The time will come when the US dollar will collapse and be worth no more than the scrap and/or collection value of its cotton-paper and dross coins. We are coming to a period I call “the Global Currency Reset.”
In 1944, the allied countries came together to establish a new global monetary system. Called the Bretton Woods Agreement, they decided to ditch the gold standard and use the U.S. dollar as the global currency. Richard Nixon stopped backing U.S. dollars with gold globally in 1971.
This was known as the Nixon Shock. Since then, the dollar and all other currencies in the world exist without any support from a hard asset like gold. Since the Federal Reserve was created in 1913, the dollar has lost 95% of its value – its worth eroded by inflation.
The US debt currently sits at over $22 trillion and grows daily. In 2011 Standard & Poor, a rating agency, downgraded US sovereign debt from AAA to a lowly A.The 2009-2008 financial crisis & stock market crash which started in the US through the sub-prime mortgage debacle, was another flag to the rest of the world signaling a move away from the dollar toward other currencies.
The American people actually showed resistance against central banks for a long time. Before the FED was established, 3 central banks were shut down by the Americans. In 2019, global debt hit $250 trillion. Encouraged by lower interest rates, governments went on a borrowing binge as they ramped up spending, adding $3 trillion to world debt in Q1 alone.
We are absolutely sure the reset (GCR) will happen and gold will play a very important role in the transition to a new world currency.
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