"u.s. debt default, dollar collapse", page-57

So much hysteria about US debt.

Wikipedia (it actually quotes sources) tells us that the AUS and (especially) the UK have a larger foreign debt.

So how about a bit of hysteria about AUS.

The US will end up stronger because, unlike Australia, it still has some industrial capability. Australia will be in a much bigger mess if the "mining boom" does not return.

Yeah, a large proportion of western countries have been living off the wealth of the surplus nations, and yes as currencies re-align it will be painful.

But none of this is because of conspiracies, just stupid currency traders getting it wrong.

And the goldbugs will probably be proved correct if all this hysteria remains with us for much longer, even if gold is just another commodity to be bought or sold.