US total net worth is now $137 trillion after Q1

[Mk-313]

Please stop fooling people around. US economy was backed by gold as late as 1973. This was the sole reason all the economies of the world switched to USD. Then the Greay Charles De Gaule of France demanded gold from USA for the USD it was holding but in a blatant show of shameless power Nixon.
In 1973, Nixon devalued the dollar even further, making an ounce of gold worth $42.16 As the dollar devalued, people sold their greenbacks for gold. By late 1973, Nixon decoupled the dollar from gold completely. The market quickly sent the price of the precious metal to $120 per ounce.17
Inflation was in the double digits. It ended the 100-year history of the gold standard.

Please start reading my post cuz now am convinced you are not. I said gold standard works if you have more gold than the economies they are backing

Right now the current gold reserves of the world is $9 trillion dollars. That’s thevalue of every ounce of gold in the world. How the hell do you expect $9 trillion of gold to back the global gdp of $93 trillion. Either you have to reduce the value of everything by 10x or you have to come up with $93 trillion worth of gold to back it

Most of you just read some excerpt from Wikipedia and think they become some CIA experts unconvering the conspiracy that the leaders, central banks and economics of the rest of the world couldn’t

 

[Muhammed45]

And most of that 1/4 of that money is in China already in exchange for exports. So by that logic US traded something valuable with China in exchange for worthless dollars.....

Yes, that's the main threat to dollar. Chinese are smart, you have no idea what happens when countries switch to Yuan and other currencies.

Currently no country has announced readiness to buy that Credit as you claimed above.

Russia dumping a mere $110 billion is a drop. And mostly for show Russia traded dollar for euro but when they wana buy something they will again have to reconvert those euros back to dollar since all international trades are settled in dollars . I don’t think most of you even understand the function of a world reserve currency

Russia is an industrial giant. You know that but try to ignore it. Russians can can convince Indians and other military partners to deal in other currencies in order to avoid the toxic dollar. Not only Indians, Turks, a couple of European countries beside countries from Africa and South America.
You should've received the warning signal when your government was imposing ridiculous sanctions on everyone for lame reasons. You gonna reap it

 

[Mk-313]

Yes, that's the main threat to dollar. Chinese are smart, you have no idea what happens when countries switch to Yuan and other currencies.

Currently no country has announced readiness to buy that Credit as you claimed above.


Russia is an industrial giant. You know that but try to ignore it. Russians can can convince Indians and other military partners to deal in other currencies in order to avoid the toxic dollar. Not only Indians, Turks, a couple of European countries beside countries from Africa and South America.
You should've received the warning signal when your government was imposing ridiculous sanctions on everyone for lame reasons. You gonna reap it

No dumbass that treasuries are already sold . US treasury cannot print the dollars unless they have the treasuries to back that amount. Now you are just making shit out of your ***.

That’s how the process works. You hear the big number of $28 trillion dollar of US debts that everyone talks about. That’s how it comes . US sells its debt

And Russia has a smaller economy than india....:/ maybe research next time you try to make shit up

 

[Aasimkhan]

Please start reading my post cuz now am convinced you are not. I said gold standard works if you have more gold than the economies they are backing

Right now the current gold reserves of the world is $9 trillion dollars. That’s thevalue of every ounce of gold in the world. How the hell do you expect $9 trillion of gold to back the global gdp of $93 trillion. Either you have to reduce the value of everything by 10x or you have to come up with $93 trillion worth of gold to back it

Most of you just read some excerpt from Wikipedia and think they become some CIA experts unconvering the conspiracy that the leaders, central banks and economics of the rest of the world couldn’t

Until 1973 every dollar was backed by Gold. This was one sided decision by Nixon to punish France. Now you telling me there is a whopping gap of 93-9 = 84 Trillion USD between. This is outright thuggery on part of USA. This gap is due to US arrogance.

 

[Mk-313]

Until 1973 every dollar was backed by Gold. This was one sided decision by Nixon to punish France. Now you telling me there is a whopping gap of 93-9 = 84 Trillion USD between. This is outright thuggery on part of USA. This gap is due to US arrogance.

No Dum Dum. This is the process of economies increasing faster than we can mine gold. Back in the days economies would grow but every few years there would be a major war that would reset the gdps back to zero

2- commodity backed economies hinder innovation.
Let’s say I am a country of chairs and my country has 100 chairs and everything in my country is backed by 1 ounce of gold

Tomorrow people in my country makes 100 more chairs but since I have only 1 ounce of gold backing my economy each chair is worth half now. And chair makers are not going to make more chairs if everytime they manufacture the value goes down

So either my country’s gold mining capability has to match the country economic growth (chair making capability) or I will have to lower the value of those chairs down to accommodate for the gold

 

[Aasimkhan]

No Dum Dum. This is the process of economies increasing faster than we can mine gold. Back in the days economies would grow but every few years there would be a major war that would reset the gdps back to zero

