Welcome back. You need to explain how holding EU$, AUS$, etc… can be a “risky” move? Following that RBC guy, you mean keeping clean books, a small deficit or surplus and having access to hard assets is “risky”??? How?

I think you need to add other countries to this list. Basically all the dollar peggers have essentially done QE. Their currency interventions are rarely fully sterilized which is in essence a form of QE. China in particular comes to mind as a country that unofficially pumps a lot of new currency into FOREX.

I don’t think the G20 meeting will change anything. A lot of jawboning. There’s no way competitive devaluation is going to stop. Without it, the dollar would drop like lead. Most of the worlds major economies have no choice but to inflate their way out of their debt mess. The options are that or a massive deflationary depression.

I also don’t believe the IMF is going to sell gold. Gold can’t easily be replaced while fiat currencies can. Gold needs to remain in CB and IMF vaults as an insurance. Actually, let me change that. They may sell gold directly to some central banks. Basically exchange it for currency. It won’t increase the amount of gold in circulation. The gold will remain in the central bank domain one way or the other.