Anon Report This Comment
Date: July 05, 2024 04:45AM

When money was backed by gold and silver. Deliberately introducing inflation, sometimes called 'The great money scam' undermined the system.

woberto Report This Comment
Date: July 05, 2024 08:09AM

And so do you know why gold is so popular again in 2024?

Anon - not logged in Report This Comment
Date: July 05, 2024 09:30AM

Governments using 'over the counter' transactions to prepare to join BRICS. The yank age is over.

woberto Report This Comment
Date: July 05, 2024 09:43AM

Not even close.
The "petrodollar" agreement/pact ended June 2024 (or did it...).
~The initial agreement, signed in 1974, required any country purchasing oil from Saudi Arabia to pay with U.S. Dollars.
Many other oil producing countries made the decision to sell in USD as a result as well.

Anon - not logged in Report This Comment
Date: July 07, 2024 03:20AM

I know all that woberto, and the effect: all those yank dollars, that they thought would replace all other currencies, will drift back to their country and cause massive inflation over time (or keep it going?). I kept my post simple.

Also, you asked about 'gold'. Are you aware 25 kilograms of gold was sold in Dubai to an Indian, and the payment was in rupees? The yank age is over. Central banks are buying the gold in 'over the counter' transactions - that means not on either of the main exchanges. It's to join BRICS.