“The world has come to a paradoxical situation in which the creditor countries are more concerned with the fate of the dollar than U.S. authorities themselves.
Thus, the evolution of the U.S. dollar’s reserve role in recent years has given ground to some quite pessimistic forecasts, based on rational economic theory. It’s no wonder that the number of people who have held assets in dollars and now wish to diversify them partly into gold — the traditional shelter from inflation and political adversity — is steadily growing.”
No, the quote above was not made by a “crazy” gold bug, it was not made by a doom and gloom forecaster that feeds off the fears of his readers. This comment was made by none other than a Central banker.
Before you jump up and down and get too excited, take a breath and realize who made this comment. The above statement was just a snippet from a long presentation given by Oleg V. Mozhaiskov, Deputy Chairman of the Bank of Russia.
This post was published at Sprott Money
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