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Fiat currencies may be gone by end of this year, Alasdair Macleod tells Keiser Report

Fiat currencies may be gone by end of this year, Alasdair Macleod tells Keiser Report
Since the outbreak of the Covid-19 pandemic, global stock markets have been on a dizzying rollercoaster ride and, according to experts, that is likely to continue.

RT’s Keiser Report was joined by Alasdair Macleod, head of research for Goldmoney.com, to discuss the increasingly unstable markets and ask whether or not they are a sign of the end of the fiat currency regime.

“We have come up with a very real crisis,” Macleod said, explaining that for decades, the US Federal Reserve has been trying to maintain a false level of value in government securities. “And that false level of value in financial assets as a whole is beginning to fall apart; the Fed is losing control.”

According to the economist, the coronavirus has accelerated the dollar-printing. More than $2 trillion was announced by the Federal Reserve in just the last week, and the amount of currency that is going to be issued in the next two to three months is “far larger than anyone suspects.”

Macleod noted: “By the end of this year we should not be surprised to find that not only has the whole industry of financial assets collapsed, but the fiat currencies have gone with it.”

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

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