The money will be converted to historical US Notes issued by the US Treasury and indexed to physical gold.
We will be fine.
The Fed and its member monsters will be in agony.
Time to also tag china big time
The debt obviously cannot be repaid. The FED is under Treasury now. Agree that the banksters at the FED will get loaded with debt. I’m unsure how the conversion to a gold standard will impact the value of currently in IRAs, etc.
Imagine the possibility of paying off the entire US National Debt -- with $1 Trillion denominated Platinum Proof Coins (per the 1996 Coinage Act). Article below from the Cato Institute -- a libertarian-leaning think-tank. MMTs Big Coin Gambit
The corporation of private banksters The Federal Reserve needs to be put out of business and the Constitutional re-establishment of the US Treasury as the issuer of US currency (recall United States Notes).
FReegards!
This. It's coming out of money that was stolen from us over generations. Watch.