Entry Submitted by MenoReno at 6:06 AM EST on January 24, 2020
It has been reported that the head of the IMF, Christine Lagarde, might announce that her organization will return us to a gold/asset- backed standard sometime this week while at the Davos conference. Then there is a reference to an article on The Epoch Times.
But reading the article makes you wonder how the above conclusion was drawn from it. This is because the article is about 'stablecoins', which is an evolution from cryptocurrencies.
Cryptos are great for speculators, but their values vary too wildly to peg to any regular currencies. Stablecoins would be pegged to the IMF'S SDR. Originally, the SDR was pegged to the value of gold, but that's when .88+ gram of gold was equal to one dollar. It's now equivalent to over $40.
So, they changed the SDR to a basket of currencies we are familiar with. All of which are fiat currencies.
Again, the IMF doesn't have the power to force 209 countries to switch to gold/asset-backed currencies. Nor does the President. Congress has to pass a law, and they are busy right now. That, and the fact that the pending bill hasn't even been brought up in committee, should tell you how likely the return to the gold standard really is.
MenoReno
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______________________________________________________
All articles, videos, and images posted on Dinar Chronicles were submitted by readers and/or handpicked by the site itself for informational and/or entertainment purposes.
Dinar Chronicles is not a registered investment adviser, broker dealer, banker or currency dealer and as such, no information on the website should be construed as investment advice. We do not support, represent or guarantee the completeness, truthfulness, accuracy, or reliability of any content or communications posted on this site. Information posted on this site may or may not be fictitious. We do not intend to and are not providing financial, legal, tax, political or any other advice to readers of this website.
Copyright © 2019 Dinar Chronicles
It has been reported that the head of the IMF, Christine Lagarde, might announce that her organization will return us to a gold/asset- backed standard sometime this week while at the Davos conference. Then there is a reference to an article on The Epoch Times.
But reading the article makes you wonder how the above conclusion was drawn from it. This is because the article is about 'stablecoins', which is an evolution from cryptocurrencies.
Cryptos are great for speculators, but their values vary too wildly to peg to any regular currencies. Stablecoins would be pegged to the IMF'S SDR. Originally, the SDR was pegged to the value of gold, but that's when .88+ gram of gold was equal to one dollar. It's now equivalent to over $40.
So, they changed the SDR to a basket of currencies we are familiar with. All of which are fiat currencies.
Again, the IMF doesn't have the power to force 209 countries to switch to gold/asset-backed currencies. Nor does the President. Congress has to pass a law, and they are busy right now. That, and the fact that the pending bill hasn't even been brought up in committee, should tell you how likely the return to the gold standard really is.
MenoReno
______________________________________________________
If you wish to contact the author of any reader submitted guest post, you can give us an email at UniversalOm432Hz@gmail.com and we'll forward your request to the author.
______________________________________________________
All articles, videos, and images posted on Dinar Chronicles were submitted by readers and/or handpicked by the site itself for informational and/or entertainment purposes.
Dinar Chronicles is not a registered investment adviser, broker dealer, banker or currency dealer and as such, no information on the website should be construed as investment advice. We do not support, represent or guarantee the completeness, truthfulness, accuracy, or reliability of any content or communications posted on this site. Information posted on this site may or may not be fictitious. We do not intend to and are not providing financial, legal, tax, political or any other advice to readers of this website.
Copyright © 2019 Dinar Chronicles
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