jim willie comments on the economic forum in davos. he expects the dollar will be replaced as the world's reserve currency by a basket of foreign currencies. he notes that gold has already broken out against all currencies except the dollar.

today gold traded above us$1000, so it looks like a breakout in dollar terms may not be far off. i expect silver will trade higher along with gold for the next few months. depending on how high the metals run through april, i think we could see some kind of sell off in the summer, but right now is not the time to be selling precious metals or mining shares.

HOSPICE FOR US$, LAUNCH FOR GOLD

The USDollar is essentially dead, the Davos Forum its funeral wake. It is enjoying a physical erection in the medical morgue, a rise in a death dance ceremony. US leaders refuse to accept the reality. They desperately need its continuation for assistance in funding the USGovt monstrous deficits. Western leaders struggle to admit the reality. Russian leaders, Chinese leaders, and Arab leaders (more quietly) openly admit the reality. Read the billboards, as the Davos Forum offered an entire row of them to observe. THE BEST STRESS METER IS NOW GOLD. Notice how gold rose all through the Davos Forum gathering. Nothing was solved. The Putin Blueprint for the ‘Post-US World’ shook up the currency markets, as gold reacted. The gold price is breaking out in all major currencies, except in USDollar terms. It just hit a new euro high.

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