58 sats \ 7 replies \ @Akg10s33 31 Oct \ on: Gold Is Back—And So Is Judy Shelton econ
It won't be soon, but the BRICS thing is coming with force!! and there is no turning back, it is no longer one country, but several that are seeking to shake off the Dollar 💵 and the truth is that I do believe that gold could support this "Supposed Currency".. I hope everything ends happily and the Gold thing is just a small illusion... as we have seen before...
The idea Shelton is proposing here is pretty interesting and might even be something that could work for BRICS: i.e. contracts could be payable in either gold or local currency, whichever the recipient prefers. It's a nice little check on currency debasement.
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Currency debasement happens no matter what!
The people running governments want to spend freely and line their own pockets.
Only when there is no way to be able to clip or dilute or create out of thin air, will money or currency or whatever become undebasable.
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That's certainly true in the long-run. In the short term, they may be looking for a sound money strategy to pull capital out of the dollar reserve system, though. They're also looking for mechanisms to increase confidence in the bloc amongst the members.
Once they have commitments from their members, I'm sure cheating will become rampant.
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Why do you say that? Is the Russian state any more or less trustworthy than the US state?
They all look the same to me!
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You’ll notice that he seems to be keen to put gold in as about half of the value of the units. It might not take a whole lot of trust.
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Of course! People who lie and cheat, steal and kill, can only be expected to debase the money. it is nothing but a con-game by THEM, on us. With force, they can work it every time successfully, until they milk it dry.
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