How It Might Be Handled
Nothing specific recently, but something some people who can’t(or don’t want to) believe that the world they have grown up in is likely to change drastically when the currency becomes worthless. They say we are never going to go back to using gold and silver as money, because it is too complicated and impossible to implement. Total hogwash. While electronic transactions may be what most people use in the future, whether a CBDC or a similiar system handled by the commercial banks as oppossed to the FED doing it directly, there is no reason gold and silver can’t be part of the system for those who have them. Banks, the US Post Office and even large retailers like Walmart and grocery chains, would have customers exchange gold and silver which would be verified and weighed and priced at whatever the going rate is, and a debit card issued for the agreed upon amount. The customer would then proceed with their shopping just as they do now. While the government may or may not make gold and silver coins again as the official money of the US(it worked for 200 years) once a gold revaluation occurs, there is no reason the Govt. couldn’t go back on a bi-metallic monetary system. Even if they choose to not do so formally, an unofficial system of accepting gold and silver as money, will prevail, just as it has even during these 50+ years since they were “temporarily” suspended.