Jacob Rothschild: Replacing Dollar with Gold for Coming Economic Crash
Jacob Rothschild, a British investment banker and a member of the prominent Rothschild banking family, recently announced his plans to buy vast amounts of gold as a warning to bankers that the world is now in unchartered waters. Lord Rothschild sees trouble on the horizon for the West, and has reacted by replacing dollars with gold.
Rothschild notes that despite the rapid rise of stock markets, this growth cannot last forever, as the real sector remains anemic with weak demand and deflation in many developed countries.
Meanwhile, the geopolitical situation is not getting easier. China’s economic growth has slowed down, the election atmosphere in the US remains fraught and the conflict in the Middle East continues to rage on. Germany, France and the US have been subjected to terrorist attacks. To complicate matters further, the UK voted to leave the EU.
Rothschild has signaled that he is shifting from sterling (in anticipation of Brexit) and the US dollar to gold and “other currencies.” By the end of June, Rothschild’s company had increased its gold and precious metal assets to 8%.
Rothschild’s concerns clearly indicate that the global economy is heading to a perfect storm due to the irresponsible monetary policies of Western central banks.
Although US President Barack Obama has repeatedly stated that the financial crisis of 2008 was over due to the Federal Reserve’s effective monetary policies, this is likely wishful thinking on his part. The Fed’s policies resemble nothing so much as a dangerous worldwide experiment that may soon bear its bitter fruit.