Why the West is Losing

``Something much bigger is going on nowadays, however, bigger than the fiat currency trading this article (excerpted above) alludes to, bigger even than the idea of a single, global fiat currency. What is going on in our estimation is that the Western power elite itself is struggling and even failing. The Anglo-American axis has had the idea that it could soon, or fairly soon, create some sort of Western-based global governance, but that animating goal seems to be receding faster than a Eurozone recovery...we have maintained for a decade (and now for more than two years on these modest pages) that the world's Pax Americana might simply degrade over time. At some point, China or Russia could decide to start to back their currencies with gold or gold and silver. The movement could spread, a defacto gold standard eventually evolving. It's not something the increasingly desperate elites of the West would seek, of course. Not after spending a century trying to build a Western-style New World Order.''