"But that was not my point. My point is that your point (2. Massive dollar devaluation would trigger chaos in world markets.) is and has already been happening for the last 10years."
I agree that the value of the US dollar has declined significantly since 2000. But this "massive dollar devaluation" didn't trigger chaos in the world markets.
The chaos (we now call the GFC) was trigger by collapsing valuations of residential mortgage assets.
By the way, that "massive dollar devaluation" doesn't seem to have forced the US onto the Gold Standard. LOL
