” The Office of Poofness “
POOF SAID
Greetings and Salutations,
We assure you every week: how do you pull off a pompous a-s trick that no one believes in any longer? Please hold on you all will know the truth.
Bottom line; the project had a start and It will get a finish and those holding on will be glad they did.
All will be favorably impressed with the end result. Just hang in and let go and enjoy the ride.
It is still in the works and it had a set definitive date and a time line that got warped; that is all !!!!
Just sit with it and know there are many still at work to make this happen
Love and Kisses,
Poof
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DID YOU KNOW?
Gold Back USD Reality !!
So here’s another reality check. It is pretty common knowledge that the GCR is predicated on world currencies being gold backed. In particular the USD, because of its reserve currency status. ( In 2023 the BIS estimated that the US dollar is involved in almost 90% of foreign exchange transactions. Half of global trade and three-fourths of Asian-Pacific Trade are in USD).
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First you would have to look at the reality of what happens to the rest of the world’s currencies when the USD is strong. This means when the dollar appreciates, other currencies depreciate, making the world poorer and less able to engage in trade. For example, a strong U.S. dollar benefits Americans traveling overseas and businesses doing business overseas, because $1 buys more: however, this is a disadvantage for foreign tourists or businesses doing business in the U.S. because their currency would buy less.
To determine how much gold would be needed to back all of these dollars, we need to divide the total value of the dollars by the current price of gold. As of April 2023, the price of gold was approximately $2053 per ounce.
To determine the amount of gold needed to back 2.1 trillion dollars ( in circulation at the time), we need to use that price of gold (at the time) to calculate the value of the gold reserves required.
First, we need to convert 2.1 trillion dollars into ounces of gold. To do this, we divide 2.1 trillion by that price of gold per ounce:
2.1 trillion dollars / 2053 dollars per ounce = 1,024,542,084.19 ounces of gold
So, we would need over 1 billion ounces of gold to back 2.1 trillion dollars in circulation. ( Note: as of Jan 2024 Current circulation is at $2.341T, requiring even more gold)
According to the US Treasury, as of April 2023, the US government holds approximately 261 million ounces of gold (since 1971), which is about 1/4th of what would be needed.
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Keep in mind there is approx $22 Trillion USD in circulation globally, in various forms other than cash and coin And all of it would have to be repatriated into gold backed as well at some time.
So the narrative that the world is attempting to de-dollarize is actually a good thing but the reality of it depressing the U.S. dollar in half is total BS. The dollar is too big to fail. The GCR is meant to right the ship, but the reality of how it will process or what the actual architecture of that process looks like, is not known by anyone who is in the public forums. It would take a book to explain how everything came to be and what would have to be done to change it. And it would be a very big book.
DJ
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Love and Kisses,
Team “Poofness”
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