"The dollar is going to collapse", he said.
"The dollar is going to be replaced by gold", he said.
Central banks "are getting rid of dollars", he said.
"They're getting rid of treasuries", he said.
None of that is true.
The nominal broad dollar index remains relatively strong.
Even foreign official ownership of treasuries is up slightly year over year, shifting slightly from long dated securities to short, while total foreign ownership is up solidly.
Meanwhile fiat currencies represented about 78% of the value of total global international reserves yesterday. The U.S. Dollar alone represented about 55% of the value, followed by the Euro close to 20%.
Gold is not going to replace the dollar.
But Peter will be happy to sell you some, especially today lol.
