From Peter Reagan at Birch Gold Group
![](https://www.birchgold.com/wp-content/uploads/2023/08/dollar-monopoly-failing.jpg)
In what is now a ten-year-old interview, Jim Rickards shocked his audience. Sadly, his controversial views then might be considered good news today…
After being pressed about his somewhat extreme economic predictions, he added some context:
The international monetary system has actually collapsed three times in the past 100 years. It collapsed in 1914, again in 1939 and most recently in 1971. And each time it wasn’t the end of the world, it didn’t mean that we all lived in caves and ate canned goods.
Two of those three collapses were caused by what we now call World War I and World War II. You know what that means so I won’t belabor the point.
His 1971 reference is shorthand for the U.S. move off the gold standard, which, granted, “wasn’t the end of the world.” Simply the beginning of a decade of high unemployment, high inflation and permanent damage to the global prestige of the nation.
We may be on the cusp of a fourth revolution in the international monetary system. Before we explore that, let me take a moment and explain exactly why it matters.
Continue reading “The U.S. Dollar’s Monopoly Is Not Going Well”