[Ask the Gulch] Here we go - https://www.zerohedge.com/markets/gold-standard-back-brics-intro-gold-backed-reserve-currency - Galt's Gulch

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[Ask the Gulch] Here we go - https://www.zerohedge.com/markets/gold-standard-back-brics-intro-gold-backed-reserve-currency

Posted by Leonard 1 year, 5 months ago to Ask the Gulch

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Posted by freedomforall 1 year, 5 months ago

If anything finally releases the USD price of gold from the banksters control, this could be it.
Unfortunately, there isn't enough gold for this to be practical.
There must be other additional stores of value that can't be easily counterfeited
that can be used to back fiat, e.g., silver, petroleum, coal.

The link Leonard intended:
https://www.zerohedge.com/markets/gol...

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  Posted by Dobrien 1 year, 5 months ago
  
  There is plenty of Gold and Silver for currency, the valuation just needs to be adjusted to reflect the real inflation rate.
  
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    Posted by freedomforall 1 year, 5 months ago
    
    Exactly, not just gold.
    My question is whether it makes sense to give more power to only people who have accumulated gold and silver.
    That's why I think it may make sense to have more than just the two precious metals allowed to back currency.
    
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