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This is technically false, the dollar was switched to being backed by oil after it was removed from the Gold standard.
This was known as the "Petrodollar." This is why the world has been using the dollar since the 70's, all the oil trade from the middle east was only done in dollars (the oil cabal made it so with Saudi Arabia), and China was using dollars after Nixon / Kissinger set up China as our producer of products.
THAT is why the dollar is dying now, because the Chinese, Russians, etc are bypassing oil trade in dollars. They are trying to introduce a new global reserve currency digital system under the IMF which the Chinese now have a stronger hold over. But Trump fucked up their plans to do it under Hillary so they had to release "Covid" to delay the economy and lock it all down while they work to speed up the transition to the new currency system.
Just a fun fact.
It's also losing value because they are printing 'em like paper is running out of fashion. But because the USD is what they sell oil in, the inflation is borne not just by us but also the rest of the world.
This is all good until the rest of the world starts to realize this, which is what they've done.
Should make for a fun day when the currency collapses, generally the USD is way overdue anyways. Fun fact, the first time the USD collapsed was a mere 20 years after its inception (the great depression)
I don't know if it will be 'fun' but it will definitely be hell of a day to be alive.
The dollar is backed by NOTHING. It is created by jew banks and the jew central bank. Half you faggots don't even know this but swear to god cryptocurrency is the devil.
You cannot win when your money is created by your enemies.
Again, to say it's backed by nothing is incorrect. It WAS backed by the confidence of all nations that it would be honored in trade. It WAS backed by the fact that if you wanted oil from SA, you would need to use Dollars. That's not "nothing." However with Oil Trade enforcement severed from the Dollar, it is now backed by just about nothing until they roll out their new Bretton Woods system.
Also, there's a big difference between decentralized crytocurrency and a privately-controlled crytocurrency. By the way, Bitcoin's price is controlled. You think half a Trillion is libertarians using it? LOL
USD is backed by NOTHING. Bitcoin's price is manipulated the best they can but NEVER controlled. You can't control something that people literally OWN and can take out of exchanges, etc at a moments notice. You can say gold is controlled, really manipulated terribly, but not bitcoin.
What is the "new currency"?
We don't fully know yet. We do know that the IMF has the SDR (Special Drawing Rights - a basket of currencies) to deal with exchange between nations. We do know that the IMF has been experimenting with crypto currencies.
There is a lot of talk that the currency will be backed by gold. However, nobody will actually own gold. Nobody will own anything other than these digital credits.
Think of this new currency as a Gift Card rather than a currency. It's all about control.
Nobody will own anything
And you'll be happy, goyim!
I want off this ride now, pls
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