Obfuscation is also a "wonderful" thing and will work until it doesn't. Of course the dollar is based on confidence. It's confidence in the United States of America, its people, its economy and its government which backs each dollar with "full faith and credit." The American economy is stronger than you think and people's confidence in it greater than you realize. Your announcement of its death, like Mark Twain's obituary notice, is greatly exaggerated.
Yet, if you have no confidence in the US economy then feel free to flee to an asset of lesser value, such as gold.
But keep this in mind -- by your own logic: The value of gold is based on people's confidence in it. Once confidence in gold is lost so will its value.
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Posted by: gmbetz@yahoo.com
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