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Just cannot see eye to eye with Jim on the collapse of the US dollar, albeit the financial calamity is more or less a hangover from the 2008 Meltdown and remains plausible. Indeed we had forecasted such a collapse two years back, by 2020. Bonds yes; but a currency short is fraught with too many pitfalls.
There are many reasons behind the likely stability embedded in the US dollar in such times. Two are big ones. One, it will simply win by default because other currencies that are competitive, in any significant way, should be that much worse off in the turbulent economic times ahead. Remember, the US is a Hegemony with about 60 -70% of the world's resources and economies within its influences and/or control. There is little else in terms of a viable surrogate exchange media that could handle the global financial volume and liquidity needs as well. Former communist countries have huge credibility issues to overcome to garner any trust for this role.
But most importantly - they have bigger GUNS! In the end, that may be all that matters.
First Financial Insights
August 22, 2013
Pentagon 2020 Outlook: Continues to See Strong US Dollar