China and Russia look like they could already be turning their backs on the dollar. Brazil and India have complained about the printing of money and the disastrous effects on currencies. They could also be turning their back on the dollar.
I am not so sure that the dollar will remain in the same high esteem as the market has historically given it.
In the broad stock market, things have not started to change just yet, but we are starting to see some cracks appear. Housing numbers have been quite weak. We’ve seen tech stocks come under attack. Some of the major banks have warnings on their trading levels going forward. Those stocks seem to be breaking. So the generals are coming under pressure.
I’m not sure when a decline will start happening, but I feel safe in predicting that within 24 months, the value of these stocks will be much lower than today. I don’t think it’s nearly as safe as the banking interests would tell you.
- Source, Eric Sprott via Sprott Money