I do agree that dollar is going to loose its value, but it is not going to happen soon. It seems it is a bit too hyped. Gold itself is at a high price now.

Wow! I’m glad that Mr. Schiff doesn’t run NASA. Hubble would never have been fixed. I did get a good laugh at his stress testing of the bridge with gerbils. I hope the Corps of Engineers, who built the levees around New Orleans that failed in Katrina, doesn’t hear of that testing method, as they might adopt it. Of course, currencies have value relative to each other. That relationship is more important than the value of gold, since most currencies are fiat money which people accept as valuable. Since few people have gold to use as money, the dollar will remain in use, even if its value vs. gold falls by a huge amount. The current financial crisis is far from over. Millions of home loans will soon begin to reset at higher interest rates. The unemployed will run out of money and default on loans of all types putting more downward pressure on real estate prices & banks. Huge commercial loans will keep defaulting for another 5 years. Peak oil looms, which will make this current crisis seem trivial. And we have the unfunded liabilities of Social Security, Medicare & Medicade in the trillions to consider. So yes, in the long run, the dollar is in trouble and I expect substantial inflation. One thing I can say about this site is that it doesn’t have too many fluff stories!

Peter is right. It’s axiomatic that supply and demand applies to all things, and the unit price of the dollar will decline as its supply increases.

Other currencies are being devalued at or about the same rate (per the G-20 deal), so this means hard assets (gold, silver, oil) will rise in price against all fiat currencies.

Manipulation of CPI, fake “stress tests,” phony deficit accounting, unfunded obligations, and quantitative easing all mask the severity of the underlying problems. Thus, when things fall apart as a result of loss of confidence, it could happen quickly.

Why would China not hedge its bets in the commodity markets, then pull out of U.S. dollar assets?

Our leaders, reflecting short-term election and financial cycles and American’s unwillingness to be self-disciplined, have in a very short time laid the groundwork for the destruction of the greatest nation that ever was conceived.