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RE: the future of the us dollar?
Are you sure the new dollars are gold backed? I didn't think the FED has enough gold reserves to back the money in current rates.
Are you sure the new dollars are gold backed? I didn't think the FED has enough gold reserves to back the money in current rates.
Hi, good question and you're right, there has been no announcement of gold backed currency as yet... but the indicators are that it is coming. It is not just the changes to the new dollar bill that are giving clues but USA's change in gold buying activity; according USGS World Gold Mineral the US imported 20.7 metric tons of gold in May 2016, which was more than it has imported in several decades. As you may know, the USA claimed to have the largest gold reserves on the planet (according to the World Gold Council) but has steadfastly refused to have this verified by an outside auditor. Time will tell of course, but it would be prudent to position yourself for the probability of the new currency (backed by gold if the signs are correct) replacing the old (which many people, especially those outside of the US) hold.