This seems potentially monumental. They could potentially destroy the fiat dollar which may forever ruin the ability the US had to hit countries with sanctions. Saudi Arabia, Argentina, Indonesia and Egypt are considering joining in the alliance.
https://twitter.com/Ultrafrog17/status/1664406143748194304?s=20
We could just forego a pure gold standard in exchange for a pure silver or a silver/gold standard. After all, up until the end of the civil war when Ulysses Grant passed the Coinage act of 1873, silver was the actual money of this country, gold being a ratioed equivalent of silver. There was huge movements during the Gilded age to remonitize silver too, just look at the Cross of Gold speech by William Jennings Bryan.
You could back it by essentially anything, even river rocks if need be (slight hyperbole).
The problem is that our money isn't really backed by anything except our stranglehold on the world, and that is steadily slipping as we've given all of our manufacturing (and with it IPs and technological advancements) to foreign countries and now rely on places like China, hostile foreign nations, even to produce our medicine for us.
Backing it with something tangible is an automatic improvement.
what do you mean our? you are not part of us. you are the enemy
What the actual dipstick are you talking about low karma, low engagement, new user?
I am pointing out you are the enemy of us.