"Russia and China Will Lead the World Back to the Gold Standard" The Keiser Report
Russia & China will lead the world back to GOLD STANDARD, investment manager tells Keiser Report
20 Aug, 2020 12:18
In the latest episode of Keiser Report’s annual Summer Solutions series, Max and Stacy talk about governments’ endless money printing and a global hyperinflation in fiat currency.
They talk to investor Lawrence Lepard about all that’s happening in the global economy, asking him what will come next.
Lepard explains that the process of fiat money collapse is currently underway and that gold, property and productive assets like manufacturing factories can be used to rebuild the economic system.
According to him, “a combination of China and Russia would be the two countries that will lead us back to having a currency backed by precious metals.”
If you look at the behind-the-scenes purchases, Lepard says, “I’m sure that China has multiples of what they report in gold reserves, that they probably got 20,000+ tons of gold reserves.”
He adds that “Russia is actually in a very-very good position: they have very low debt, they don’t run large deficits, etc. They got a very large natural resource economy as well.”
“And as a result, it would not surprise me at all when the things come crashing down that the first two currencies that go to a gold backing are China and Russia. So, I think those two countries have been playing a very long game on the currency side and will benefit as a result of having done so,” Lepard reckons.
https://www.rt.com/business/498523-russia-china-gold-standard/