General Elon and Vivek to head Department of Goverment Efficiency (DOGE)

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C

CuddleBug

Posting Machine
Nov 18, 2023
779
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Uncle Tom Doug said:
The USD hasn't been backed by gold since 1971, so I don't think the impact, in that regard, would be all that significant.
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I get that, but a fiat currency is only as strong as the entity backing it, that is going to open a whole can of worms, no? They also need to do gold transfers regularly to exchange the currency, what happens when all the foreign entities holding our currency realize that there is no supply to exchange for it?
 
Uncle Tom Doug

Uncle Tom Doug

Official TMMAC Racist
Jun 24, 2022
2,010
3,337
CuddleBug said:
I get that, but a fiat currency is only as strong as the entity backing it, that is going to open a whole can of worms, no? They also need to do gold transfers regularly to exchange the currency, what happens when all the foreign entities holding our currency realize that there is no supply to exchange for it?
Click to expand...
America's strength and the USD aren't tied to our gold reserves.. And it hasn't been in a long time. Our money's value is based on our government's ability to generate revenue and their ability to compel other country's to use the USD. We have the largest economy, by far, and the largest/most powerful military in the world, America will continue prosper, even if Fort Knox is empty. Especially with Pumpkin Spice Jesus running things. Markets might react in the short term, but everything will settle and continue to hum right along. America doesn't house all of it's gold in Fort Knox, it's allegedly about half.
 
C

CuddleBug

Posting Machine
Nov 18, 2023
779
1,395
Uncle Tom Doug said:
America's strength and the USD aren't tied to our gold reserves.. And it hasn't been in a long time. Our money's value is based on our government's ability to generate revenue and their ability to compel other country's to use the USD. We have the largest economy, by far, and the largest/most powerful military in the world, America will continue prosper, even if Fort Knox is empty. Especially with Pumpkin Spice Jesus running things. Markets might react in the short term, but everything will settle and continue to hum right along. America doesn't house all of it's gold in Fort Knox, it's allegedly about half.
Click to expand...
 
kvr28

kvr28

I am the Greengo
Nov 22, 2015
12,813
19,123
Uncle Tom Doug said:
The USD hasn't been backed by gold since 1971, so I don't think the impact, in that regard, would be all that significant.
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I think it would be, even though it's not gold backed the belief that it is there is comforting to a large amount of people, it would erode even more faith in the US govt.
 
MountainMedic

MountainMedic

Rock Kicker
Sep 28, 2017
5,149
10,376
kvr28 said:
I think it would be, even though it's not gold backed the belief that it is there is comforting to a large amount of people, it would erode even more faith in the US govt.
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And it just opens the door to a million questions about where the fuck it is, who is responsible for draining it, and why has the government been lying about it and guarding an empty vault for our entire lifetime?

Just how sold out are we?
 
segfault

segfault

Posting Machine
Aug 13, 2024
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Lengthy jail sentences or executions. Nothing short of that will change anything. Telling us that the entire apparatus is corrupt isn't fucking news. Doing something about it would be.
 
kvr28

kvr28

I am the Greengo
Nov 22, 2015
12,813
19,123
MountainMedic said:
And it just opens the door to a million questions about where the fuck it is, who is responsible for draining it, and why has the government been lying about it and guarding an empty vault for our entire lifetime?

Just how sold out are we?
Click to expand...
yep
 
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