bobhwang, I would look forward to seeing China create a reserve currency that is backed by gold. When the US went off the gold standard in the 1970's it was a big mistake and the beginning of the end imo. Future generations will pay for it dearly too.
bobhwang, do you foresee this new gold backed currency to be in the system by 2016. or later? I'm asking because the dollar is starting to take some hits (no below 80.0) and once it goes below 75.0 I think the rate of depreciation will pick up significantly. This could occur as early as next year (or sooner if Russia or China decide to start unloading their US dollars from their reserves in a massive way to then buy more hard assets.
Anyway, good day to you.
P.S. CROC looks to be reacting positively to golds recent price moves to the high $1300's.
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