2- commodity backed economies hinder innovation.
Let’s say I am a country of chairs and my country has 100 chairs and everything in my country is backed by 1 ounce of gold

Tomorrow people in my country makes 100 more chairs but since I have only 1 ounce of gold backing my economy each chair is worth half now. And chair makers are not going to make more chairs if everytime they manufacture the value goes down

So either my country’s gold mining capability has to match the country economic growth (chair making capability) or I will have to lower the value of those chairs down to accommodate for the gold

Wrong analogy. When you make more chairs your Dollar will have more buying power. And by the way how come the system was working fine until 1973 when Nixon decided to refuse France its fair share of gold ? All these brilliant ideas were not there before US arrogance

 

[Aasimkhan]

No dumbass that treasuries are already sold . US treasury cannot print the dollars unless they have the treasuries to back that amount. Now you are just making shit out of your ***.

That’s how the process works. You hear the big number of $28 trillion dollar of US debts that everyone talks about. That’s how it comes . US sells its debt

And Russia has a smaller economy than india....:/ maybe research next time you try to make shit up

You dont even have a central bank, dollar supply is controlled by Jewish owned Federal Reserve. When the music will stop (and it is in the process of stopping) US population will have nothing but 24 Tn Dollar debt.

 

[hualushui]

The highest technology in the US:
Nuclear Banknote Printing Machine

 

[Hamartia Antidote]

The highest technology in the US:
Nuclear Banknote Printing Machine

At least it isn't laughable children's Monopoly money like the Chinese Yuan.

If you go into any major bank in the world they'll happily take a large stack of US dollars and hand back Chinese Yuan.

However attempt the other way where you hand a large stack of Chinese Yuan and ask for dollars and they'll laugh you out of the building.

 

[925boy]

You know we’ve been hearing that since like the 1960s. . The dollars power does not come from petrol the annual transaction of petrol is only $200 billion/year So I’ll school you a little bit

1- dollars power come from the fact that all international transaction are settled in USD. Which means every country in the world would only take USD as payment for exports and imports
2- 80% of the dollars are held by other countries in foreign reserve
3- the international payment system SWIFT is based on the dollar

So to topple the dollar
1- everyone in the world must agree to an alternative currency that they will use for export:import at the same time
2- All the countries that hold the USD as reserve and own the USD as debt will need to discard it and voluntarily agree to losing all that money
3- A system next to SWIFT must be built and implemented, integrated in every bank of the world

The euro tried toppling the USD but since everyone at the same time did not agree to use euro to settle international payments it could not topple it

The BRICS countries tried to out in their own system against the SWIFT system in 2014 its been 7 years now and no one has adopted it

So you tell me are the dollar days really numbered

cryptocurrencies already topped the dolar and u sound like a US govt propaganda machine. like a typical American- u will say ur winning even when uve just lost.
All this wealth is a dellusion because US has horrible wealth distribution,cuz we know the top 10% of Americans control 90% of th country's wealth, its almost a neo-feudal slave state.

 

[Mk-313]

cryptocurrencies already topped the dolar and u sound like a US govt propaganda machine. like a typical American- u will say ur winning even when uve just lost.
All this wealth is a dellusion because US has horrible wealth distribution,cuz we know the top 10% of Americans control 90% of th country's wealth, its almost a neo-feudal slave state.

Cryptos market cap = 2 trillion
USD market cap in credit and circulation = 50 trillion

Even the cryptos got their values from the USD people traded their USD to buy cryptos which in turn gave them their value

You sound like an idiot whohas No idea what he’s talking about and any views against him is “propaganda”

 

[Mk-313]

Wrong analogy. When you make more chairs your Dollar will have more buying power. And by the way how come the system was working fine until 1973 when Nixon decided to refuse France its fair share of gold ? All these brilliant ideas were not there before US arrogance

Yes correct, with a Fiat currency everytime you make a new chair you can print equivalent amount of USD and retain value. But in gold standard if you don’t have new gold to back up the new chair then you have to deflate the value of the asset

Nicon is not the first president to abandon gold US has been off gold standard since 1939 when FDR suspended the gold standard.

 

[Aasimkhan]

Yes correct, with a Fiat currency everytime you make a new chair you can print equivalent amount of USD and retain value. But in gold standard if you don’t have new gold to back up the new chair then you have to deflate the value of the asset

Nicon is not the first president to abandon gold US has been off gold standard since 1939 when FDR suspended the gold standard.

Another way to put your same statement "deflate the value of the asset" is increase in the value of the currency. US dollar would have been 84 times stronger had it been backed by gold. You changed the rules of the entire game right in between the match because you had a strong military and no one do a fcuk about it. Times have changed, US military power is dwindling like never before in 100 years. USD will come eventually down. Its only a matter of time now.

 

[HAIDER]

@KAL-EL ..i need help for setting up compact sign music component system. Should we start the thread for it ?