Paul Craig Roberts – Dollar Should Be Reduced Already to Toilet Paper

Craig Roberts, founder of PaulCraigRoberts.org
On holding physical gold and silver, economic expert and journalist Dr. Paul Craig Roberts, who holds a PhD in economics, says, “Anyone who has surplus funds should be holding gold and silver because the dollar should be reduced already to the level of toilet paper. The Federal Reserve’s balance sheet has exploded. It’s grown so much. So, you have this massive increase in supply of money, but not in goods and services. The reason we are not experiencing hyperinflation is not much of that money got into the economy. It went into financial assets and bid up stock prices, bond prices and real estate prices. . . . If the world turns on the dollar, the Fed is not going to be able to sustain it. Gold and silver have always been money. . . . If people don’t want the currency because it’s worthless, it’s nice to have something to engage in trade with until some new monetary system can be formed. I think it is very reckless to abuse the dollar the way it has been abused.”