JIM ROGERS BLOG: The World's Savers Are Being Wiped Out, And History Says That Leads To Very Bad Things
When it comes to social phenomena you cannot apply the disciplines, logic, devices, rules and observations of science - these are concrete constructs. Social phenomena deals with abstract constructs but uses scientific methods to create stories (a.k.a. Theories) about what reality is - whereby, those who are most persuasive will form the accepted consensus of a perception that is the social reality. But, it has nothing to do with what reality actually is.
So Jimmy is right, the US dollar wins by default until the social perception changes and we move to a more persuasive perception of what reality is - and that change in perception can happen at any moment.
So, its always far better to be lucky than to be smart. A dose of reality?
Dr Peter G Kinesa
March 11, 2013
P.S. You see what us smart guys know is that all currencies eventually gravitate to a debasement of zero, as their underlying geographical resources and infrastructures expire. That is deterministic physics. However, quantum physics now overrides this theory, with its random coexisting realities - so it is again; logically, still all about luck. Science? PK.