- Fabian Calvo: World Reserve Currency in Line for Next Crash!
by Greg Hunter’s USAWatchdog.com
Real estate expert Fabian Calvo says forget about the Fed’s recent announcement that it was ending its QE, or money printing program. Calvo contends, “Anyone who thinks the Fed is not somehow fueling the money printing through currency swaps taking place in Japan or in Europe right now is just fooling themselves. This economy has not gotten any better. The only thing that’s changed is the unprecedented scale of the money printing that is being injected into the economy.”
So, why is the U.S. dollar gaining in value against other currencies? Calvo says, “I actually think the dollar rising is another huge manipulation forward, and I think it is a last ditch effort by the Fed to keep the dollar as the world reserve currency. So, that way, you will have a lot of people with this race towards the bottom which will continue to devalue their currency in order to make their exports cheaper. Ultimately, this ends really, really badly. I don’t really believe this so-called bull run in the dollar is anything but fabricated, just like the rise in stocks or the rise in real estate prices. I think Japan unveiled, just last week, historic quantitative easing. . . . It’s unprecedented in the history of modern economics. Japan will go down as well as all of these other currencies that are being printed into nonexistence.”
As far as recent bad news coming from the U.S. housing market and recession fears in Europe, Calvo says, “I think this is part of the conditioning and setting the precedent for the Fed to continue to inject liquidity around the world, particularly in the West.” Calvo, whose company buys and sells $100 million in real estate annually, goes on to predict, “I think when the next crash happens, it’s not just going to be the stock market or the bond market that’s going to be on the line. It’s literally going to be the world reserve currency on the line. That’s what I talk about in my book ‘The Global Economic Reset.’ The West and the western banking systems are doing everything they can, and they know that event is coming. They are doing everything they can to control it before it becomes completely unraveled.”