.
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.
For a country holding the reserve currency to devalue it….that would not be a good thing for that country.
But have at it.
If you are not holding hard assets when it happens—if you hold stocks or dollars—you will be screwed. Might be time to buy some of the bullion stuff—and not the paper type.
Of course, the last time this happened the dollar was not the reserve currency AND they confiscated gold.
Too many dollars have been printed by the Deep State.
And Trump likes gold. He has gold cherubs in the sconces of the White House oval office.
Yep, we are returning to the Ag standard......and keep an eye on whether US banks are buying gold.
The political class will fight this tooth and nail, because it would severely restrict their borrow-and-spend methodology. Taxing people brings the risk of a backlash; selling a generation yet unborn into debt slavery has no such risks. A gold-backed dollar could not be printed arbitrarily to support deficit spending, forcing either dramatically higher taxes or dramatic cuts in expenses.
Turn the world around the other way.
We never mentioned inflation until Nixon took us off the gold standard in ‘72. Supposedly this was to save the dollar somehow.
The solution to the problem is simple: You asshats in DC need to cut spending. Everyone is screaming because DOGE is actually uncovering corruption AND overspending in virtually every branch of gov’t. Well, take action on those discoveries, apply the savings to the debt immediately, and then cut their budget to the lower amount. That’s a start...
It would be like that scam of minting $1 trillion dollar platinum coins to put in the Fed vaults to erase the national debt - just on a slightly larger scale.
Gold prices would spin out of control and industrial use of gold would stop. President Trump is getting control of our national gold reserves to get set up to fight a 2008 style economic attack on the US.
.
401Ks become worthless as do US stocks. Millions plunged into poverty - enterprising seniors line up to sell now worthless items. The Great Depression v2.
Any kind of dollar rescue would be to get rid of the Federal Reserve and take over its assets. Problem solved.
It would have to be done abruptly without giving it time to hide assets.
Still awaiting that Fort Knox audit...
Still awaiting that Fort Knox audit...
DeSantis has just made gold and silver legal tender in the State of Florida.
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.
So they will back the dollar with gold to the tune of $3,500 per ounce?
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
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