Friday, 6 Nov 2009 – The dollar will get “utterly destroyed” and become “virtually worthless”, said Damon Vickers laughingly, chief investment officer of Nine Points Capital Partners. Due to the huge wage disparities between the United States and emerging markets like China, Vickers said that may resolve itself in some type of a global currency crisis and New World Order.
“If the global currency crisis unfolds, then inevitably you get an alignment of a global world government. A new global currency and a new world order, so we may be moving towards that,” he said.
As he points out, their hedge fund makes money on the way up and on the way down so he seems to care very little. “This is the time to play ping pong.” “This is the time where you make money…”
1:44, 2:50 – Listen to the CNBC correspondent laughing at the dollar will be destroyed
2:53 – “How do you create a global marketplace so that the standard of living is not so great.”