Chris Wood, of CLSA and author of the Greed & Fear newsletter, was recently interviewed on CNBC and stated that the collapse of the Dollar would likely take place within five years. CNBC’s Dennis Kneale, however, asserts that the Dollar is “self-healing”, so that when the panic begins, “…suddenly people want to go into the Dollar, because the US Government is the most stable government on the planet”. I had to rewind, because I couldn’t believe what I had just heard.
This is precisely why looking to mainstream news sources as reliable conduits of factual information is so dangerous. If the US
government is the most stable government on the planet, then the world is in worse shape than I’d ever imagined. Cheers, – H.H.