“But the credibility of both western governments and their currencies is waning, and has been ever since the gold standard was abandoned in 1971, says Mr Paul. And that means even ‘safe’ investments are far from safe, he claims. . . .
Unfortunately, cashing out will not protect the value of investments, he insists, because ‘fiat’ currencies will all decline over the coming years as measures to try to haul the world economy out of recession fail. ‘The current stimulus measures are making things a lot worse,’ says Mr Paul.
‘The US government just won’t allow the correction the economy needs.’ He cites the mini-depression of 1921, which lasted just a year largely because insolvent companies were allowed to fail. ‘No one remembers that one. They’ll remember this one, because it will last 15 years.’
At some stage – Mr Paul estimates it will be between one and four years – the dollar will implode. ‘The dollar as a reserve standard is done,’ he says. He sees little hope for other currencies where central banks have also created too much liquidity dating right back to the early 1970s.” (Read more from infowars.com)