I haven’t read Peter’s book but I have some thoughts related to numbers 1 and 2
– the world is in need of a new reserve currency (the US dollar is toast)
– China is the next economic super-power (the US is a dying empire the same way the English empire died at the turn of the 20th century) but the yuan and Chinese financial entities don’t have the economic depth or breadth to back the world’s reserve currency
idea: China backs the yuan with gold and instantly provides the world with a new reserve currency – this would also firmly cement China into its role as the economic super-power of the 21st century
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thought related to above: the world works in cycles – everything cycles from one extreme to another and then back again
the existence of fiat currencies is an example of a cycle – the world goes from extremes where there are NO fiat currencies (every country using commodity backed currency) to the opposite extreme where there are NO non-fiat currencies (every country printing money and claiming it has value by fiat)
we are currently at the ‘no non-fiat currencies’ extreme of this cycle – that’s right, there are NO non-fiat currencies on planet Earth right now (the Euro claims to have 15% backing in gold but the Euro itself is not exchangeable for anything other than more Euros)
I believe that this fiat currency cycle is due for a reversal – as people realize that all of our current financial troubles have fiat currency and reserve banking as their root cause (have any of you realized this yet?), they will increase the pressure to move back to real money (currency backed by something tangible)
China will most likely be the first country to implement a gold backed currency because it will leap-frog them into the lead role on the world’s financial stage
