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Prolotario
@Prolotario1
The Bottom Line Is Reserves
The Clarity Act still sitting in committee establishes the legal framework for the US Treasury to back digital and revalued currencies against hard assets. Gold. Not promises. Not petrodollar leverage. Physical bullion on US soil. Every sovereign currency that reenters the system under a revaluation protocol needs collateral backing. Iraq’s dinar can’t RV into a vacuum. It RVs into a system. That system needs reserves.
There Is No Other Way But Up
Venezuela’s bolívar went through three redenominations between 2008 and 2021. The Petro CBDC was scrapped in early 2024. What’s left is a currency so destroyed by hyperinflation that the only viable path forward is a complete reset delete the zeros, peg to a basket, and back it with the gold Venezuela still holds domestically (roughly 161 tonnes in Caracas vaults, separate from what was in London).
What Iraq Has For Their Transition
Iraq holds approximately 132.7 tonnes of gold reserves as of the latest World Gold Council reporting. But the real number including what’s in the Central Bank of Iraq’s vaults in Baghdad, what’s been quietly accumulated through Chinese gold swaps over the past 18 months, and what’s held in proxy accounts is substantially higher. The CBI has been methodically acquiring. Quietly. Consistently. During periods when gold pulled back, the CBI bought. This isn’t speculation; it’s import data through Swiss refineries that traces back to Baghdad.
The Bottom Line
The Venezuelan gold seizure wasn’t about Venezuela. It was about demonstrating the mechanism. You take the gold, you consolidate it, you put it in the vault that backs the new system, and you let every other central bank watch it happen. Then you let the legislation catch up. Then you let the troops leave. Then you let the numbers change.
Source(s):
• https://x.com/Prolotario1/status/2094903806207119524
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