While many still refuse to believe it, financial experts and insiders have long warned that a collapse of the U.S. currency is a mathematical inevitability.1,2 The most surprising thing, really, is that it has lasted this long. The same can be said for the financial system of the world as a whole.
Collapse Predictions Go Back More Than a Decade
In 2011, Business Insider warned “the dollar collapse will be the single largest event in human history,” touching “every single living person in the world.”3 They also warned that “The collapse of currencies will lead to the collapse of ALL paper assets,” and that “The repercussions to this will have incredible results worldwide.”
That same year, liberal billionaire George Soros echoed the same warning, saying “We’re on the verge of an economic collapse.”4 The main difference was that Soros predicted the collapse of the Euro. Soros also noted that:5
If society collapses, do you have the medical supplies you need? Check out “The Medic,” or as I like to call it, the Big Daddy of first aid kits.
“It’s a kind of financial crisis that is really developing. It’s foreseen. Most people realize it. It’s still developing. The authorities are actually engaged in buying time.”
So far, authorities have successfully “bought time,” holding the system together with proverbial duct tape and paperclips. But eventually, time will run out and the system will fail. To quote Ayn Rand, “You can ignore reality, but you can’t ignore the consequences of ignoring reality.”
In 2013, investment adviser and financial strategist Michael Pento warned:6 “Our addictions to debt and cheap money have finally caused our major international creditors to call for an end to dollar hegemony and to push for a ‘de-Americanized’ world.”
That same year, Canadian billionaire investor Ned Goodman also predicted7 that “the dollar is about to become dethroned as the world’s defacto currency,” that we were “headed to a period of stagflation, maybe serious inflation,” and that “the United States will be losing the privilege of being able to print at its will the global reserve currency.”
More recently, in June 2020, economist and former Morgan Stanley Asia chairman, Stephen Roach, told CNBC:8
“The U.S. economy has been afflicted with some significant macro imbalances for a long time, namely a very low domestic savings rate and a chronic current account deficit. The dollar is going to fall very, very sharply9 … These problems are going from bad to worse as we blow out the fiscal deficit in the years ahead.”
Don’t Expect a ‘Soft Landing’
All of last year, even as inflation started rising before our eyes, authorities denied that things were as bad as they seemed. Inflation is transitory, they said. It wasn’t until May 2022 that Federal Reserve chair Jerome Powell finally admitted that executing a soft landing may be beyond the Federal Reserve’s con…