What goes round, comes round. In order to run huge deficits, the FSoA broke thee Bretton Woods agreement and went off Gold in the 1970s. Ft Knox was bleeding gold as the French wanted to be paid in gold at the time. The Petrodollar was born soon after.
Fast forward 50 years, the deficit spending is out of control and counries would rather be paidin Gold again. USTs don't look so safe anymore. The BRICS load up on gold to back a new currency and kill the dollar. Fun. ;D
Definitely getting closer to currency collapse. The problem with gold is no matter how much they've collected up, it's not enough to handle global trade without the value skyrocketing to ridiculous values. Like an ounce would buy a house.
Load up on barter items.
https://watcher.guru/news/brics-gold-will-displace-the-u-s-dollar-says-top-analyst
BRICS: Gold Will Displace the U.S. Dollar, Says Top Analyst
RE
BRICS: Gold Will Displace the U.S. Dollar, Says Top Analyst
Started by RE Jun 08, 2024, 02:56 PM
Message path : / Society / The American economy / Currency Markets & Inflation #4
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