A crypto currency backed by gold?
If this is US crypto currency backed by gold, is that currency then on the gold standard? But we abandoned the gold standard, didn’t we? This could be a step back to a good standard, of having American money backed by precious metals????
Calling it ‘cyber’ currency versus crypto but it will be similarly driven by secure blockchain technology maintained by the US Treasury and valued on the gold standard.
Gold has no real survival value, we can’t eat it and it won’t heat our homes. But it’s a great reference point.
The US Treasury will also have the parallel US Notes that are gold and silver backed so there will never be a danger of some progressive disease ideology talking the WH and punishing people electronically by some asinine social credit system. Paper cash will still work.
Cybergold for convenience.
US Note paper bills pegged to gold for independence.