floata, thanks for the dialogue. No shortage of fairy tales like Timmy G. saying yesterday the U.S. is not weakening the dollar, bwaaaaahahahahahah! He is such a comedian. The Fed is not the U.S. that is for sure. IMHO there is so much debt that the Fed and other Central Banks will end up QEeeeing almost of all of the underwater stuff, saving again the Big Banks World Wide. In essence we already have one currency because most all are derivatives of the U.S. dollar. The coming metal standard will not be a policy change, it will be an event horizon. A logical reaction to the cascade of currency debasement crisis. A new Bretton Woods will be called in desperation to maintain world order. Paper moneies are not fulfilling one of their primary functions as a Store of Value and they can't remedy this with higher interest rates = deflationary depression. As yield is supressed to near zilch and debt is gathered into the C.B.s - Metals will continue up to inevitable, unfathomable, streaking rocket ship stratospheric price levels, so out of control, that the B.W. conference will result in a World Wide Agreement to revalue the currencies based on an issuance of certifiable metal coins/bars, etc. Imagine if a pure copper penny had the buying power we now associate with a dollar and so on up the denomination ladder. The metals would have paper notes associated with them, yes redeemable for the metal but said copper, nickle, silver, palladium, gold, platinum, maybe others more precious, would all toll = a stable world level of currencies. Fractional Reserve would still exist but strictly limited. Dervatives as well but entirely at the risk of the issuer and buyer. No More Opportunity for gigantic leverage and Bail OUTS via fiat money. My view is more optimistic than those who believe the world erupts into total chaos from a hyperinflationary currency mega race to debase. That will have to be stopped at some point and as metals skyrocket they will in effect assume the function of the liquid Store of Value that money should have been providing but could not due to the unconsionable mismanagment of the Central Banks. The, C.B.s will be reduced to the accounting houses they should be instead of the role we were warned by the Thomas Jeferson they would assert as Money Gods. hge
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