“If the petrol dollar is dead can this man please tell us what system takes its place.”
First the author of the article is correct. The petrol dollar is all but dead. The entire world is going to shift to a new gold backed system with a one to one exchange. The US dollar is going to be called the US note. One US note will equal one Ruble, one yuan, one rupee, one peso etc.
China, India, Russia and Saudi Arabia and I believe Brazil have already agreed to this as of a week or so ago. So that means about 3.5 billion people have shifted away from the central banking system. That’s half the population of the world.
The US is preparing to join the new global system shortly as soon as the illegal foreign belligerent force is removed from DC. I was watching a video of a guy who is involved in the alternative media. He is a former Deputy Sheriff not a kook in any way. He said he spoke with a friend recently who is a VP at a Wells Fargo bank and was told that they have been training for six months for the transfer to the new system. Trump recovered our gold while he was in office. We now have sufficient reserves to be in the new system.
The Federal Reserve and SWIFT are going bye bye. They may still refer to the Fed in name only but it will be completely absorbed by the US Treasury. Nobody is going to lose their money in the transfer. It will be one for one.
Your imagination knows no bounds, does it?
It will be like the Argentinian peso. If we print our way out of debt, like Argentina has in the past, the $ exchange rate will plummet against some basket average of other currencies.
When you say "gold backed" what do you mean? All the gold ever mined is worth less that half the current US GDP for one year. Leaving aside the stone age level depression this would send us into, will there exchange window banks where I can trade my "US Note" for some gold?