the Chinese were supposed to launch the petro-yuan today, looks like the tariffs may have kicked that plan in the dick
start page is shit, did a news search for it and didn't find jack. used Jewgle and tons of stories. this is bad
you're missing the point, it's actually backed by something other than debt
lurk more
I love the idea of it, but from what I understand is there isn't enough physical gold for our economy. Bill Still (money masters) had a great description of how over time we could get out of the federal reserve system and slowly start introducing a new currency from the treasury dept that has value (in something).
US citizens (use that term lightly) were off the gold standard back in 1933 when the US confiscated private gold. at that time Americans could no longer trade their notes in for gold. the reason Nixon declared the gold standard over in 1971 was because of the Bretton Woods agreement FRN were to be redeemable for gold for foreign countries, we reneged on that promise and they were stuck with FRN. in other words we didn't have enough gold to cover our foreign debts, let alone our economy. so for those thinking we're going to be carrying around gold coins, think again (unless you purchased said coins yourself).
so… why do you think there hasn't been and audit of the gold in fort knox? why are gold bars from several nations turning out to be gold filled tungsten? we were unable to return the german gold from WWII (130 tons) back to them. the gold is gone
Shall we play a game?
it was sent to the bank of england (Roths) years ago to pay our debt obligations. another thing I don't think has been mentioned is another thing Nixon did was to put up our national parks as collateral for more debt to UNESCO