By Fiona MacDonald
Proactive Investors
It’s simple, says Douglas MacQuarrie, president and CEO of Vancouver-based, Ghana focused junior gold explorer and developer Asante Gold Corp.: gold has great days ahead of it, while the greenback, on the other hand, is on its way out.
“Empires never last forever,” says the four decade mining veteran. “The U.S. is on a decline; China, Brazil, India — the BRIC countries — are all on a gain. Thirty years ago, Japan, the U.S. and Britain made up more than 80 per cent of world GDP; today they’re less than 40 per cent. These are long term trends.”
And in the years to come when the American dollar will no longer bestride the financial markets like a colossus, what does MacQuarrie consider likely to be the currency to take over as the arbiter of value?