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

[CuddleBug]

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.

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]

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?

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.

 

[CuddleBug]

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.

 

[kvr28]

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.

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.

 

[Uncle Tom Doug]

 

[Uncle Tom Doug]

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.

Faith in the U.S. Government?

 

[Papi Chingon]

Only a moran would believe this is organic

This country is 50% morons.

 

[Uncle Tom Doug]

This country is 50% morons.

Your estimate is very conservative I bet it's closer to 80%.

 

[Wild]

I dont think the average American can fathom how much money (tax dollars) was looted & laundered over past 20-30 years. Trillions and trillions. Look at the condition of our roads, airports, subways, schools, hospitals. Then look at places like Dubai, China, Japan, etc.


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