Peter Schiff – Global dollar standard is going to die

“It’s really a leftover from a different era. The dollar became the reserve currency because we dominated the world financially and economically. We don’t do that anymore. We’re not the world’s biggest creditor, we’re the world’s biggest debtor. We have huge trade deficits, not trade surpluses. We’re bankrupt as a nation; the currency of a bankrupt nation should not be the world’s reserve currency, but it is.”