THIS ONE IS BIG: Gold backed currency introduce
(www.moneymetals.com)
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Well, you're right of course, BUT here are a couple of questions: Is this a case of too little, too late? Can the dollar even be salvaged at this point by precious metals? And another: How much gold reserve does America have right now AND how much US currency is out there in circulation? Is there enough gold in our reserves to cover existing currency?
Not an economist here, just an average Joe, but how do these things work anyway? And, how does such a gold standard act retroactively for existing fiat currency?
EDIT: Follow up thought... how long before some stooges in the legislative process say that this idea is "a danger to democracy"?
Some Frens have postulated Trump took the Vatican's gold a couple years ago:
https://greatawakening.win/p/11RO2hdyAU/pope-wants-to-know-where-all-the/c/
https://rumble.com/vfvjov-q-100-truth-lin-wood-destroys-deep-state-cabal-panic-in-dc-pope-francis-dea.html?mref=2hzb1&mrefc=5
https://greatawakening.win/p/13zzRB6jyR/reminder-if-you-didnt-knowvatica/c/
IDK much about money either. But from 30k foot view and knowing Trump's background, I would assume when he intentionally put the US Treasury in the first lien position on the existing debt and essentially folded the Fed into treasury by stacking the board with guys who, on cue (or Q lol), raised interest rates when Biden took up residence, my guess is that he intends for the US to default on the debt and destroy the Central Banks.
I read somewhere (here) the US Treasury has been minting silver coins for some time now, but not circulating. Maybe they are just going to give people the value of what they lost calculated at some pre hyper-inflation point in time, which would be hilarious. Because even if bank debt wasn't cancelled, paying off a 100,000 after hyper inflation mortgage debt would be like buying a loaf of bread. Serves 'em right.
As long as it is like buying a loaf of bread and not eggs.
Would be pretty cool if it happens*** after*** all the other countries finish dumping their dollars and t-bills. And after the banks are nationalized for the same reason.
Hmmm, you may be right, but I would prefer independent banks that are NOT nationalized by the government. Particularly by THIS government. I cannot imagine how much evil could be done if the current government got hold of trillions of dollars of citizens' money.
Probably also needs to be a new bill, which would require exchanging any bills you have tucked away - nice for tracking the people's cash supply.
It’s a good question, whether or not the dollar can be salvaged. I think that fixing the dollar would make the transition less bumpy. But, as you said, it’s not easy to restore the integrity of the dollar, so much damage has been done.
If gold and silver are allowed to trade freely and honestly, I believe their price in terms of dollars will skyrocket. Ultimately, that can (and in theory should), fix the problem of there being too little gold for it to be used as money.
The question of gold reserves is something I often ponder. I live in Finland, and our gold reserves could be stolen already. In the the US, the situation is better. I believe that you have the gold, as Q confirmed. As the saying goes, posession is 90% of ownership. And that is relevant as there is at least dozens of claims of ownership for every ounce. That is something that has to be solved somehow.
Thank you for that very thoughtful response.
Cartels hold alot of illicit cash that doesn't count towards total circulation
Drug dealers here ad well