Watch for the federal government to start backing its securities with hard assets like land.
Run that scenario forward.
Yeah...coming for sure...and watch for taxes etc. on foreign companies here to esculate.
More likely, they would have done that already, but of course not for the natives, but for “special” bonds that they didn’t bother informing the electorate about?
The solution is even simpler than land backed currency.
Just coin gold and silver again as money with a face value of the coinage being much higher than the current market price of the metal with which it is made.
The government also collects the seignorage between the difference in the market price of the gold or silver and what the dollar amount is that the mint stamps on the coinage.
If you had one ounce of gold in Roman times, you could buy a new toga, a new pair of sandals, and a sidearm (a sword.)
Today, one ounce of gold will buy a new Brooks Brothers suit, Bally wingtips, and a sidearm (SigSauer pistol).
Gold and silver have intrinsic value; meaning that they are not dependent on a promise to make good. Gold and silver as money are an excellent store of value and as a means of exchange (so we don’t have to barter).
Paper money is NOT wealth; it is merely a CLAIM on wealth.
All of our so-called ‘assets’ today are simply a debt obligation for one individual to pay another.
‘PAPER....PAPER....There is no gold in Acaba..NO GREAT BOX.
Lawrence promised gold....Lawrence lied...’