Originally Posted by DWB

The US already has the largest gold reserves in the world.

I think at least a partial backing will have to happen. Maybe even other commodities as you suggest, or a mix of them. Something will have to give, as the current ponzie scheme we're in has no other long term outcome but collapse. Maybe not next year or maybe not in 10 years, but sooner or later the make believe merry-go-round is going to stop.

We've only been off the gold standard for 40 years, which really isn't a long time. Before that it was off from 1933 - 1944, but they went back to it and kept it there until 1971. Time to go back (to something) and lose the fiat currency.

In regards to China and South Africa being the largest producers, I guess the Americans will need to get back to mining, and fast. I'm sure there is still plenty of gold in them there hills!