If Dollar Dies, Most Choose Gold as the Replacement
By Paul Bedard, Washington Whispers
It hasn't been a dominating issue since the 1896 election of William McKinley versus William Jennings Bryan, but the gold standard might be making a comeback. The reason: If the slumping dollar is junked as the global trading standard, Americans think that gold is the best replacement.
In our latest Washington Whispers-Synovate-eNation poll, 49 percent chose gold when asked: "Which form of currency would be best if the world rejects the U.S. dollar as the standard for oil trading?"
Second was the euro, at 37 percent, recognition of the European economic powerhouses that use the united currency.
Leading the laggard choices was carbon credits at 9 percent. But maybe in a sign that Americans aren't pleased with China holding so much U.S. debt, the Chinese yuan came in last, at 2 percent. And that was bested by another Asian currency, the Japanese yen, at 3 percent.
The Whispers Poll
Which form of currency would be best if the world rejects the U.S. dollar as the standard for oil trading?
- Gold: 49%
- Euro: 37%
- Carbon credits: 9%
- Japanese yen: 3%
- Chinese yuan: 2%
Source: The Synovate eNation Internet poll was conducted October 22-26 among 1,000 nationally representative households by global market research firm Synovate.
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Reader Comments
Funny, the enemies of the US feel the same way
Around the globe they are now dropping dollars in favor of gold. The only ones who can't see the writing on the wall are those spending the inflated paper from Washington. Everyone else recognized it's worthless, the crooks (Congress) in DC have lined their pockets and destroyed the country from the inside out. I hold silver and gold, keep your paper.
Mark
http://www.twitter.com/dgcmagazine
Addison...
You're joking right?
I'm only aware of printing presses for fiat federal reserve notes (not to mention all the other debt creating papers of the world).
There is a reason our founding fathers insisted on gold as money.
One of the best things we could do today is to legalize competition in currencies. The Fed has a monopoly on printing the money we the People are forced to use. We can't forget that competition is a key ingredient for a successfully functioning free market. If we do this, Liberty is right around the corner!
view of asia
The author is perhaps mistaken regarding japan/china holding our debt being a reason for low valuations... remember when they didn't hold our debt their valuation was in all likelihood low any way. More logical is that the japanese of past and chinese of now are actually CORRECT and know more about their currency than we know. They realize they must defend their currencies from runs and hyperinflation as suffered by other 3rd world countries before them (mexico, brasil, etc.) by exporting and earning foreign currency reserves.
And we criticize them for that, for being right, go figure. As shown by this poll and naysayers, their currency is possibly overvalued rather than undervalued. They can't win, we'll criticize them no matter what.
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