Wednesday, February 3, 2016

TNT :Asset backed or fiat currency by Fishsqueezer, 3 FEB

    • Fishsqueezer said
      12:09 PM Jan 29, 2016
    I need some more understanding and clarification. Here is my question. I have been reading the board that when the rv takes place our us currency will either be fiat currency or gold backed currency. Is this a true statement?  I have also been reading that based upon whether it's gold backed or fiat currency we may want to have different strategies for paying off existing debt. What I believe I understand from what I have been reading is that if it still is fiat currency we should pay off all debt right away. If it is gold backed currency we should pay off debt the way we normally would with reg payments. If my understanding is correct on this how will we know whether the us currency is gold back or fiat at the time of rv. 
    • God Bless Tony said
      12:50 PM Jan 29, 2016
    IMO Gold backed U.S. currency is nothing but a Dinar Land story. There are 1.25 Quadrillion worth of derivatives out there all in FRN's, U.S. has nearly 20 Trillion Dollars in FRN's in bonded Debt. U.S. has nearly 50 Trillion in unfunded liabilities. There are counter parties World Wide, puts, calls betting this or that is going to go up or down. All in FRN's. There's 7 Trillion in World Debt owed in FRN's. (which is why the dollar is so strong...great demand for FRN's)

    So, just logically, un - emotionally two questions should be asked by promoters of this meme:

    1) Why would the owners of this massive system that goes back to The First Bank of the United States in 1791 when Alexander Hamilton got the British to invest and own a part of the first Central Bank, and since that day have a system so intertwined in the fabric of the World...allow a competing currency to appear?

    2) The people above control the U.S. Government. But, even if they didn't. How could the UST print a bunch of gold backed Treasury Reserve Notes, back it by gold, (that all gold authorities say they don't have much anymore).. put out these mythical notes and co mingle with FRN's? Can you even imagine the quagmire that would bring. And 96% of all FRN's are digital World Wide?

    And that is just a few reasons why I believe nothing of the sort is happening in the U.S. for a long, long time
    • lissalivinglarge1 said
      02:05 PM Jan 29, 2016
    Just do your exchange and make all decisions on debt at that time. Debt is still debt and needs to be paid. You can restructure it but for me and my family...it will be paid off right away.
    • karmaking said
      02:25 PM Jan 29, 2016
    Let's call this hypothetical new asset-backed/gold-backed currency of ours the USN. If we were to wake up tomorrow and it was announced across the country the USN would be replacing the USD, you must think, there must be a new value to our currency if a new one were to come into place, or else USD to USN would just be 1:1, in which case they would just say there are new notes that are going to be released.

    If that were the case, there'd be no worry. Only if it were not a 1:1 exchange rate between USD to USN would there be any loss. But if that were to happen, there'd be a hell of a lot of angry people wondering why overnight the money in their bank accounts magically went down.

    I go back to when DC was on the calls whenever I'm wondering about this, when he said our dollar would most likely depreciate around 2%, and that most people won't really even notice it when it happens. This whole big plan decades in the making isn't going to destroy our economy, one of the few largest benefactors of this RV.
    • blessed2 said
      06:31 AM Feb 3, 2016
    Thanks for the post!

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