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Daily News
19916
“Ned Goodman:the Dollar is About to be Dethroned As the World’s De Facto Currency”
by examiner.com
September 19th, 2013
by examiner.com
September 19th, 2013
On Sept. 15, Canadian billionaire Ned Goodman spoke at the Cambridge House regarding the U.S. dollar, and the state of the Western economies. In his nearly eight minute speech, the 75 year old CEO of Dundee Capital Markets and Chancellor of Brock University painted a picture of the upcoming change in reserve currency control by the U.S., and how the dollar will soon be replaced as nations around the world rush to get rid of their currency reserves.
Ned Goodman: In my view, the dollar is about to become dethroned as the world’s de facto currency. I’ll tell you how I came to that conclusion so quickly… the new President of China, Xi Jinping, his first visit on the day of his becoming President, was at his request to meet with Mr. Putin. And he immediately made a deal with Mr. Putin to get all the oil that he needs, which he can buy in Renminbi.
We’re headed to a period of stagflation, maybe serious inflation, but stagflation for sure, and the United States will be losing the privilege to print at its will, the world’s reserve currency. A period that’s going to be very inflationary, and I can tell you that before that happens, it is likely that it is going to get quite ugly. - Ned Goodman, Cambridge House
Goodman’s assessment falls in line with a story we broke on Examiner over a year ago, where details of the oil agreement between Russia and China were provided to source by officers within the oil industry. Besides being able to purchase oil using a currency other than the U.S. dollar, China began to wholesale Russian oil to countries around the world, including Iran who even today remains under UN sanctions.
