User 101825

Fading Glory: The Dollar as the World's Reserve Currency

Is it possible the maligned USD may become the currency backed by gold?

When gold dropped to under $300 and the world embraced the "strong" USD perhaps gold was quietly being re-purchased. When, finally, an audit is done on Fort Knox it may well be there's a lot more there than suspected and a "gold-backed" new USD will arise, like a phoenix, once again.

Debts, of course, will be in "old USD's" and left to fend for themselves.