Moscow – “There is a currency war raging all over the world and is a huge possibility that the US dollar may crash in it. The ‘real gold in your possession’ will be the only option to recover from the disaster caused by the crash of the US Dollar,” warned renowned analyst Claudio Grass. He also warned that the political and financial powers which were so far vested with the United States and the western countries are shifting to the eastern countries and this could cause major upheavals in the world.
Claudio Grass, an expert on investment in precious metals, talked about the currency war and pointed out its inevitable effects in an interview with a Russian news channel. Grass asserted that the currency war had indeed started globally and said that the US Dollar, which is the global currency at present, could crash. Pointing out that almost 65% of foreign currency reserves of all countries in the world are in the form of US dollars, he inferred that the dollar crash will play a financial major havoc.
The debts in the global economy have reached a level of 230 trillion dollars, pointed out Grass. The political and military scenario is also changing and the Cold War is over. Thus, Russia is no more a perceived threat for the European countries. Therefore, those European countries who had stored their huge gold reserves in the United States to protect them from Russia, have started taking them back to their own countries. Grass noted that Germany, Turkey and Netherlands were among those who have begun to repatriate their gold reserves.
‘After the First and the Second World Wars, the United States emerged as the most powerful country in the world because 70% of the gold belonging to free countries was stored with it. Thus, the US dollar came to enjoy the status of a global currency. But Claudio Grass drew attention to the fact that there has been an altogether different experience in the last 30 years. The central banks of major countries are printing currency notes without any backed-up securities. This has caused major upheavals in the currency sector and has led to instability, reminded Grass.
This economic instability has buried its claws deeper into the world since the recession of 2008 and various countries are investing astronomical amounts in the financial and the property sectors. Claiming that all these problems have been created by the financial systems and that the condition will take a turn for the worse in the coming decade, he added that the crash of the US dollar is inevitable.
To avoid the dire consequences of the crash of the US dollar, there must be real gold in possession and this could avert many threats, said Claudio Grass. The political power is shifting from the West towards the East. This is a part of the regular motion of nature’s cycle. Thus, by claiming that in the current situation investment in real gold will prove extremely beneficial, Grass has raised a word of caution to people all over the world.