Gold price hits record high on 'plan' to ditch dollar
This is certainly not good news for the United States.
"The dollar weakness appears to be related to ... (reported) secret talks about oil being priced in a basket of currencies including gold rather than the dollar, which has added to concerns about the future role of the dollar in international financial markets."
If countries start to abandon the dollar, watch for inflation to go through the roof.
UPDATE: I didn't really have time to write what I wanted to yesterday, I've been very busy. I'm still busy, but what the heck. This article is basically a sign of things to come - people, companies, and countries losing faith in the value of the dollar. When people buy oil with dollars, the oil producing country gets paid in dollars. As the dollar continues its decline in value, the dollars they hold become worth less meaning they want less of our currency, and more of other currencies which may include gold. As the dollar continues its decline, in order to get people to accept it, we'll have to offer them more. The more money we create, the bigger this problem becomes. Thus, inflation.