Correct

Chancy, firstly, that's assuming the gold is still all there.

Secondly, the dollar as we know it isn't backed by gold. The government would have to come out with something new and revalue gold. If they were to do this it's a really good chance private ownership of gold could be outlawed like in the 30s. Just like my firearms come and get it

Thirdly the world would have to accept the new currency. That is the most difficult and important part. We haven't very responsible being the reserve of the world. While many look at our trade deficits as a bad thing that is how we export our inflation. Take from another country their natural resources and labor and give them a coupon in return. Then we print more coupons making the ones we traded them less valuable. Eventually they could say enough. If all those dollars floating around the world facilitating trade around the world should return to shore that is when the true hyper inflation will occur. Does it surprise anyone that China is buying US businesses and real estate?

I expect we will at least see a gold or commodity backed money used for international trade or heaven forbid, Bitcoin.

All this is IMHO of course and worth exactly what you paid for it . As pessimistic as I am I still have traditional investments yet lean a little more conservative hedging those investments.

Fed is sceduled to release a new digital currency next year....

What good is your gold if no one else will take it in trade? If it's outlawed, only fellow preppers will want it, and they probably have similar items to what you stockpiled. You'll need to barter with the general population, and they can't use your gold.

Same deal with guns, if you wait to use/hide them until they are illegal, what good are they? Your neighbor will turn you in for a Sam's Club certificate.

How do you have a bank run on a digital currency?

Well played. Ask google, not us. Don't be afraid to double check google. Watch for bias. The knowledge is there, not here. That's not a fact. That's my bias opinion.

History of US gold standard

The Last time Russia got antsy and invaded Afghanistan in 1980 gold went thru the roof,then dropped again.
Great for the economy in NE Ont. when gold prices are high.
Lots of gold mines here.Sometimes you can find gold in quartz rock laying on the ground.

Somebody will always take gold, silver, commodities in trade.






Well played? The US has roughly 300 million ounces of gold held by the federal reserve and at fort Knox. At today's valuation that's roughly 560 billion dollars. That is not enough to back 3 percent of the M2 money supply.

There is a reason central banks around the world have been aggressively buying gold and repatriating their gold held in foreign locations.

In the late 1800's early 1900's here the made marten was the unit of payment/currency for trade.
When its 40 below I would sooner have a pile of fur than a pile of gold.

Yea,,and sometimes,,someone wins the lottery.Hahahaaahahaaaa

i have quartz with gold in it too

Japan’s narrowing options on monetary easing
21 August 2021
Author: Toshitaka Sekine, Hitotsubashi University

More than eight years have passed since the Bank of Japan (BOJ) began its aggressive Quantitative and Qualitative Monetary Easing (QQE) program in April 2013. Despite subsequent efforts made by the Bank, such as the adoption of negative interest rates in January 2016 and yield curve control in September 2016, it has yet to achieve its 2 per cent inflation target — the most recent figures put consumer price index inflation small negative.

I think what back U.S. currency as the worlds standard is our military might. Our modern military isnt very mighty if we don't have the ability to build our own computer chips or other key components of satellite dependent technology. Not very mighty if key engine technology can't be manufactured. What if our infantry needs boots? Where will the leather be tanned at and the boots cut and sewn?

Heres a hunk I tossed in the drawer.

Dirt. Japan is in big trouble. Put a fork in them, they are done.

Is part of it because they're not having any kids...? They don't allow much, if any, immigration, and so if a nation only has a TFR of 1.4, they aren't going to be around much in the long haul unless things change...

Roger, Japan's national debt is over 2.5 times GDP. To put that in context if ours was the same a percent of GDP we'd be north of 70 trillion.

Almost half of that debt is held by the central bank of Japan. That is not sustainable.

Very old population and aging fast also. High debt and limited work force to grow the economy spells some economic issues very soon and some real cultural issues not too far away either.
China may have changed their child policy soon enough but they will be short of workers as well. The advantage for the large Asian nations they can with immigration change their demographics if they find ways to do immigration that works for their culture.
Bryce

[quote Japan's national debt is over 2.5 times GDP. To put that in context if ours was the same a percent of GDP we'd be north of 70 trillion.

Almost half of that debt is held by the central bank of Japan. That is not sustainable.[/quote]

Lots of harakiri then, but only if the leadership still believes in such responsibility. Probably not, too Westernized, no leaders take responsibility...

Once their economy and social structure collapses,China will be ready to move in and enslave them.

Dang, once more BOCO is correct!