Please Mike...you predicted a far worse outcome than that which actually transpired. The metals have been quite shaky as of late and their downward spiral could very well occur before a stock crash,especially if the Euro continues to slide,further strenghtening the dollar and it's consequent long term stay as the definitive reserve currency.
I can think of no event which will reverse the US dollars course as the dominant world currency.
I predicted a far worse outcome because I never expected that the Fed and the Congress would throw $21 Trillion to maintain an obviously failed system. My mistake. They have only made the inevitable collapse worse by orders of magnitude.
Metals shaky? Maybe in your universe, but not in mine. Metals cannot default, and are highly resistant to debasement, both of which are of paramount importance in this day and age of fraud, violation of contract law and crony capitalism. No prosecutions for Lehman? How about Corzine and MF Global? I suppose theft is OK as long as those doing it wear a suit and have political connections.
As to the FRN$ remaining the world's reserve, here are a couple of "think" pieces for your reading pleasure. It's hubris to believe that just because something has been one way for a long time that it always will be. It's also called normalcy bias, and is endemic in today's world. People and countries are moving away from the FRN$ because they can do math, something that our politicians and state economists seemingly cannot fathom. The math doesn't add up when you look at debt and liabilities and our productive capabilities and assets. There will be a reckoning, and it will be harsh. Telling yourself that it will never happen is to live in denial of reality.
http://www.zerohedge.com/news/guest-post-chinese-chaos-immediate-threat-dollarhttp://www.zerohedge.com/news/china...cross-rate-system-will-transact-directly
