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Canadian billionaire predicts end of US Dollar as world’s reserve currency

Canadian billionaire businessman Ned Goodman predicts the end of the U.S. Dollar as the world’s reserve currency. He says the transition out of the U.S. Dollar will become, “…quite ugly.” He delivered the lecture at Cambridge House’s Toronto Resource Investment Conference 2013 on Thursday, September 12, 2013.



15 Comments on "Canadian billionaire predicts end of US Dollar as world’s reserve currency"

  1. TIKIMAN on Mon, 16th Dec 2013 2:02 pm 

    The educated non-sheep American can see this. We don’t need elites to tell us it’s coming.

    Start to prepare people..

  2. BillT on Mon, 16th Dec 2013 3:06 pm 

    This is not news to the informed. It’s been obvious for years. That is what Iran is all about and Syria and Libya and Iraq, and … Now that China has come to prominence and is strong enough to overthrow the dollar, it is inevitable.

    It will affect every country that has ties to the dollar, especially the western countries that have huge banking ties, which is all of them.

    I’m preparing for the day, are you?

  3. CAM on Mon, 16th Dec 2013 3:32 pm 

    Sadly, this ship is too big to turn around. Tragically it is also ineptly captained. Like the Titanic even before the iceberg, the die has been cast. Now it appears that no amount of hard port rudder or full astern will avert tragedy.

  4. GregT on Mon, 16th Dec 2013 3:47 pm 

    Tikiman,

    If you are talking about ‘formal’ education, I would have to whole-heartedly disagree. It is the education system that created the ‘sheep’ in the first place, and the American education system is well known worldwide, for creating some of the most dumbed down ‘sheep’.

    BillT is correct,

    The US is not the only country to be impacted, all western nations are in for VERY difficult times. This will make the Great Depression look like a walk in the park.

    Do you know where YOUR food comes from?

  5. Arthur on Mon, 16th Dec 2013 4:49 pm 

    What happened in Russia and Eastern Europe between 1989-1991, is now going to happen in perfect symmetry in America and Western Europe as well, with two decades delay. The center cannot hold.

    The Eastern USSR empire was dissolved in 1991, the Western empire is going to be dissolved soon as well. Russian troops were withdrawn from Eastern Europe, American troops will leave Western Europe.

    Globalism adieu. Next year there will be referendums in Scotland and Catalonia about secession from London and Madrid resp. Similar movements exist in Belgium en Italy. Czechoslovakia and Yugoslavia went down the drain earlier. Expect secession movements to pick up steam in the US as well.

    This is the age of the smaller units.

  6. ghung on Mon, 16th Dec 2013 5:07 pm 

    Transitions this large usually involve wars. What form will this transition take? Will the US just quietly take its toy dollars and go home?

  7. GregT on Mon, 16th Dec 2013 5:36 pm 

    I suspect that the ‘wars’ will not be limited to international ones. When the former USSR fell, wars broke out between member states. I would not be surprised to see the same, in the ‘former’ US of A.

  8. Arthur on Mon, 16th Dec 2013 6:09 pm 

    The Soviet empire died in peace, except for relatively ‘minor skirmishes’ in Chechnya and Georgia. The war with Chechnya was the first ‘clash of civilizations’ (Muslim-Christian).It can be done peacefully.

    The British empire was peacefully dismantled on orders of Washington.

    The Dutch empire went less peacefully: 5000 Dutch and 150,000 Indonesians killed.

    The end of the French empire was even more bloody: in Algeria alone between 500,000-1,500,000 dead. And then there was the war in Vietnam.

  9. GregT on Mon, 16th Dec 2013 6:30 pm 

    Arthur,

    As you have so aptly pointed out, many times in the past, there is a great deal of racial tension within the US. There is also a growing dissent between Republicans and Democrats. There is already plenty of talk of secession throughout the states.

    http://www.thedailybeast.com/articles/2013/09/12/secession-fever-sweeps-texas-maryland-colorado-and-california.html

    Somehow, I don’t see this situation getting better in the face of further economic turmoil. Especially in a Nation that has some 270 million civilian owned firearms, and hundreds of billions of rounds of ammunition.

    I guess we’ll just have to wait and see what happens………..

  10. steveo on Mon, 16th Dec 2013 8:00 pm 

    All fiat currencies fall sooner or later. We just happen to unfortunate enough to be alive and trying to survive while it’s happening to the world’s reserve currency.

  11. Arthur on Mon, 16th Dec 2013 9:01 pm 

    there is a great deal of racial tension within the US. There is also a growing dissent between Republicans and Democrats. There is already plenty of talk of secession throughout the states.

    No offense intended but you can compare the US with a Hamburger. Euro-America is the slice of meat in the middle, the youknowwho dominated elite is (1) a thin piece of bread on top and (2) the minorities are the thicker piece at the bottom. The US elite is applying pressure on both sides, causing the juice to flow from the meat into both slices of bread and saturate them. Beneficiaries:

    1. 2008 bailouts, dollar interest payments to the Fed, wars initiated by the Israel lobby, empire/MIC.
    2. handouts, affirmative action, food stamps, Obama care.

