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21 Jan, 2020 15:03

US dollar collapse will happen this year, gold fund manager tells RT’s Keiser Report

US dollar collapse will happen this year, gold fund manager tells RT’s Keiser Report

Central banks have been buying massive amounts of gold over the last 50 years, purchasing a historic high of 374.1 tons in 2019. The unprecedented shift has been seen by many as a move away from the US dollar.

The interesting thing, according to Egon von Greyerz of GoldSwitzerland.com, is that not every country is buying gold. He told RT’s Keiser Report that mainly Eastern central banks have been piling up the shiny metal. “We are talking about Russia and China, Turkey, Poland, and Hungary.”

Russia and China are the ones that are “really seeing what’s happening,” he says. “They know that the dollar is going to collapse.”

According to Greyerz, China, which didn’t reveal its true position of gold holdings, “might… have 20,000 tons that they have gathered over a long period of time.”

“Russia and China see that the dollar days are counted, and I agree with that totally. At some point it [dollar collapse] should happen this year and I think it will. We are going to see the dollar collapse and that would be very serious for the world and of course very serious for the United States,” he says.

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