I'm not sure what I'm supposed to address. I was describing fiat currency and don't see that you disagreed so much as thought it was all bad coz big gubmint bad, gold good etc. Opinion noted ..yawn. I've no reason to think the dollar or the pound will collapse, but think the euro might for reasons having nothing to do with gold or oil. The currency where I live is neither pegged to the dollar nor backed by oil, and was forced off the gold standard about 90 years ago by recurrent deflations and speculative attacks .