The other side of this equation is dopey joe's insistence on destroying the fossil fuel industry upon which the dollar is boursed. Hypothetically, let's say there's a magic wand that makes dependence on oil go away, and we all drive electric cars powered by happy thoughts - what is the basis of the dollar's valuation then? Nothing. It's worthless scrip.
Explain how 1 percent of all trading in the US dollar (oil) going away, makes it worthless.
You're right and that's why we're hearing all the chatter of a US based cryptocurrency. The PTB won't hesitate to sink the dollar along with bitcoin and replace it with a new currency, one I'm sure is already developed with the help of the usual suspects. Unimaginable pain is coming for the Deplorables.
Texas has it’s own gold repository.
Texas is one of the strongest oil producing states, rivaling many countries.
Yes, Xi-O’Biden and his #ComDem supporters hate Texas.
The greenies are spitting in the wind with the idea of alternative energy replacing fossil fuel.
The laws of physics have not changed. And they overrule the #ComDem_Insanity coming out of DC and the Globalist pukes.
In theory, the USA could also have a gold-backed currency - we are a huge economy, a highly productive economy, and large population.
EXCEPT for the fact that we are heavily in debt and our woke-leftist-social-engineering ruling class absolutely depends on printed fiat and massive debt to keep woke-America afloat.
Therefore, they will fight tooth-and-nail to preserve the fiat US dollar. They will print like mad. They will attack anyone who proposes a gold-backed currency, including Russia. They will also impose fascism/marxism in the USA.