It is indeed a good read, the following of course is a potential scenario, BUT ... there is no way everyone in the world, Germany, Russia, England and esp France and Italy will fall into line unless China has the same leverage over them ... they will let the US $ and Euro $ die first ....

Count on Gold and Silver to emerge as the basis for all currency. Once gold is revalued to satisfy all (and probably confiscated from individual ownership), the US will again be stronger, BUT there will be no way currency will not be tied to precious metals NONE ... all IMNSHO.

If the US goes 'bankrupt' China will have the largest and most powerful economy on earth. TRUE THAT This will give China the chance to determine the new world reserve currency. NOT SO FAST Though many are hesitant to believe that this might occur, it is a very possible outcome. POSSIBLE BUT UNLIKELY

Flash forward 3 or 4 years from now. The US is in the midst of default. Sovereign debt has expanded to roughly $20 trillion. Interest rates have been on the rise for 6 months to a year. The faltering economy has yet to rebound. The US would no longer be able to make interest payments and would be forced into default. Who better suited to take the responsibility of the world reserve currency than America's greatest creditor and the owner of the largest economy on earth? WHO BETTER ... GOLD AND SILVER ... they alone represent a medium of exchange that represents honest effort through history ... i.e. risk and capital deployment for exploration, mine development, extraction and refining. What can not be counterfeited is honest effort and risk taking and true innovation that benefits mankind. Gold and Silver whether through content based or currency backing is difficult to counterfeit relatively easily transported and has stood strong throughout history as trusted.

Do you think China would sacrifice 2 or 3 trillion dollars (of its reserves) to become the most powerful economy on earth and control the world's currency? YES

orgy