Gold and U.S. dollar hegemony
“The possibility of gold reasserting itself as the international medium of exchange continues to increase; but, a lot more bad stuff has to happen before we get to that point. Also, governments around the world have too much at stake to capitulate when it comes to ceasing to issue ‘funny money’. For the time being, let’s focus on things as they are.”
USAGOLD note: I have always put considerations of some sort of great reset on the back burner as pretty much a waste of time. If gold is going to be used in the international monetary system as something other than an alternative reserve asset – which is the way things are headed – it is going to take an agreement on how to value it and how much of it each nation-state is going to own. That discussion – let alone an agreement – is a long way away, so focusing on things as they are seems a much more practical undertaking. Williams offers some solid background thinking on the relationship between currencies and gold – with the dollar as the centerpiece.