My question is what happens to all these countries currencies?
Are they liquidated and put into gold? Just my dumb ass asking...
As I understand it, this is their plan to dump the U.S. greenback/U.S. petro dollar as the global reserve currency. Apparently, the central banks of all these nations have been stockpiling physical Gold so their new currency actually has some “clout” as ours used to prior to dumping the Gold Standard. This will ultimately destroy the greenback, and give Powell, and Co. at the FED, and Yellin at Treasury an excuse to more quickly implement their CBDC (Central Bank Digital Currency). As usual, no good outcome for us in those scenarios.
“My question is what happens to all these countries currencies?”
Sure, today you can convert all your dollars into Russian Rubles, South African Rands, Brazilian Reals, Ethiopian Birrs, Argentinean Pesos, and Iranian Rials and make out big time when all those currencies are converted to BRICS.
No its a good question.
My understanding is that every country will retain their own currency but will be required to maintain verifiable gold reserves to back it up.
The dollar will be replaced by the US note through our Treasury Department. The Federal Reserve is going bye bye. We are all going to be on the QFS system or whatever they decide to call it. Europe will also be on this system. The central banking system is going away.