peter schiff tells it like it is, page-12

senoj

with respect, you missed an important point that Peter Schiff raised - the idea of other nations de-pegging from the USD - in which case the China dollar or some other strong currency becomes the standard for trade and financial systems - the USD's value then simply goes through the floor, and THEY suffer domestically because they will have a weak dollar compared to some other chosen substituted and stronger currency - countries like ours then simply switch from writing contracts and particularly trade contracts in USD, to instead the Yuan for instance - because Australia has a relatively strong economy we can change to trading in Yuan for instance, because we would have a good exchange rate with the Yuan after it de-pegged from the USD

what people have to remember is that the USD has only been around for just over 200 years, and it wasn't until the 1940s that everyone moved from the gold standard to pegging to the USD - so it's just an immature currency that has run its course and no longer has value - so we need to move to another country's currency that can properly pay it debts using that currency - and that's what this is all about - the USD is only being printed at ever increasing rates now to pay international debt - print too much paper and the the people owed the debt (other nations) are being cheated out of their margin for lending in the first place, because there is soo much US currency around it looses it value - it becomes quite literally good for toilet paper