I am considering the bet on gold with respect to his logic. This logic goes simplified as follows(at least as far as I understand).
US government has debt(to creditors in terms of bonds and its people in terms of different obligations). To meet these obligations they'll print dollars which in turn will devalue the dollar.
Is he saying that the dollar might loose confidence and value and that this in turn might lead investors and other governments to gold as the reserve currency status takes a hit due to the printing.
I am not asking if this will happen just if this is his logic.