Comments by "Phil Dobson" (@phildobson8705) on "G20: Political and trade rifts threaten G20 - BBC News" video.
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@jamesmoylan2861 Bretton Woods was terminated not suspended. USA doesn't have 20 trillion in gold. Nixon terminated it because so many countries wanted the actual gold for "paper" dollars USA had paid them for their produce with,.
Look what happened when Gaddafi wanted his hundred billion "paper" gold, he had bought with Libyan oil, in real gold?
"We saw, we came, he died" laughed Clinton, on the Oprah Winfrey show.
If Gaddafi had been worldly-wise he would have discreetly bought real gold from Gold producing countries in Africa, sold his Wall Street "paper" gold at the resulting high price, then purchased more real gold at the resulting low price & so on until he had in excess of his 100 billion in real gold.
There isn't sufficient gold in the world you go back to Bretton Woods.
Why do you keep saying money should be kept in local Banks?
Your wages are paid into your local branch / National bank digitally, you buy your house, money changes hands / accounts digitally mortgages provided digitally, mortgages of seller paid off digitally, banks transfer vast amounts of money digitally, it's all on the computer the actual money itself has never been printed.
You buy with your credit cards it's never been real money the supermarket has their account credited you pay for it with your wages that are just digital there is no big lorry load of cash.
when you use your credit card you are effectively creating money digitally
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