" They don't have anywhere near enough gold to cover the trillions of US dollars that will come flowing back in." I'm confused or ignorant, thought the USD hasn't been redeemable since 1971, when Nixon took us off gold standard, and then into petro $s in 1976 ish?
No you're right, the way I worded that seemed to imply there is still a gold standard and was totally confusing. Not sure why I wrote that, sorry. Late night/early morning post when I should have been sleeping.
The point I was trying to make was that as confidence in fiat currencies and the USD falters and gold becomes more attractive, countries will pull their gold from the Federal Reserve Bank vaults (which some have alleged is not all there) to hold physically, and return the trillions of dollars they hold in Treasury Securities back to the US which will cause rapid devaluation of the dollar.
Great video, probably one of the more simply effective presentation I've seen, I'll be sharing it with my non-economic friends. Here's some interesting insights to what's been going on at "the fraudulent reserve" lately. John Titus worked with Catherine Austin Fitts documenting the great heist.
https://m.youtube.com/c/BestEvidence/videos
Well said, Been there, done that myself. I see the logic and understand the reasoning in the rest of your post, that part just didn't fit. Tks for the link, keep up the good fight.
" They don't have anywhere near enough gold to cover the trillions of US dollars that will come flowing back in." I'm confused or ignorant, thought the USD hasn't been redeemable since 1971, when Nixon took us off gold standard, and then into petro $s in 1976 ish?
No you're right, the way I worded that seemed to imply there is still a gold standard and was totally confusing. Not sure why I wrote that, sorry. Late night/early morning post when I should have been sleeping.
The point I was trying to make was that as confidence in fiat currencies and the USD falters and gold becomes more attractive, countries will pull their gold from the Federal Reserve Bank vaults (which some have alleged is not all there) to hold physically, and return the trillions of dollars they hold in Treasury Securities back to the US which will cause rapid devaluation of the dollar.
https://capitalgoldexchange.com/why-are-countries-pulling-their-gold-out-of-america/
I can't explain things nearly as well as Mr Mike Maloney....
https://youtu.be/iFDe5kUUyT0
Great video, probably one of the more simply effective presentation I've seen, I'll be sharing it with my non-economic friends. Here's some interesting insights to what's been going on at "the fraudulent reserve" lately. John Titus worked with Catherine Austin Fitts documenting the great heist. https://m.youtube.com/c/BestEvidence/videos
Thanks, I will check out the channel!
Well said, Been there, done that myself. I see the logic and understand the reasoning in the rest of your post, that part just didn't fit. Tks for the link, keep up the good fight.