Former Assistant Treasury Secretary Dr. Paul Craig Roberts says new Trade deals with the EU and Asia are meant to backstop the dollar.
Dr. Roberts contends, “Washington is arranging that many countries have a stake in supporting the dollar. That frees them from the consequences of the printing press for now and a number of years.” It may already be working as Roberts points to the recent plight of NSA leaker Edward Snowden. He says, “Snowden tells the whole world the Americans are listening in on your every communication. You have no privacy whatsoever from the Americans and, yet, nobody will step forward and give him asylum. . . . They’d rather have American money than defend the guy who brings them the truth.” Not every country thinks the U.S. will be successful in saving the dollar. Dr. Roberts points out, “China is importing a tremendous amount of gold. They seem to not have much confidence in the longevity of American plans.” Even so, a dollar crash might be pushed back. Dr. Roberts contends, “They can put that off for a long time if these various schemes work.” And if they don’t work? Roberts says, “Well, there’s going to be a big blowup. I think there will be a big blowup anyhow.” Join Greg Hunter as he goes One-on-One with economist Dr. Paul Craig Roberts.