Entry Submitted by EK LTD2 at 3:51 PM ET on January 20, 2023
I have a few questions for clarification and confirmation regarding the incoming Gold Standard, please.
Is January 31, 2023 the absolute back wall date to have any fiat currency of any kind, paper and coin?
If I walked into the branch of my small town bank next Monday, will the teller confirm the new currency is in circulation and would be able to receive such upon withdrawal, correct?
How soon will be be able to use, and be accepted, the new currency in stores, etc?
Will the denominations of the new currency be higher than the current $100 bill?
Regarding the upcoming 1950’s prices, will the drop happen over time until they reach that level, or all at once when the announcement is made?
As the cost will drop, will the wages drop, too?
What is the approximate timeframe the new prices be fully implemented?
I read a long time ago, and am old enough to remember, the new gold backed currency will have ten times the current spending power. Am I understanding it right, that on average, prices, and wages?, will be a tenth of their current levels?
Thanks in advance for your help.
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