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- #41
See post 33.
You're welcome.
No need, you are just as uneducated there as you are in this post....
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See post 33.
You're welcome.
So you don't see the dollar being replaced with a digital currency?This is an intra-bank deposit requirement and short term loan settlement issue.
Any excuse for conspiracy hysterics, I suppose.
So you don't see the dollar being replaced with a digital currency?
Well, here is the option they gave our grandparents. If you are caught with gold you failed to produce, you will serve up to ten years in prison. If you have children, you will lose them. And your job along with your freedom, your house, your cars, and your tokens...
I prefer the smaller options with gold. And small bags of junk silver. But the only way to keep your wealth from being stolen is to shoot the armed government IRS agent at your door. If you bought your gold from a reputable firm, then the government already knows exactly what you have.
Utah tried to use gold as legal tender again and the feds shot that down immediately.
I've read a little on this , China pushin for SDR's etc etc....It would be established by the World Bank concerning countries and their holdings. You'll be able to exchange it for tokens at the going rate. You won't be able to use it as currency however, just like now.
sing w/ me OPJQI'm glad I'm old and have nothing to lose
I've read a little on this , China pushin for SDR's etc etc....
To my understanding (admittedly limited) it's all about the world consortium of bankers agreeing on a valuation benchmark
So, what replaces petrodollar here?
~S~
This is what it is:
The New York Innovation Center is participating in a proof-of-concept project to explore the feasibility of a theoretical payments system which would facilitate wholesale digital asset transactions. This is a test run.
If you bank at a commercial bank. Check the chart to see where your bank is located in the grand scheme of things, and ask yourself, whose money is being digitally transferred and to where:
View attachment 726954
That is the network they are testing. Do your tokens end up anywhere near you?
The DRS is run by the International Monetary Fund. We put money in, (just like we do the UN) and they decide who to give it to. There will be no petrodollar. And very little petro. One of the reasons for the experiment is to make it easier to transfer funds for oil to various countries.
No, you are confusing a computer system with digital currency. Oil is still backed by the dollar, not Bitcoin...All the transfers are already digital. Every night, hundreds of millions if not billions of dollars are shifted digitally between commercial banks or between commercial banks and the FED to settle short term (almost always overnight) loans or meet minimum deposit requirements.
The only difference now is that rather than the Fed having to hold vaults with $10k bills (used exclusively for these type of settlements and not publicly available), the US dollars being transferred would be Fed backed tokens.
All still digital. All still transferred via the exact same system to do the exact same thing. But without these $10k bills in a vault somewhere.
This is a non-story.
This has nothing to do with 'petro-dollars'. You'll still have all the cash you have the bank account to support. The only bills that would be effected are $10,000 bills.....that you're not allowed to have anyway.
No, you are confusing a computer system with digital currency. Oil is still backed by the dollar, not Bitcoin...
which has been the problem for over a centuryWhich is not Federal, and not a Reserve, but a Corporation run by an elite group of people and businesses
The story is they are preparing to get rid of cash, and move us onto a digital wallet, with tokens, not dollars, not representative of dollars, nothing to do with dollars, and your wallet will be tied directly to the Federal Reserve. Which is not Federal, and not a Reserve, but a Corporation run by an elite group of people and businesses. With the power to deduct. If they do this you'll never see your money, they'll just tell you what's left. And they are testing it out at a bank near you.
Bitcoin is backed by an algorithm.
which has been the problem for over a century
but there's a bigger consideration, the global fiat
every fiat in human history eventually fails, and while the reasons could well be a grand debate, each and every one of them started out with a valuation based on something in the physical universe
How that now happens in the digital world is beyond me.....
~S~
Nothing but thin air backs up Crypto!!
FTX bankruptcy has just proven this.
Is Bitcoin a dollar or is it a bitcoin?No, they're not. They're getting rid of holding physical $10,000 bills in a vault. The system of transfering the money for these nightly intra-bank loans is already entirely digital. It has been for a very long time.
The dollar is what is stored in the tokens.....rather than the same dollars being stored in paper $10,000 bills. Its the same dollars serving the same purpose (settling intra-bank short term loans or deposit requirements) with a slightly different container.
Its all dollars. And it has zero impact on the cash in your wallet, the dollar as our currency, the petro-dollar, or any other claims that have been made in this thread.
Its a minor adjustment for the storage of dollars used for intra-bank settlements.Anything you want to project beyond that is your speculation, backed by nothing
The dollar isn't worth the ink used to print it. Dollars used to represent gold. Now they are backed by nothing more than promises from the Federal Reserve, not the United States.These are dollars being stored in the tokens. Dollars are backed, as they have been for generations, by the full faith and credit of the United States.