I follow Schiff and Celente. Both predicted currency crisis but it has not happen yet because the combined coordination of national central banks and major international banks have been able to stave off the crisis, buy time for the economy to recover. Problem is the economy has not recovered, China is slowing down, Europe in depression and God knows where Japan will end up when she double down on her QE.
IMHO Schiff got the macro situation correct on the US currency but he does not have full grasp of the timeline because of massive central bank and large bank coordination/manipulation to avoid collapse. This is actually a blessing in disguise because it allows more Americans to learn about the situation and do their best to prepare. The drop in metal prices allow me to buy and stack some more, buy more prepper supplies.
Yuan will take time to take hold because most of the world institutions are geared to handle US dollars and US dollars are widely used. China will take her time to chip away the usage of dollars and establish her alternative Yuan system. It is possible by the end of the 21st Century the world may have two Reserve Currencies.
Problem is the economy has not recovered,
.....
Go to Texas oil fields in the permian basin and Eagle Ford, and you’ll find the kind of economic activity that frightens bears.
oh that economic activity also will keep the US economy from rolling over too. the economy won’t be strong. but it won’t go belly up.
It is possible by the end of the 21st Century the world may have two Reserve Currencies.
I think the world moves much faster than that now. I'd say 20 years, and I'm not sure the dollar will be one.