The End Of US $ Hegemony?

While we all busy with BBQ's over this beautiful Memorial Day Weekend there is a huge story that is not getting any of our collective attention that deserves mention . Only time will tell where this goes and this Bloomberg story contends that any talk of Brazil and China abandoning the US$ as invoice currency is "idle-talk".

Let' see how this develops. If these two countries were to move in the direction of replacing the US$ it would have profound implications for America. I'll leave it to gold-guru Jim Sinclair to explain : ( in this case he is quoting Alf Field's analysis)

Dear CIGAs,
I bring to you the following with the specific permission of Alf Fields.
I have suggested to you often in the past that once the price of gold reaches into its maximum potential it will not repeat the fall of the 1980s.
I foresee gold re-entering the system in a new and unique form that does not include convertibility. It will not be tied to interest rates as it once was in its previous form.
I have written to you various times about the Federal Reserve Gold Certificate ratio, modernized and revitalized, which now may well be associated with an SDR form of an International Central Bank. The tie between the ratio and gold would be a measure of international liquidity considered zero or 100 on the day of adoption.

The following is Alf’s statement yesterday, with his permission to post:

“Gold cannot decline from its highs as it will be incorporated into the national and international monetary systems at that time.” –Alf Fields, May 20, 2009

Now do you have any questions why Fund Wizard Paulson just got long a few billion dollars worth of Gold ETFs and a few major gold producers?
Finally a major event has taken place that is a US dollar milestone.
The financing and extremely important event is the arrangement between China and Brazil displaces the dollar as China becomes the major trading partner with Brazil. Since then the Rial has been celebrating and the dollar has been depressed.
This is a once in approximately a century replacement of a trading currency that has always meant a dethronement of the deposed and coronation of a new currency king.
The last time this happened was when the US dollar supplanted the British Pound as the major trading currency and entity with Brazil 79 years ago.
It took the Brits 300 years to supplant the Portuguese Escudo with the British Pound.
Only twice has this occurred in 379 years. This is obscure to most but not to Mr. Paulson the hedge wizard. Obscure to most, but not to our gang at JSMineset.
The dollar died in Rio and that means everywhere.\
The dollar is in for a very cold winter.
There is one thing that is absolutely certain and that is Gold is now headed to at least $1650 and in all probability much higher. This is happening NOW!
What more do you need to know?