The US dollar is not backed by gold in any way. It is solely backed by debt and the promise to pay that debt. I do not see our "fiat" (debt based) currency being part of the brics gold club. Makes no sense--bc it has no relation to gold.
You are right. The dollar has been artificially valued bc of its central role as the world's reserve currency aka what must be used for international trade. That is why $34 trillion in deficits is not catastrophic as long as the dollar is central to world trade. Once the reserve currency status goes, our currency bc irrelevant and as worthless as autumn leaves. BTW, did you ever wonder if there are more US dollars than there are autumn leaves each fall? I think there are more dollars. Think about that next time you rake the lawn. This is a huge event. Quite frankly, the largest in our country's history if it plays out the way it should logically.
Let me clarify what I wrote above. Currently the US dollar is not backed by gold -- I meant when DJT moves us from the fiat dollar to a gold-based currency. I apologize for any misunderstanding on that. I've discussed that transition is coming so often, I <wrongly> assumed you all would understand my meaning.
The US dollar is not backed by gold in any way. It is solely backed by debt and the promise to pay that debt. I do not see our "fiat" (debt based) currency being part of the brics gold club. Makes no sense--bc it has no relation to gold.
You are right. The dollar has been artificially valued bc of its central role as the world's reserve currency aka what must be used for international trade. That is why $34 trillion in deficits is not catastrophic as long as the dollar is central to world trade. Once the reserve currency status goes, our currency bc irrelevant and as worthless as autumn leaves. BTW, did you ever wonder if there are more US dollars than there are autumn leaves each fall? I think there are more dollars. Think about that next time you rake the lawn. This is a huge event. Quite frankly, the largest in our country's history if it plays out the way it should logically.
Let me clarify what I wrote above. Currently the US dollar is not backed by gold -- I meant when DJT moves us from the fiat dollar to a gold-based currency. I apologize for any misunderstanding on that. I've discussed that transition is coming so often, I <wrongly> assumed you all would understand my meaning.
Perhaps the most important CG of all time.
The economic collapse will be historic.