For US$ you can buy US$ of goods and services. This is a sound basis for a currency. We have a financial panic at the moment and this only impinges on the real economy if it inhibits trade and investment. At the moment the US exporters are going gangbusters and offsetting declines in consumer spending. This does not mean that portions of the US are not already in recession. It also means that foreign investors are buying up chunks of US industry.
Don't forget the A$ was 55c US some years ago.
A return to the gold standard is a recipe for financial disaster as Winston Churchill discovered many years ago.
if youre really after doom and gloom ..., page-4
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