Posted on 05/31/2025 9:49:56 AM PDT by delta7
Not to be overly picky, my FRiend, however the chemical symbol for gold is Au. (Ag is silver)
The pound was the reserve currency until 1944.
The above is the direction that the US economy is headed. However, a gold backed dollar is not the answer. The dollar has been the “world currency” for settling debts. Right now all the major European currencies have serious Sovereign Debt problems. Sovereign debt is a crisis among almost all countries and not just the USA.
So what is an international solution that doesn't require all the major economies to compete for scarce amounts of gold that they do not have money to acquire? The solution is crypto currency. Yes, Ripple foreign debt account transactions using bitcoin or XRP are a way to move money from country to country. We are going to see almost all world currencies devalued to the benefit of governments and the detriment of the public.
Read the fine print. Not all silver and gold is equal according to them.
and keep an eye on whether US banks are buying gold.
————
They are, by the tonnage. The world’s Central Banks are, and US banks now have “ Gold Reevaluation Accounts”, IAW the Basel III agreements.
40 percent backing most likely…Brics is 40 percent and the Chinese White papers on the Yuan is 40 percent.
Bars on all of the lower level windows - must be a safe place to live...
You can’t eat paper dollars or Bitcoins either….people are finally awakening from a deep slumber.
So they will back the dollar with gold to the tune of $3,500 per ounce?
I’m glad to hear that. I can’t imagine that happening in my old state of Maryland, which is running its own chronic budget deficit.
US Gold and Silver Eagles are legal tender and have been since 1986.
Congress has the power to coin money and regulate its value. So, go ahead. Spend all the $50 Eagles you want.
There is no gold backing for any BRICs currency and there won't be a gold backed currency.
There is no gold backing for any BRICs currency and there won’t be a gold backed currenc
—————-
Get back with us in a year or so.
Hold your breath, it’ll happen faster.
they think the dollar is overvalued now?
if they continue to devalue the dollar, prices will be insane.
the houses that were $250k in 2010 are selling for $500k+ now.
continue to devalue the dollar and it’ll jump to $1m
It means gold would be more per ounce than a bit coin is worth now. And they’d probably try to make ownership illegal again.
————————
China has opened Gold ownership to all its citizens years ago. It is encouraged. Gold can be bought and sold in their banks…..try walking into your bank and buying a one ounce Gold Eagle? …or selling yours to the bank for spot price?
China knows what is coming, and is prepared…the West is not.
the houses that were $250k in 2010 are selling for $500k+ now.
continue to devalue the dollar and it’ll jump to $1m
———————-
….and it will cost $500 to fill your gas tank. People simply don’t understand what is happening. “ Gold has gone up to $3500 USD” they say…WRONG, the USD had dropped in purchasing power ( value)….today it takes 3,500 paper dollars to buy an ounce….in 2001? 250 paper dollars.
Anything short of abolishing the 3rd central bank and banishing the “Den of Vipers” to hell, will be just another futile attempt.
See Andrew Jackson, he showed how to do it
““ Gold has gone up to $3500 USD””
$3300. Never reached $3500.
Never v reached the $3500 you said it would be in 2015.
That would be over $6300 in today’s dollars.
“Get back with us in a year or so.”
FLASHBACK: July 2024 you predicted US cIvil unrest/WAR to happen just before the 2024 elections.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.