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To: sten
We could also adopt another currency that isn’t devalued almost completely

That would be gold.

10 posted on 03/24/2022 6:10:39 AM PDT by unixfox (Abolish Slavery, Repeal the 16th Amendment)
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To: unixfox

Gold wouldn’t be enough. The world has 2.5m ounces of gold which, at today’s price of $1960/oz equates to $5 trillion.

Not quite enough

If we use some other metals and possibly a basket of commodity goods the going value of which would be the basis for a general currency. The other items in the commodity basket could be other metals, oil, wheat, corn, lumber, etc etc.

While prices on individual items may fluctuate, the overall basket value should remain relatively stable (similar to a mutual fund or index)


44 posted on 03/24/2022 9:17:47 AM PDT by sten (fighting tyranny never goes out of style )
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