masterful,Re your (1), just for the moment, I don't see...

masterful,

Re your (1), just for the moment, I don't see comparative competitiveness as being uppermost in peoples' minds - I think survival and holding onto what you've got is occupying individuals, companies and countries. That is what has changed, I think, from the mercantalism of the past few years. They will all debase, but there will be no "new" reserves coming out of the USA from buying China's products for a few years (as the US consumer is tapped out and panicking). I think China is worried that, in 2 or 3 years, $1trn of reserves will only buy $300bn in today's dollars (maybe less).

Regarding (2), yes I agree that they aren't going to do anything at the present meeting. They're not desperate enough, yet. However, it's amazing how quickly things can happen once the mind is focussed:-

Preparing to rebuild the international economic system as World War II was still raging, 730 delegates from all 44 Allied nations gathered at the Mount Washington Hotel in Bretton Woods, New Hampshire, United States, for the United Nations Monetary and Financial Conference. The delegates deliberated upon and signed the Bretton Woods Agreements during the first three weeks of July 1944.

Maybe later this year, something might actually get done. In the meantime, I still think it's interesting how the dynamics at a governmental level are starting to turn in favour of gold.