Everything Down Except Gold
The following is an excerpt from an interview with legendary investor Rick Rule. Source

Daily Bell: Dollar going up or down long term?

Rick Rule: Long term it is hopeless. Hopeless. I think it is going much lower. It is widely reported that what you are seeing now is a race to the bottom. We have talked about this in prior interviews. The world's reserve currency is still the United States dollar and the United States is still, despite the fact that it is weaker, the world's mouth. We are the consumer that everybody looks to and if the Chinese are determined not to let the Renminbi appreciate too much against the dollar, the rest of the world has no choice but to appreciate.

Japan can't lose her competitive position relative to China in the US export market, so they have to devalue. From my point of view, all currencies go lower. I see the only currencies in the world that don't have a domestic political constituency for devaluation being gold and silver.

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Rick Rule began his career in the securities business in 1974, and has been principally involved in natural resource security investments ever since. He is a leading investor specializing in mining, energy, water, forest products and agriculture. A popular public speaker, Mr. Rule is a featured presenter at investment conferences and resource investment forums throughout the world. Rick Rule has originated and/or participated in several hundred transactions over the past 30 years, including both debt and equity in private, pre-public and public companies. These private placement activities have involved companies on six continents.