New Dollar Backed by Gold Coming This October 2020?
Gesara.news » News » New Dollar Backed by Gold Coming This October 2020?News Date: July 7, 2020
The rumor, and big fear, is that the IMF may opt to remove the US from the global SDR basket, effectively reducing the US's veto rights from the world stage. SDRs would then be a step closer to replacing the greenback as the world's reserve currency.
With the IMF attempting to pull off a fiscal reckoning minus the US dollar, President Trump may pull off a global reckoning of his own, by issuing US Treasury Notes backed by gold.
Our monies - represent fiat currencies, monopolized by the state.
Fiat money is economically and socially destructive - with far-reaching and seriously harmful economic and societal consequences, effects that extend beyond what most people would imagine.
A free market in money means that people have the freedom to choose the kind of money they wish to use and that people have the freedom to provide their fellow men with alternative goods that may serve them well as money.
The team built the system using Hyperledger Fabric, a popular DLT platform, because it generally met the team's design requirements of a closed network, mature technology, and enterprise readiness. The experiment highlighted the potential of DLT for certain payment uses, the quick speed with which a system could be implemented, the potential simplicity of smart contracts, and the range of functionality offered by such platforms. It further highlighted the need for more experimentation to better understand the possibilities for wide-scale adoption and use of any DLT platform for payments.