Dollar Destruction & A Golden Chinese Currency

Alasdair Macleod and Michael Hudson return as guests on the radio program this week.

Alasdair argues that a dollar collapse is likely to occur by the end of 2020 taking all the synchronized western economies and their currencies down with it. With a dollar collapse China’s interest will shift from supporting dollar strength to owning the world’s reserve currency. But that will require China to back the renminbi with gold. It can easily do so given the vast supplies it has accumulated over the past several decades.

With a dollar decline not only gold but copper and silver will also gain value so that the massive copper-silver deposit in Peru being explored by Michael Hudson’s Hannan Metals may become extremely valuable. He will elaborate. 

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Alasdair Macleod has a background as a stockbroker, banker and economist. He is a Senior Fellow at the GoldMoney Foundation and Head of Research at Goldmoney.  His experience encompasses equity and bond markets, fund management, corporate finance and investment strategy. His weekly articles written for GoldMoney are posted on his blog at https://www.goldmoney.com/research/goldmoney-insights Because of his deep insights into underlying market dynamics, Alasdair is one of the most frequent guests on Turning Hard Times into Good Times.

Michael Hudson is Director, CEO and Chairman of Hannan Metals. For the past 28 years he has developed and financed mineral exploration properties worldwide. He graduated from the Univ. of Melbourne in 1990 with a B.Sc. (Hons 1st) in Geology and received the Tolhurst Noall Prize for “Mining Investment Analysis” in Victoria, Australia for the FINSIA Graduate Diploma. He started his career in 1990 with Pasminco Ltd, the largest global integrated zinc producer during the 90’s, and spent ten years working with zinc-lead projects worldwide from exploration to pre-feasibility projects in Pakistan, Australia and Peru. He has raised over US$100M for primarily European focused exploration and project development in Finland, Spain, Portugal, Sweden and Ireland. Since 2004 he has headed Mawson Resources Ltd as founding Chairman, CEO and Director. He is also a founder and Chairman of Leading Edge Materials, a critical metals company in Sweden and a director of Hydro66 Holdings Corp.

Michael Oliver entered the financial services industry in 1975 on the Futures side, joining E.F. Hutton’s International Commodity Division, NYC. He studied under David Johnson, head of Hutton’s Commodity Division and Chairman of the COMEX.

In the 1980’s Oliver began to develop his own momentum-based method of technical analysis. In 1987 Oliver, along with his futures client accounts (Oliver had trading POA) technically anticipated and captured the Crash. Oliver began to realize that his emergent momentum-structural-based tools should be further developed into a full analytic methodology.

In 1992 he was asked by the Financial VP and head of Wachovia Bank’s Trust Department to provide soft dollar research to Wachovia. Within a year Oliver shifted from brokerage to full-time technical research. MSA has provided its proprietary technical research services to financial and asset management clients continually since 1992. Oliver is the author of The New Libertarianism: Anarcho-Capitalism. 

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