Yesterday, Secretary of State John Kerry responded to a question about the possibility of the U.S. backing out of its recent deal with Iran. Kerry said, “that is a recipe very quickly, my friends, business people here, for the American dollar to cease to be the reserve currency of the world, which is already bubbling out there.”
Two very important points from this comment:
- Kerry, a high-level government official, is predicting a dollar crisis if the U.S. reneges on its negotiated deal with Iran.
- Even more interesting to observers like myself, Kerry just acknowledged that “dollar crisis” rumors are out there amongst other world leaders.
As our friend Doug Casey has advised, make as much money as you can as fast as you can, because when this thing implodes, it will be of epic proportions. Is a dollar crisis imminent? I don’t think so. I think we have a few years at least, however, nothing lasts forever, and the fundamentals for the U.S. currency are horrible.