"Your Current Handle Does Describe The Twilight World My Beloved Country is enjoying with last Rays of a Setting Sun on the American Empire, somewhat akin to Great Britian at the End of World War I and the end of the Nineteenth Century and the Primacy of the British Pound as The World Currency."

Actually, it's in reference to Nietzsche's "Twilight of the False Gods". But yes, I totally agree with what you say about the death of empires.Nothing to be sad about, it's the way the world is.

"There it is, the wheel that throughout the centuries has been used as a symbol for the vicissitudes of life. Boethius himself, in his great work 'The Consolation of Philosophy', compares history to a great wheel: hoisting us up, then dropping us down again. 'Inconsistency is my very essence', says the wheel. 'Raise yourself up on my spokes if you wish, but don't complain when you plunge back down.'" - Tony Wilson in 24-Hour Party People

So from your perspective, gold is perhaps a good hedge against your dollar's collapse.

(Though who knows, maybe Obama can eliminate $1 trillion in spending by increasing taxes to a sustainable level, eliminating the Pentagon, cutting Armed Forces spending to something more reasonable like 10% of its current level, eliminating corporate welfare, eliminating pork-barrel politics, and... I dunno, maybe devolution of more federal responsibilities to the states so that they're no longer his budgetary problem. Yes, I agree, he won't do any of that. Nobody will. I apologize, but you're pooched.)

And like I asserted in my post to glorieux: gold is as much a fiat currency as paper. Other commodities, yes, have inherent value: sure, toss all your money into sugar, phosphates and nickel, dude! Just don't expect $5000 for gold, unless it comes with a collapse of the USD to, say, 20 cents Canadian.