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RE: The Creation Of A New International Trade Currency Will Damage The Dollar - Episode 1552a

in #real-estate7 years ago (edited)

Hi Dave, the world is moving away from the 'Federal Reserve Note' which is fine because we don't need them. If this administration were to revive a portion of the Coinage Act pricing a US Treasury-issued silver-backed dollar at the metal value to a Federal Reserve Note then the conversion would be roughly 1 USD to 17 Federal Reserve Notes. What would that do to the National Debt since the debt is in 'FEDERAL RESERVE NOTES'? What would happen if the Treasury-issued USD was based on gold? What would the conversion on the debt be then? But those would not be in circulation....Crytptocurrency would be what the people will trade with, and the metals-backed treasury-issued USD would be used to settle the debt. All this would equal no national debt, no central bank, and no more stupid future wars.