Categories: General Market Commentary / Precious Metals
Topics: General Market Commentary / General Precious Metals

Will the Dollar Crash at the End of September? Martin Armstrong Calls BS

Will the Dollar Crash at the End of September?

Martin Armstrong

Question: Mr. Armstrong; You seem often to be the guy with the level head when everyone else is losing it. Now we have this doomsday day prediction of the end of the dollar come September 27th to 30th, depending on the guru selling newsletters. They are focused on the IMF simply recalculating the SDR to include the Chinese yuan.

 

You have taught me so much this smells like another con job. I think this is once again going down with the lunatics like Porter Stansberry who predicted the “end of America” if I recall in 2010 and in 2011. There were no riots and food shortages and the dollar is still the reserve currency. I think it would benefit many if you would comment on this.  I realize you would probably prefer to laugh and have a drink of scotch you like so much.

Thanks

FG

ANSWER: Yes, I suppose it’s worth a comment since there are so many people that get sucked into such scams. All of these crazy forecasts of the end of the world have something in common. They are all predicated upon two connected delusions. They typically hate the dollar to start with and this feeds this idea that gold will rise if the quantity of money is increased. This was how they led so many people to lose their shirts from 2011 predicting $10,000 to $100,000 gold all because of Quantitative Easing.


This theory is COMPLETELY AND BLUNTLY – BULLSHIT. Here is gold from 1980 to 1999 when it fell intraday from $875 to under $300 while the national debt rose from about $1 trillion to almost $6 trillion. They will never talk about that and whenever they are forced to say something, they call it a bank manipulation intent on keeping only gold down perpetually to of course support the dollar. Bankers do NOTHING out of the goodness of their heart nor patriotism. If there is a buck to be made, they are there. If not, they will never spend billions to keep gold down with no immediate profit.

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