by Peter Schiff, Schiff Gold:

Billionaire hedge fund manager John Paulson said you’re better off owning gold than dollars.

Why?

Because he thinks the dollar is set up for long-term depreciation as the world drifts toward dedollarisation.

Paulson talked about the dedollarisation trend in an interview with journalist Alain Elkann.

Paulson said the trend is toward dedollarisation, but it will take a while to happen. While the US isn’t the economic powerhouse it once was, it remains dominant in terms of reserves and trade. But other countries, particularly China, have undercut America’s economic power. That is eroding the power of the once-mighty greenback.