icon bookmark-bicon bookmarkicon cameraicon checkicon chevron downicon chevron lefticon chevron righticon chevron upicon closeicon v-compressicon downloadicon editicon v-expandicon fbicon fileicon filtericon flag ruicon full chevron downicon full chevron lefticon full chevron righticon full chevron upicon gpicon insicon mailicon moveicon-musicicon mutedicon nomutedicon okicon v-pauseicon v-playicon searchicon shareicon sign inicon sign upicon stepbackicon stepforicon swipe downicon tagicon tagsicon tgicon trashicon twicon vkicon yticon wticon fm
11 Jun, 2019 12:51

Gold is always shiny but US dollar is a ‘hyperinflated bubble’ ready to pop – RT’s Keiser Report

Gold is always shiny but US dollar is a ‘hyperinflated bubble’ ready to pop – RT’s Keiser Report

Malaysian Prime Minister Dr. Mahathir Mohamad proposed a gold-backed currency as a unit of account for trade between East Asian nations. Today's currency trading is manipulative, he said.

“For the past 40+ years we’ve tried to remove ourselves from a gold standard, we pretended it doesn’t exist… and that failed because gold is always telling the truth… and you don’t have to trust to somebody printing up a whole bunch of money,” says Stacy Herbert.

She quotes the Malaysian PM who said the global market is tied to the US dollar, which gives room for the currency to be manipulated.

Max Keiser calls the US dollar “a currency that is now in a hyperinflated bubble,” saying that once it pops we’ll see gold price jump from $1300 per ounce to $2900.

For more stories on economy & finance visit RT's business section