Yeah, and you'll notice he said "not silver and gold".

I doubt what he's talking about is going to collapse $USD. After all, that's not what the Fed tries to do.

Though it'd actually be fantastic for the US if their dollar collapsed - they could eliminate their trade deficit, and US companies would become much more competitive overseas. That's about the only way you're going to see the US debt eliminated (well... aside from raising taxes to a sustainable level).