Eccle519: This current economic world turmoil is exactly what the GCR needs to begin a reset of all currencies especially the Petro Dollar which supports all currencies…I believe the Plan for Iraq (Dinar Exchange) was waiting for this moment
Eccle519: Now, Parliament will be adequately pressured by the US, France and UK to get this done…they will be scurrying like Chickens at a barn dance lol
Briona: Once the GCR is in full swing, oil will still be a big factor on the value of the dollar, as it will be a huge component of what our asset backed currency is composed of..
Eccle518: It’s still fiat briona and in order to change that I think Gold will need to be involved because oil (as we are seeing) can’t do the job if all it takes is other countries to pump surplus oil etc
Briona: Eccl519, Once the GCR kicks in, we will no longer be a fiat currency, and we do not have enough gold to cover the new currency, That is why they refer to an asset backed currency, in which oil will be one component of many.
Eccle519: Oil will have it’s value for sure but the dollar won’t come from the Federal Reserve as in the past, it will be some type US Treasury Dollar (or Crypto Dollar) note and people won’t even know the difference since most will be digital numbers in our bank accounts …That will eliminate unlimited printing of Dollars
Briona: I agree, the new currency will be actually based on something of tangible value, unlike the Federal Reserve Note, and it can’t happen fast enough for me.
Eccle519: Right, we really don’t want to exchange for Fiat money imo
Eccle519: According to the US Debt clock.org, (today) silver to Dollar ratio is $2,422 and Gold ratio to Dollar is 20,075 in order to match the debt at 24 Trillion …Per ounce. A reset in Gold (and Silver) pricing could happen overnight the way things are going right now