And I might hit the lottery too.
We need a currency that is out of the hands of politicians and central planners.
Such printed, fiat currency, with interest rates manipulated by a central authority is THE cause behind all our political troubles today.
There are no brakes on spending and debt for government, all its cronies and ideologues and all their social engineering schemes.
How much do we owe if we stiff China? :D
So, what should people who have dollars do?
I’ll believe it when I see it, but I have been expecting this sort of idea to get more visibility. This seems reminiscent of the old Greenback idea that Lincoln used during the Civil War. I believe the Central Banks are a great evil and we need to be rid of them.
What is this guy smoking? I love the sentiments, but he’s off his rocker.
“Next year, everyone will be producing all of their own energy everywhere, from juicer scraps. The generator will be sold for $15 and directly plug into power boxes.”
Pennies become nickels
Nickels quarters
Quarters bucks
1s - 5s
And so on ?
Last time someone tried something like this they got a convertible ride in Dallas
Wonderful little fantasy, where’s the evidence it’s in process or even being considered?
I thought we were going to eventually solve the debt problem the old fashioned way; hyper inflation
Why is it I seem to be reading what I have advocated and written about for years?
Yes, the Great Trump reset is going to demolish the Federal Reserve and rebuild a new financial infrastructure that indexes US Notes to gold, stabilizes the currency and rewards savers.
But first there will a course of negative interest rates for federal debt to wipe out the deficit and pay down the impossible fiat debt.
Only the federal government will receive negative interest on financing and refinancing its debt.
As an example, financing and refinancing $50 Trillion at -6.5% will wipe out the deficit in less than 4 months and begin paying down the federal fiat debt to levels where it it is a position to be extinguished altogether.
US Notes were historically the currency before Federal Reserve Notes. They are nothing new. They will be indexed to gold. That means if you work hard for 5 to 10 years to save up for a home, farm or business, you will be able to buy what you work so hard and save for.
Hard working savers will be the smart ones in the future, just the way it was before the Federal Reserve era and the way it should be.
You will not sit in a home with a mortgage and watch housing inflation fill you with euphoria like a drug, making you think you’re rich for doing nothing. The value of your property will be based on how will you kept it up and of course location or if it’s a business, how much market share achieved.
People will begin to think “I saved $40,000 these past few years”, now I can buy that piece of land which is still about $40,000, and then maybe I will take out a clean loan to build on it or maybe I will continue to save and use my savings to build on it leaving me debt free.”
People will have that option.
Today there is no such option (in general). The aim of acquiring something through saving is more often than not unattainable because the $40,000 land becomes $60,000 land over the years the saver trues to earn the capital to buy the land (all other things equal like demand, taxes, land use zoning, etc.).
This is the complete abolishing of the Federal Reserve, and as much as we want it, there are too many wealthy, powerful people that want the current system to continue.
I skimmed your article. What asset is this going to be backed against? Gold? Then the price of gold is going to be bout $20k.
And all of the “entitlement” programs (even those “paid into” programs like Social Security) will become worthless. Gramma’s monthly check just got devalues by about 50%.
There will be a reset, but it won’t be based on what the Treasury does. And it won’t be nice.
What a fantasy!
This entire system is about to come crashing down.
Inflation alone is a problem and compounded with the massive debt, there is no way the pain can be kicked to the curb for more than a few years.
There’s a new cryptocurrency coming out called “CryptoCovid (CC19)”. It takes 19 million CC19’s to equal one Bitcoin, that is the solution ... /sarc
The solution is simple but painful:
Congress votes every decade to establish the value of currency, X holdings to Y dollars
As for holdings, I believe an abstraction is in order. I call them GEOzs (Gold Equivilent Ounces). This would be the current fair market value for the sale of that asset estimation, represented in gold ounces. The sum total of all hard assets owned can then be used to deterimine the holdings of the US government. These holdings and there estimated value would be published by the treasury department every decade.
Congress then passes a law on that ratio of holdings to dollars. That ratio remains the same until Congress passes a law to change that ratio. Congress only gets to change the ratio every 10 years.
I want some of what the author is smoking.
But, but, but Hamilton.
From your keyboard to God’s ears -— oh how I wish that what you have outlined could/would come to fruition!!!
Trumpsara update. Visit www.Ripple.com to gain a better idea of how the Fed will eventually be replaced. https://rumble.com/vatvjl-trumpsara-update-new-quantum-financial-system.html