This is probably just a lot more of the news hype and misinformation that is so common today. Although precious metals are probably very undervalued, the U. S. dollar will be a mainstay for the foreseeable future. If the U. S. dollar were to fail, it would put the world in a depression that would make the last depression look like good times. If this happens, it won't matter which currency the world is using.

It is only a matter of time before the US dollar becomes just another reserve currency. This was to be expected from the time of the Bretton Woods agreement when The United Nations Monetary and Financial Conference, commonly known as Bretton Woods conference regulated the international monetary and financial order at the conclusion of World War II, in 1944. This conference anchored the foundations of the IMF and the World Bank, the two wings of the system which would allow the United States to control of international currency exchange rates and establish the dollar as the sole reserve currency to be used by countries for international transactions. With the continuous decline of the relative value of the dollar in regard to other currencies, it is no surprise that following the global financial meltdown triggered by the Unites States' controlling role in the international financial institutions, the rest of the global big players were pressed to find other sources of reserve currencies lest they loose all their reserves because of US unilateral and careless financial policies. The United States will have to get used to being just another power among others and deal with the rest of the world not as a privileged nation, but in cooperation with others, even if she still enjoys the status of primus inter paris.

The question for those countries that hold too much of US dollars is: do you want to loose money now, or much more money later. The amount of liquidity in that has been pumped into the US economy is staggering, and there is no plan on how to remove it in the future. In fact, there are no exit signs on this edifice. Therefore, the message from Pittsburgh has been: let's keep on spending more. US can print more money, borrow more money, while the countries with the reserves will need to spend more money stimulating their consumption, and hopefully increase imports. In all this, dollars are being spent in unprecedented amounts to fund military occupations, expanded wars, new security related projects. There is a staggering amount proposed for Pakistan and additional staggering amounts for Afghanistan. And in Iraq, the talk of wrapping that money pit is --- just talk. More money for contractors, corporations and their lobbyists is the order of the day. And the constant hue and cry about the lack of money for health care is getting rather boring. So, when inflation hits, the holders of dollars will loose anyway. Just like ordinary folks, who do not have that much money to loose, worry about the consequences of inflation and are thinking up ways to save themselves, I do not doubt that those who have hundreds of billions in US dollars must realize that the loss is inevitable, but that future bleeding will have to be averted.

The reason the US is so smug is because IT IS the one world government. It is stupid for the countries of the world (BRIC, et al.) to think they have any real power when the US owns them via the same ownership of the American serfs: "money." There is no such thing as money and so the countries pretend there is and that they are "trading." Ha ha, trading what? Oh, that is what it is in the 21st Century which is no different than in the 1st Century up to this time ... .... human flesh. What else is there, in reality, when the exchanges of this and that are everyday needs and then there is only one BIG TICKET ITEM and it is people. Why would the countries of earth pretend to be intelligent when every human can see cannibalism is continuing to be the du jour, forever and ever and the means to play this terrorism theme into eternity? Gosh, golly gee it is "the root of all evil, MONEY."