Entry Submitted by AndrewC at 8:50 AM ET on February 21, 2023
So I hope by now everyone finally gets it.
Each new currency unit (dollar, pound, franc, etc.) will be worth 1 gram of gold. Which means that the world’s currencies will be gold backed, NOT ASSET BACKED. A country’s wealth is asset backed but the circulating currency is GOLD BACKED and only GOLD BACKED.
In essence, the world’s currencies will be GOLD: digitalized, tokenized GOLD, transferred and tracked around the globe by the QFS. It’s that simple.
At the official roll-out of the GCR the price of gold used to back every currency will be announced.
In my opinion, there is no need for XRP, XLM, etc (they may still serve some purpose). Just a lot of hype to spread confusion and keep people from learning that there is one world currency about to be revealed. The local currencies will be a sub layer beneath this world currency.
As usual, brilliantly simple.
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