Future historians may look back at September 18, 2008, as the day the dollar died.
The Fed furiously printed money to put out fires at Lehman, AIG, and Goldman Sachs. At the same time, China began to orchestrate massive inflows of gold, not under a gold standard, but rather stealth purchases using secret agents and intelligence tradecraft. The mirage of dollar strength continues. Still, the ground under the dollar has shifted.