financial program broadcast on the Russian media channel RT, which he hosts alongside his wife Stacy Herbert.

He said that as stock market investors go euphoric for bankrupt, moribund companies, there are other ways to look at the real world measured by “honest money” like gold, RT reported.

 Max said that after 20 or 25 years of experimentation during which gold it has become clear that “the central bank has gone rogue and Wall Street is happy to counterfeit billions of shares of worthless paper.”

He noted that that’s why gold is now “moving higher against everything, including stocks, and it’s also why smart people are accumulating gold. Smart countries are accumulating gold.”

“We may never see inflation; we may go from the phantom deflation right to hyperinflation. So, it’s phantom deflation, there’s no deflation, and then dollar collapse,” he explained.

Analysts believe that the United States has a “bleak” financial future amid the worsening coronavirus pandemic.

Growing signs of coronavirus damage to corporate America have overshadowed optimism about sweeping official moves to protect the economy. Market analysts say the slump marks the investors’ lack of optimism about the positive impacts of a potentially massive US government stimulus.

US Federal Reserve Chair Jerome Powell has said that the country is facing a severe economic downturn amid the global pandemic.

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