What happens when the fiat currency

@Roundandroundwego There is a push on right now to remove the $US as the reserve currency and replace it with the Yuan. If America defaults on its debt China will have that new set up in place in HOURS...😷

@whowasthatmaskedman So, They're not pushing the central bank digital currency?

@Hayman Thats a secondary issue. Digital. paper, Gold or seashells. It will be in Yuan , not $US. and that means that the rent American gets to charge for the use of its currency in trade will disappear. That means demand to the $US will fall away and th value of the $US will drop. And THAT means the cost of imports into the US will rise. And thats a lot of stuff.😷

@whowasthatmaskedman Back to the first issue, What happens when countries decide to move back to gold?

@Hayman Intelligent question.. Gold has always been a store of value. A safe haven. But there is simply not enough gold to sustain the world economy in anything like its current leve. That leaves you to nominate something to substitute for the promise of gold, which the $US used to. People believed the promise , so the system worked
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