US Dollar monetary crisis: Predicted by French General De Gaulle in 1965

Photo portrait of General Charles de Gaulle of the Free French Forces and first president of the Fifth Republic serving from 1959 to 1969 / Wikimedia *

“The US dollar is the world’s reserve currency. Everybody uses US dollars. Nobody knows exactly, but there is about 7 trillion dollars outside of the United States. So this has been a gigantic advantage for the Americans. They can get Sony’s, Mercedes, and everything imported – cocaine – everything imported in at essentially zero cost. They’re paying with dollars, they are printed up. So that’s coming to an end.”  – Doug Casey  (1)

***

Dollar Crisis: February 1965.

De Gaulle:

“The fact that many countries accept as a principle, dollars as good as gold for the payment of the differences existing to their advantage in the American balance of trade, this very fact, leads Americans, to get into debt and to get into debt for free at the expense of other countries. Because, what the US owes them, it is paid, at least in part, with dollars they are the only ones allowed to emit.

Considering the serious consequences a crisis would have in such a domain, we think that measures must be taken on time to avoid it. We consider necessary that international trade be established, as it was the case, before the great misfortunes of the World, on an indisputable monetary base, and one that does not bear the mark of any particular country.

Which base? In truth, no one sees how one could really have any standard criterion other than GOLD! “

DE GAULLE predicted the US monetary crisis in 1965

(1) Transcript from: Michael Levy interviews Doug Casey, by , July 30, 2012

* This image is in the public domain in the United States because it is a work prepared by an officer or employee of the United States Government as part of that person’s official duties under the terms of Title 17, Chapter 1, Section 105 of the US Code.

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