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The US went off the Gold Standard in 1933 !!!

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diamondjim

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24/04/24

15:44

Post #: 73500674
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Originally posted by Cosmoterios: ↑

Yes, very few people outside the US Gov realizes this.

The US actually prints more money to pay off money it owes.

They print money to buy the goods. And they print money to finance wars; including the ones in Ukraine and Israel. Imagine being able to print whatever amount of money you want, and use it, to buy whatever goods/services you want?!?

And endless credit card system. Which is why the US is increasing its deficit by $1 Trillion every 3 to 4 months.

No country on this planet could get away with such excessive spending!!!

And fortunately for US citizens, thus far, they haven't had to pay it through higher taxes; except through higher interest rates and prices.

However, the rest of the world actually absorb this profligate spending.

And its why the US is fricking out that BRICS members are intending to set up an alternative reserve currency and financial system.

If the rest of the world had an alternative to the USD as a reserve currency, the US economy will collapse.

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The US went off the Gold Standard in 1933 !!!
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