Quote from DrPepper:
Bingo.
Bush's initial $700 billion bank bail-out plan in October of 2008 in response to the financial crisis was purely a reflexive response to ensure that the next great depression did not begin on his watch.
However, when Obama got in office, it became apparent that there was no way out of this financial mess. So Bernanke decided to keep interest rates at or near zero and print money, not to solve our financial problems, but to avert a financial collapse. Once other major governments realized what the US was doing, they protested and called for a new world reserve currency to replace the US dollar:
http://www.bloomberg.com/apps/news?pid=20601087&sid=aeFVNYQpByU4
There may already be a secret agreement to initiate this new world currency, but the governments cannot let the people know or they would start dumping their fiat currencies in favor of gold and silver. Since China holds so many US dollars, they are certainly in on the agreement as well. I do not fully understand how the Chinese Yuan is valued relative to other currencies, but I believe that it is being manipulated by China to be undervalued, which is why China is telling their citizens to buy gold and silver, which they will then be able to trade for the new world currency.
However, the fact that a lot of countries now appear to be in worse financial shape than the US and that the US dollar is rising in spite of how many have been printed, has likely put the new world currency plan on hold.
However, if the US experiences further economic problems this year, like another wave of real estate foreclosures, and if the US cannot finance further bailouts because the bond market collapses due to a lack of buyers, that could raise the spector of US default, which will lead to the institution of a new world currency.
I think you nailed it 100%

