Chris Wood: In 5 Years Dollar Paper Standard Will Collapse

Chris Wood on CNBC said that the financial and banking system is bankrupt. The losses have been transferred from the private sector to the public sector through government guarantees. (This of course all thanks to the Fed and the Goldman people at the head of the Treasury). eventually sovereign debt problems will start in Europe and end with a big finale in the US with the US dollar system's collapse. This is what Ponzi Finance has been saying for quite a while now.He, too, says that people should own gold bullion and gold stocks in addition to Asian equities. Ponzi Finance agrees on gold bullion and gold stocks and certain Asian equities, but we have our worries on China being a bubble. However, China dumping treasuries or revaluing Yuan could end up increasing the value of Chinese stocks despite the bubble in them, in dollar terms. Like Ponzi Finance he has more faith in Japan than most other people. He mentions that 95% of Japanese debt is held by the Japanese. Most people do not understand that this is a huge difference for the Japanese and puts them at a better shape than other countries including the US.

The below is the CNBC video. Feel fre to disregard the arrogant and annoying CNBC hosts that do not like what Mr. Wood has to say.