    In the last 10 years the American middle class has been suffering three major blows:

    1. Iraq (Israel Lobby) -> 3-5 trillion new debt
    2. Lehman crash -> trillions of bailouts. Reason: ‘sub-prime loans’, mostly mortgages given to minorities applying lax lending standards.
    3. Obama care -> I am no specialist but on the Dutch news there were interviews with ordinary European Americans with horrific amounts to be paid by them.

    Structural deficit: 1 trillion/year with no end in sight.

    How will the European American core and cash cow respond, once it will be clear for everyone to see that the American Dream, very real in the fifties and sixties, will be gone for ever?

    Last weekend I discovered this 3 part video and watched it in it’s entirety:

    http://www.youtube.com/watch?v=LBOTk00eMT4

    These folks are surprisingly articulate. You don’t have to like them, but I view them with a cold eye of a hobby geopolitician and I note what they say:

    1. White America is gone for ever
    2. We are Europeans
    3. We want to see America splintered in hundred parts
    4. We want to live among our own kind
    5. Our hope is ‘Imperium Europa’, meaning Paris-Berlin-Moscow
    6. They have revisionist positions and identified who is responsible for the present state of America
    7. They have no illusions about the ‘revolutional potential of 97% of the Americans’ (‘Masses of Asses’)
    8. They put their hopes on determined small determined elites, exactly as was the case in 1776

    The Alex Jones impersonation in part 3 is hilarious.

    I think this sentiment is going to be big in the near future.

    We must realize that the shape of the US has been extremely stable for a very long time, as compared with Germany, Russia, France, etc., but after the end of the American empire, there is no reason why the European Americans should remain loyal to Washington. On the other hand it is unlikely that Washington, minorities and white commies will let their cash cow go without a fight. I do not know how this is going to be played out, and a peaceful devolution is perhaps possible, but I agree with Dmitri Orlov, that a collapse of the US could potentially be much more painful than that of the USSR, and that even a situation as in Russia 1917-1922 could emerge. And just like the Maghreb, Arabia and Chechnya can generate 70,000 Jihadis fighting in Syria, I can imagine very well that 750 million Europeans can mobilize a few hundred thousand freelance mercenaries to fight on the side of the Constitutionalists, just like thousands of Anglos (like Orwell and Hemmingway) fought on the side of Republicans and communists (and Stalin) against Catholic hyper-nationalists in Spain in the thirties.

    In short: history will be back in spades after a long hibernate.

  12. Northwest Resident on Mon, 16th Dec 2013 10:49 pm 

    To all those who foresee revolution and break-up of America, think about this. What happens if “they” (the U.S. Military and the elites, et al) just cut off gas and fuel deliveries to gas stations throughout America? They can certainly do it. What then? Will the would-be revolutionaries and those looking to secede from America march on foot and maybe form pathetic little calvary units? They will be up against fully mobile armored units of American military that have been battle-hardened in ME conflicts. America might break up far in the future, but don’t look for it to happen any time soon. There are for sure generals and command officers who are thinking “over my dead body”, or more likely, over somebody else’s.

  13. Jimmy on Tue, 17th Dec 2013 1:11 am 

    Once the US dollar falls and the USA has to get by on the six or seven million barrels of oil a day it produces instead of the sixteen million or so it currently uses now to get by, once all that occurs living in the USA will resemble living in 13 century England

  14. BillT on Tue, 17th Dec 2013 1:39 am 

    Arthur, we agree on most points, and as an American, I see many clashes between segments coming in the next few years or the crash, whichever comes first. But the military may NOT hold if it gets too serious. There are many who would not fire on their own people, and many who would desert and go protect their families. Ditto for the police.

    When the US falls, I do not think it will go peacefully nor will the elite be in power long. There are only a few thousand of the truly elite, with families of their own and there are millions that will hate them and their families. Last time I looked there was no Elysium in the sky for them to run to.

    And, keep in mind that there are also about 8,000 nukes spread around the world with ‘Made in the US’ painted on them. Ditto 8,500 ‘Made in
    Russia’ and over 300 ‘Made in China’. Those are the unknowns.

    We live in interesting times.

  15. Arthur on Tue, 17th Dec 2013 12:39 pm 

    9/11 truth coming out would shortcut an endless amount of suffering by discrediting the entire elite and taking away any moral capital left for the elite to defend the union by force, enabling a wave of secession’s of the 51 states, with some of them re-confederating, making Washington like EU-Brussels, with merely 1% US GDP flowing via Washington and nearly independent states, that could slowly morph into auto-segregating ‘home lands’, like in South-Africa. Mexican south-west (possibly joining Mexico if the buck from Washington stops), African south-east, Jewish New York (with huge influx from Israel, that could go under, hand in hand with the American empire) and the rest European. A bit like Switzerland. Now how does that sound as a marketing concept?

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