In MarketWatch's call of the day, former Goldman Sachs hedge-fund manager Raoul Pal said the dollar was the world’s “biggest problem” and that the signal to sell equities was coming soon.
He said the narrative that the Fed printing money would causes a dollar collapse was “very wrong.”
The chief executive of Global Macro Investor, who predicted the 2008 financial crisis, said: “You see the biggest problem the world faces is the dollar. We are in a viscous doom loop where slowing growth causes the dollar to rise, which causes slower growth, which causes the dollar to rise, as all borrowers play musical chairs to get access to the dollar to service debts.
“Dollar swap lines, QE, jawboning, etc. have done nothing to stop this,” he added in a post on Twitter.
He said no printing of money — by the Federal Reserve — would solve what he described as a “structural” problem. “All attempts to create more money to solve the dollar standard issue tend to devalue all fiat versus gold. Gold is rallying on debt deflation probabilities.”
Former CIA and Pentagon Advisor: “Millions of Americans are in DANGER!”
America could be facing a catastrophe that will catch most people by surprise…
And no, it’s not the coronavirus.
But this historical event will change America forever.
Most Americans have no idea what’s about to hit them in the coming days.
Which is why I’m urging Americans to take these 5 steps right now.
Click here to see them. (Hint: one of these steps could protect the lives of your loved ones)