@ cde monomotapa..so Zim ditched their Dollar to the USD? That was a very wise move of the Zim central banker hence the 9.4% GDP.

USD use is a medium term strategy to stablize the economy but I am personally not comfortable with its use beyond that. There are calls to re-introduce local currency and the Yuan is gaining traction there-that helps me sleep better at night.

Speaking Freely Volume 2: Susan George

http://www.youtube.com/watch?v=_viNHVzadeM

Well put,couldn't agree more. Money is just a medium of exchange beyond which it serves no purpose. It is the mortar and brick of economies that matters.

A good article on the concept of the USD vs Gold

http://www.a4architect.c...dollar-as-good-as-gold/

To accomplish this reform, the United States can lead, first, by announcing future convertibility, on a date certain, of the U.S. dollar, to be defined in statute as a weight unit of gold, as the Constitution suggests; second, by convening a new Bretton Woods conference to establish mutual gold convertibility of the currencies of the major powers.

A dollar as good as gold is the way out. It is the way to restore real American savings and competitiveness. It is the way to restore economic growth and full employment without inflation. It is the way to restore America’s financial self-respect, and to regain its needful role as the legitimate and beneficent leader of the world.

Lewis E. Lehrman is chairman of the Lehrman Institute.