When I say that, I specifically mean a collapse in confidence in paper currencies around the world. It’s not just the death of the dollar or the demise of the euro. It’s a collapse of confidence in all paper currencies.
Over the past century, monetary systems have changed about every 30–40 years on average. Before 1914, the global monetary system was based on the classical gold standard.
Today, the existing monetary system is over 50 years old, so the world is long overdue for a new monetary system.