It appears the rumors are true. Islamic State is set to become the only ‘state’ to back its currency with gold (silver and copper) as it unveils the new coins that will be used in an attempt to solidify its makeshift caliphate. ISIS says the new currency will take the group out of “the oppressors’ money system.”
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The clock is ticking on the petrodollar. Our debt is $133,430,000,000,000.00 and our gold reserves at $1651.50 are $333,936,650,975.00 (from USdebtclock.org). This means our dollars are worth 1/4 penny each. So $1,000,000 USD is actually worth $2500. Assuming that the spending stopped. I wonder what our Treasury holders are thinking?
David DeGerolamo
