Quote from: TowardLiberty on December 30, 2013, 04:32:03 PM
Well perhaps it won't be the Yuan, but rather an Asian Currency Unit. Or it could be those pesky SDR's.

One thing we do know is whoever has the gold, makes the rules.

As jacked up as the US monetary system has become, there are no better options out there. The Yuan is a house of cards. The Yen has been a sick man for 20 years now. The Euro is on shaky ground due to the way Europeans have coupled their banks to their states. The swiss franc is way to small. All the petro economies are too dependent upon oil prices and the relative health of their export partners (US, China and Europe).

The only thing holding the bubble together now is inertia and a lack of better options. And the really scary thing is that almost everyone is too complacent and obtuse to understand they should be scared.

Quote from: Dan on December 31, 2013, 02:41:36 AM
As jacked up as the US monetary system has become, there are no better options out there. The Yuan is a house of cards. The Yen has been a sick man for 20 years now. The Euro is on shaky ground due to the way Europeans have coupled their banks to their states. The swiss franc is way to small. All the petro economies are too dependent upon oil prices and the relative health of their export partners (US, China and Europe).

The only thing holding the bubble together now is inertia and a lack of better options. And the really scary thing is that almost everyone is too complacent and obtuse to understand they should be scared.

Iran and Turkey have proven that that a gold based petro currency could work. So the idea is that perhaps this is why Russia, India and China are importing so much gold.

Quote from: TowardLiberty on January 02, 2014, 07:19:05 AM
Iran and Turkey have proven that that a gold based petro currency could work. So the idea is that perhaps this is why Russia, India and China are importing so much gold.

Iran's economy is in the toilett and Turkey is living off of low wage manufacturing jobs. It's not a petro economy.

Russia's government will bankrupt if we ever repeal the law that prevents us from exporting natural gas. We could flood the European markets, drop the bottom out of the prices in the european market and utterly screw the russian economy.